I’m a Debt Expert: Here’s How Social Media Warps Our Perceptions of Debt
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Fancy meals, international vacations, luxurious nights out on the town — people share everything on social media. Or so it would seem.
One of the biggest problems with social media is that people only share what they want you to see. They’re not often sharing the difficult things we all go through, or even the mundane day-to-day life moments. And that has the power to skew the way we see all sorts of things — including debt.
This selective sharing can warp our perception of finances, according to Marc Russell, a Financial Literacy Educator, founder of BetterWallet and member of the Financial Board of National Debt Relief, a company that provides debt settlement and relief services.
“Social media is often viewed as a ‘highlight reel’ that only includes success and not the natural struggles of the creators,” Russell said in an email. “You see this often with some financial content. Creators are quick to speak about the big financial goals they reached, like paying off debt, but not often do they discuss the sacrifices and the support they received throughout the journey.”
A More Honest Look
Russell has plenty of expertise in this area in his role as an active financial coach across various social media platforms. At National Debt Relief, he’s part of a team whose mission is to redefine the debt-settlement journey by empowering, supporting and guiding clients so they can improve their financial wellness..
Too often, Russell says, not enough information is shared on social media that provides a rounded view of the risks involved with debt.
“Creators won’t discuss cutting back on the things they love and mistakes they made along the way to becoming debt-free,” Russell said. “To be fair, I believe sharing the success motivates people to get started, but we all know that most financial goals are sometimes a long and arduous task that takes a high level of daily commitment. The entire process can be daunting, and if the person you follow is only sharing the wins and not the complete story, it’s easy to lose motivation after the first rush of excitement.”
Another problem with social media is that algorithms favor short, snappy posts or videos — especially with TikTok. As Russel explained, the algorithm currently rewards creators if they post short, yet engaging videos.
“The challenge is that 30-second videos often include a hook, a little bit of context and a call to action,” he said. “The lack of context can be damaging to viewers, because it assumes that everything is a quick fix and there are limited steps to achieving their goal. This is particularly bad as it relates to paying off debt.”
Why it Matters
One result of this skewed perception is that people who rely on social media to learn about debt end up getting bad advice. They would be better served by engaging with companies like National Debt Relief, which offers award-winning expertise to clients who want to get their debt under control.
“If you are looking for debt management expertise outside of social media, I think it would be worthwhile to consult experts who understand where you are coming from,” Russell said. “National Debt Relief is an amazing resource that can help you build a well-rounded understanding of your debt and build a plan to help you reach debt freedom.”
Since its founding in 2009, National Debt Relief has helped more than 550,000 people resolve more than $11.5 billion in debt. It’s accredited with the Better Business Bureau and has an A+ rating, and it was named the top-rated debt settlement firm in 2023 and 2024 by Forbes Advisor.
National Debt Relief can help cover most unsecured debt and will negotiate with major credit card issuers and banks to reduce debt loads. Here are some of the debt categories its services cover:
- Credit Cards
- Personal Loans
- Lines of Credit
- Medical Bills
- Collections
- Business Debts
- Certain Student Debts
How it Works
Here’s how it works: First, tell a Certified Debt Specialist at National Debt Relief a bit about your situation in a free, no-obligation consultation. Then, if you’re eligible and interested in their program, they’ll put together a customized plan that’s right for you and your budget.
With debt settlement, National Debt Relief’s experts will negotiate directly with your lenders on your behalf to agree on a reduced balance, so you could pay less than what you owe and get out of debt much faster.
With debt consolidation, all your debt will be combined into one new loan, ideally with a lower interest rate. This will help you pay off your balance faster and save you money on interest payments in the long run.
National Debt Relief’s experts will help you weigh the pros and cons of all your options.
Bottom Line
If you’re ready to take the first step toward becoming debt free, it takes just a few minutes to get started here and set up a free, no-obligation consultation to see what your options are. You could pay off your debt for much less than you actually owe.
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