Is social media influencing your spending habits?

A new survey says a third of Bay Area residents admit their spending habits have been influenced by images and experiences shared by friends on social media. 7 On Your Side's Michael Finney spoke to Richard Zak from Charles Schwab for some insight.

SAN FRANCISCO (KGO) -- Charles Schwab recently released its 2019 Modern Wealth Survey where more than 750 Bay Area residents were interviewed about their spending habits.

The survey says a third of Bay Area residents admit their spending habits have been influenced by images and experiences shared by friends on social media.

So, if social media does impact your spending, how can you make sure you avoid getting into financial trouble?

Richard Zak, Regional Market Executive for Charles Schwab spoke with 7 On Your Side's Michael Finney about the survey findings.

You can watch the full interview in the video above.

If you would like more information on the survey, here is a link to Charles Schwab's website.

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