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Does who you socialize with online affect your income? It might!

 Wow! 

Have you ever heard the phrase, who you hang out with determines who you will become? Well, Facebook might have just proven that your online social network my also determine your wealth.


This article posted on TechCrunch on Aug 1, 2022 shows how Harvard economist, Raj Chetty, founded two papers that explored how your "friendships" on social media may affect your net worth.


"The researchers found that people with lower incomes were more likely to improve their financial situations over time if they were connected to people with higher incomes."

The article goes on to claim that those with high-SES friends show the highest upward income mobility! The researcher goes on to say that families with low-SES who connect with families with a high-SES can increase their income by 20% on the average! Talk about leveraging your social media. 

How can this help our low-income schools? Can we start linking families together on social media? How can we begin to help families connect with families in higher income areas through our twitter, facebook or blog posts? Could this association help our families and schools? Time will tell, but it is certainly interesting to think about!

Let me know what you think!!

Comments

  1. Coleen M.September 27, 2022 at 2:05 PM

    WOW! This really has me thinking in a few directions. I think that holistically if you are with a group day in and day out that it may have a huge effect on how you think and function. It's hard to say for online, in my opinion, because I have many friends with a lot of money and high-power jobs, but that does not change my choice to stay in the profession I love :) So I feel it may be a little of both.

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  2. Liza CalcagnoOctober 5, 2022 at 4:41 PM

    Hi Jennifer! It’s funny because I actually did not know that, “Who you hang out with determines who you will become” was a phrase in English. I grew up with a similar Spanish phrase, “Dime con quien andas, y te diré quien eres.” which translates to “Tell me who you hang out with, and I will tell you who you are.” I guess the Spanish speakers are a bit more direct but it has the same connotation. When I think of that phrase, the first image that pops into my mind is people together on their way somewhere in a car, and definitely not social media platforms. But, it does make sense since socialization has changed so drastically with technology. It's an interesting thought to transfer the information from the article into the school setting and our communities. I think the term “friendship” would then transfer more to “networking”, but nonetheless can be a great way for families to make some changes. Thank you for posting this idea and sharing your thoughts.

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