Do your friends’ Facebook and Twitter pages make you feel inferior?
One in five Facebook and Twitter users admit they now constantly compare themselves to others based purely on the status updates, pictures and messages from their ‘friends’ on social media sites.
That’s according to a new study released today from personal loans provider savviloans.co.uk, which shows that ‘Keeping up with the Joneses’ is now a high-tech affair, with the constant stream of pictures and status updates of holidays, purchases, weddings, babies, new homes and other boasts leading to the rest of us questioning our own lifestyles.
While these comparisons are hugely affecting the younger generation, with more than half of 16-24 year olds admitting they spend much of their time trying to measure up to the lives lived by others on Facebook, the phenomenon is not purely reserved for the young.
A third of social media users between the ages of 25 and 44 admit they do it too, while more than one in ten 45-54 year olds do the same.
The www.savviloans.co.uk survey carried out by Opinion Matters, also revealed that whilst one in five of us are increasingly spending more time in our own homes, the current economic climate has prevented a quarter of people from making those all-important home improvements that their house needs.
Dr Sandra Scott, psychological Consultant: “The rise of social networking means there are so many more ‘Joneses’ to keep up with in today’s society. We are all sharing more information about our lives with more people and can end up comparing ourselves to lifestyles projected by others through social media.
"We all have a tendency, to varying degrees, to be concerned about how other people view us and this can lead us to compare our lifestyles unfavourably to others who appear more affluent. The key is to keep perspective and to focus on the positives of who we are, and what we do have.”
Almost 30% of people say they feel envious of friends, family members, colleagues and neighbours who have more than them, over 40% say they don’t like to think they’re missing out, while one in seven say they feel stressed about trying to keep up with others.
The need to feel as though we’re having as much fun, and living a life which is just as exciting as our friends and families could be having a financial impact for some of us. Only 30% say that the current economic environment has made them feel less pressure to measure up to the lives of others.
The most desired items for Britain’s to invest in this year to ‘keep up with the Joneses’ include:
2: New Kitchen or Bedroom
3: New Car
4: Conservatory / loft conversion
5: New Bathroom
SavviIoans.co.uk is a new direct to consumer loan offer providing anything between £2.5K and £15K to credit worthy consumers, to target the UK’s annual £23 billion unsecured personal loan market.
The research for Savvi Loans was carried out by Opinion Matters between :03 / 07 / 2012 and 09 / 07 / 2012. Sample: 1392 UK Adults
Notes to editor
For further information about savvi loans visit www.savviloans.co.uk
Hitachi Capital Consumer Finance, the UK's number one finance provider of point of sale (POS) credit solutions, announced the launch of a new direct consumer loans proposition, Savvi Loans, to target the UK’s annual £23 billion unsecured personal loan market (Mintel 2011).
This new venture allows Hitachi Capital to extend its one billion high street lending capacity, derived from facilitating hundreds of millions of purchases via retail point of sale finance products for key retailers such as B&Q, CSL, Beaverbrooks and DFS. This is a natural progression for the company to take; providing a direct to consumer finance product, Savvi Loans, through the online portal savviloans.co.uk.
This extension of Hitachi Capital’s direct to consumer product range builds on the company’s 30 years of experience and expertise in the consumer finance market, and will see Savvi Loans offering competitive and straightforward rates to both existing and new customers on loans of between £2.5 and £15K.
Savvi Loan customers will also gain free access to exclusive offers, coupons and savings from household retail brands including Goldsmiths, Furniture Village and British Gas through the existing besavvi.co.uk customer portal.
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