I am not sure how accurate this is.
Does using Facebook cause you to spend money you don’t have and to pig out on junk food?
As far-fetched as that might sound, a pair of U.S. marketing professors say they have found a relationship between time spent on Facebook and lower credit scores, higher credit card debt and bigger waistlines. The authors say their work is the first study of its kind to link Facebook to personal financial habits.
The research is among a growing number of studies that are seeking to explain how the use of Facebook and other new technologies is shaping our lives, for better and worse, in areas as diverse as social and civic interactions, commerce and psychological well-being. This month, Facebook said it surpassed 1 billion active users worldwide. About half of U.S. adults say they use at least one social networking site — twice that of just four years ago.
The researchers, Keith Wilcox of Columbia Business School and Andrew Stephen of the University of Pittsburgh’s business school, are not suggesting that people log onto Facebook and then, zombie-like, gorge themselves on debt and Twinkies. Instead, they say, the effects are subtle and cumulative.
The effects are most pronounced, they say, on Facebook users who have strong ties to their online friends. They say the process works like this: People browse through their social network of close friends. Participating in that supportive online community boosts their self-esteem. That brief increase in self-esteem reduces self-control.