Social media financial pitfalls

2010-01-29 14:53:43 (GMT) (WiredPRNews.com - News, Social Media News)

Analysts suggest social media interaction can negatively impact users fiancially if managed improperly.

Some suggest social media can have a negative impact on one’s finances if managed poorly.

U.S. (WiredPRNews.com) – Social media is known to be a powerful tool for convenient social interaction with mass groups of people; however some say that poor management of online socializing habits can have a negative impact on users financially. As reported by Bankrate.com, poor management of social media can affect an individual’s career, subject them to the ruses of scam artists, and give debt collectors a platform to collect information or humiliate users online.

Justin Smith, founder and editor in chief of Inside Facebook, is quoted in the report as stating of the issue, “We’ve seen a lot of cases of people publishing status updates that have gotten them in trouble… People have said things that have caused problems with their boss because of what they said about their work or because they’ve shared some other kind of private information about work online.”

Experts advise users of social media to be cautious when sharing information or befriending others online.

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