How do viral trends affect your spending?

Scroll through social media for a few minutes and it seems everyone’s got the latest viral food, clothes, gadgets and beauty products.

And if you don’t own them, who even are you?

That’s how social media algorithms can make you feel.

They want you to believe you’re missing out if you don’t have them.

That you’ll be healthier, happier, more successful, more stylish and more popular if you do.

With all that in mind, it’s no surprise that so many of us will spend money to keep up with social media trends.

In fact, new figures from AJ Bell show that four in ten Brits spend at least some of their disposable income on viral products.

But the pressure to keep up means many run the risk of spending more than they can afford, often on items they don’t really want that’ll get thrown out once the next big trend comes along.

Consumers snapping up viral food and drink

People who are influenced by viral trends are mainly spending on food and drink items.

For example, nearly one in five (18%) people are snapping up high-protein foods, and the same number are eagerly buying crispy chicken products, along with:

• non-processed foods - 16%
• low or no-alcohol drinks - 16%
• meat alternatives - 15%
• high-fibre foods 13%
• Dubai chocolate - 11%
• bubble tea - 9%
• matcha - 8%

And it’s not just food that people are spending money on.

Korean beauty products are also proving popular, with 7% buying these after seeing them on social media, along with:

• Stanley cups - 6%
• weight loss drugs - 5%
• athleisure wear - 5%
• Labubu dolls - 3%
• Reformer Pilates classes - 3%

“A wide range of consumer trends have gained traction in the past year, largely due to the power of social media in shaping consumer habits,” said Danni Hewson of AJ Bell.

“However, rather than being a one-off spend, our research indicates that consumers display an ongoing interest in buying these items.”

How to resist social media spending pressure

If you’re spending too much because of what you see on social media, there are steps you can take to kick the habit.

Remember social media isn’t real

Social media doesn’t always accurately reflect people’s real lives.

It’s a curated selection of highlights where people want to show their best side and make out that they’re living a life you can only dream of.

So keep that in mind next time you’re scrolling on Instagram or TikTok.

It’s not real, so you don’t have to copy everything you see.

Unfollow or mute accounts

You might be prompted to splash the cash by certain accounts or influencers.

So it could be worth muting them for a while or unfollowing them completely.

Follow different accounts

The posts you see on social media are based on the kind of content you’ve engaged with before.

So instead of following content creators who are into every trend that comes along, engage with people who promote a more realistic and affordable lifestyle.

You’ll find your feed starts recommending very different content that encourages much more positive financial habits.

Create your own style

Many social media users worry that not having a trending item is a badge of shame.

But that’s not true and it’s a toxic way to think.

Embracing your own likes, dislikes, tastes and style is far more satisfying and can make you stand out for all the right reasons.

Stop and think

If you find yourself drawn to something just because it’s gone viral, think about if you can afford it and if it’ll really bring you happiness.

Take your time

If, after thinking, you decide you really do want a particular item, don’t rush into spending more than you can afford.

Do it your way and in your own time, perhaps by getting cheaper dupes of branded items or waiting until you can afford the real deal.

Set a budget for treats

Budgeting isn’t just about covering essential expenses like bills.

It’s also about knowing what you can spend on non-essentials without putting yourself at financial risk.

This certainty means you can treat yourself or buy the odd luxury and actually enjoy what you’ve paid for, without worrying afterwards about how you’ll cover other costs.

Check out our guide to how to create a budget and try our handy budget planner to get started.