2. Peer Pressure

It’s very common to feel socially pressured to spend more money than we expected, especially when we’re around our friends. However, with the rise of social media, it’s easier than ever for us to be influenced by peers and spend money we didn’t want to. Bea hears from Anna, whose consumption of beauty bloggers on YouTube and Instagram was causing her to spend more than she expected on beauty bloggers. She explains why she finds peer pressure a difficult pressure to avoid and gives her tips for curbing it. Bea also chats to Matt, who has no social media presence at all, to see if this might be a radical way to prevent peer pressure in the digital age.

For help, details of organisations offering information and support with issues discussed, are available at bbc.co.uk/actionline.

You can join the conversation with the hashtag #Money101Pod. You can find Kalpana on Twitter @kalpanafitz and Bea is @beaduncan_.

The host is Bea Duncan. The producer is Renay Richardson. The assistant producers are Bea Duncan and Rez Marino. This is a Broccoli Production for BBC Sounds.