Insta rich Vs. financial stability: How social media misrepresent wealth

It’s 2022 and all of us have pretty much come to terms with the fact that social media is harmful to us in many ways. From unrealistic standards, a plethora of self-image issues, the constant FOMO, and a steady supply of fake news, social media is known to be destructive to your mental stability. 


But, perhaps one of the most lucrative ways in which social media impacts us, is the misrepresentation of wealth. With influencers constantly showing us how picture-perfect their life is, we as their audience have started seeing wealth in a distorted way. 


Let’s see some of the common ways wealth is portrayed on Instagram and compare it with what real financial stability looks like;


Things that are Insta rich


1. Fancy restaurants in swanky outfits


A typical wealthy person on Instagram is regularly seen at fancy restaurants, cafes & bars with stylish and fashion-forward outfits. These are not your typical cafes & bars, these are places that serve drinks with clouds of foam, seafood that is captured and prepared in front of you, food presented in the most bizarre fashion, etc. Then they take aesthetic photos and videos of this and post them to their curated Instagram feed and stories. 


And how can we forget about the outfit, always on point, often matching the theme of the location? 

fancy weekends


2. Frequent vacations at Insta-worthy resorts 


They frequently visit fancy resorts with pools, and spas to unwind from their hectic schedules. These luxury resorts come with all amenities, breathtaking views and can cost tens of thousands per night. 


3. All about aesthetics


Everything has to be aesthetically pleasing. Their homes are perfectly decorated in the themes of white, gray, and beige. There is nothing that disturbs the perfectly balanced color scheme of the place. You will never see a speck of dirt or clutter in their place. Even the kitchen seems brand new all the time. 


4. Perpetually put together & positive


They are always put together. Hair perfectly in place, makeup is always done and even their pajamas are cute. They manage to keep themselves positive and happy at all times. You will never see them disheveled or having a bad day.


5. Financially accommodating friends


All their friends, family, and partner are always ready to go on expensive vacations and parties with them. Their friends and family are always ready to indulge them with expensive gifts and surprise parties on every occasion. There is never any financial barrier in their relationships.


6. Full proof financial hacks & shortcuts 


Insta wealthy people are always full of advice, hacks & shortcuts that help them earn quick money. They seem to have all their finances in order and never need to figure out their anything.



What real financial stability looks like:


1. Doing activities, for pleasure not for aesthetics


Real financial stability gives you the freedom to do fun activities that you genuinely enjoy. It allows you to travel without having to worry about taking aesthetic pictures or taking up hobbies & sports that might not be glamorous for social media but make you happy & content. 


2. A solid retirement plan & health insurance in place


One of the fundamental signs of financial stability is to have your retirement plan sorted. This may include knowing when and how you want to retire. Is your current retirement plan going to be enough to accommodate the rising healthcare costs, inflation, and any emergency expenses that might come up? 


Proper health insurance that considers all your medical needs is the best way to make sure that you don’t dip into your savings or break your investments during medical emergencies. 

This is the very basic step to ensuring a financially secure future.



3. Affordable and functional home


Owning a home is generally seen as a big sign of wealth & financial stability. But buying a home at the wrong time just to achieve this “goal” can put you in long-term debt and create financial instability. 


Having a home that is suitable for your needs and is within your budget is much more financially sound than owning a home that is impossible to maintain & difficult to afford for the sake of aesthetics. This might mean sharing a rented apartment or staying with your parents until you are financially secure enough to move out. 


4. Working towards your financial goals 


One of the biggest signs of true wealth & financial stability is actively working towards your financial goals in a patient and consistent manner. Understanding that true wealth building needs proper planning, patience, and consistency. No amount of financial hacks and shortcuts can give you long-term results. 


One of the easiest ways for you to achieve your financial goals is through Kuvera’s goal-based investment planning. Learn how to plan your investment according to your goal to get the best results here.


5. Accepting the financial boundaries of others


Unlike social media, in real life people around us will have different financial capabilities, goals, and priorities. Not everyone can spend money on things that they want to do. What is affordable and important to you might not be affordable to others. Planning activities considering that people have different budgets and priorities show true signs of financial maturity and wealth. 


In a world full of curated content, aesthetic feeds, and brand promotion, it is very easy to forget that wealth display is not the same as wealth creation. And the true purpose of wealth building is to create a financially secure and safe future that allows you to live your life without financial constraints. Spending money to show the world that you are happy, fulfilled, and wealthy can only deepen our insecurities. 


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