Social Media Spending
Kids and teens now spend more than 90 minutes per day on TikTok, and the platform has proven to influence users to spend: the New Consumer found that 27% of users were prompted to purchase a new product because they saw it on TikTok. Unsurprisingly, parents are footing the bill: according to Piper Sandler’s biannual survey, 62% of teens admitted that their parents contribute to their social media spending.
So, how can parents steer kids away from buying products they don’t need on TikTok – and teach them responsible spending and saving habits instead? We spoke with Jennifer Seitz, CFEI and Director of Education at Greenlight (and a mom of three teens), who can provide actionable advice for parents and kids.
Curbing Teens’ Social Media Spending
1. TikTok is ripe with products that—more often than not—people just don’t need. How do you tell your kids not to get caught up in all the glitzy promotion of things on TikTok?
The social media algorithm is filling our social feeds with ads for what they know we like — and likely want to buy. This brings an opportunity to have an open and honest conversation with your kids about responsible spending before a pattern of impulse buys becomes…