How Friends Can Impact Your View of Your Finances

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 1 March 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Comparing ourselves to our friends, especially through their social media posts, often produces an incomplete picture of our finances. Wall Street Journal personal finance reporter Julia Carpenter joins host J.R. Whalen to discuss how that impacts our ability to set financial goals. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Are you ready for a Monzo Business Bank Account?
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0:09.0	freelancers searching for financial freedom,
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0:19.0	Sell through your business banking.
0:20.9	Apply for an account in minutes. Search Monzo Business.
0:24.0	Tees and sees apply.
0:25.0	Soul traders or limited company directors in the UK can apply.
0:28.0	Here's your money briefing for Friday March 1st. I'm J.R. Whelan for the Wall Street Journal.
0:40.0	There's no shortage of numbers and headlines telling us about the health of the economy.
0:44.3	Turns out, many people form their opinion about the economy, not by what they read, but by what's
0:49.7	going on with their friends.
0:51.4	If I'm someone who finds out that I'm making more income than my friends, I'm going to
0:56.3	feel great about myself.
0:57.8	But if I find out that they actually have lower debt loads than I do, I'm going to feel worse
1:01.7	about myself.
1:02.8	And this sort of speaks to why looking at the people immediately around you
1:07.2	and judging yourself based on that gives you this skewed perception.
1:10.8	We'll talk to Wall Street Journal Personal Finance reporter Julia Carpenter after the break. For brands in the digital age,
1:25.0	content is the customer experience.
	...

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