Do some people care more about their social networks accounts than online banking?

Do some people care more about their social networks accounts than online banking?

Discussion in 'Internet Chatter' started by froggyboy604, Dec 7, 2017.

  1. froggyboy604

    froggyboy604 Moderator Staff Member Moderator

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    A lot of people have very little money or no money in their bank after paying off all their debt and bills, and can be losing money by keeping money in the bank because of monthly bank fees, and extra fees for withdrawing their own money too much from the bank's ATM or Teller. A lot of poor people don't earn enough money to have money left over to save in a bank after paying off all their bills, and large loans like student loans.

    But, social networks like YouTube, Facebook, Instagram, Twitter, Twitch, Dailymotion, Hubpages, Tumblr, Adult sites, etc are ways to make money from ads on the website, and promoting your music, ebook, game and software which you sell on your own website, and 3rd part sites Google Play, iTunes, Amazon, eBay, or Steam. There are some social network members who get paid to promote other companies product like software, electronics, jewellery, food, or cleaning products on your different social networking profiles, and website.

    eBay, Google Play, Steam, iTunes, and Amazon Marketplace can also be considered social networks because people use these sites to talk to and rate sellers, and buyers where they need to be social to use every feature on the site.

    It is possible to store your money/wealth without a bank by buying Cryptocurrency like Bitcoin, gold, silver, luxury watches made by Rolex and Omega, luxury cars, houses, artwork/antiques, so you can sell them in the future when you need more money to pay for more expensive bills like medical bills, dentist, nursing home, or a vacation.
     
  2. fantanoice

    fantanoice Quiet, please, it's snack time! Full GL Member

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    I'm not sure I understand the question. Are you saying people invest in their social media as an alternative to saving their money with a bank?
     
  3. froggyboy604

    froggyboy604 Moderator Staff Member Moderator

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    I'm asking if there are people who care about their social networking account more than online banking.

    I think older people will care more about social networking because I know some old people who never used the internet for online banking, and don't know how to use complicated websites, and don't trust using the internet for more sensitive tasks like online banking, online shopping, important mail, and taxes because of hackers, crooks, and cybercriminals which scam internet user.

    But, older users use social networks like Facebook and video chat programs like Skype to talk to their adult children and grand children who live away from them.

    YouTube, and Dailymotion are one of the few video-based social networks where older adults can re-watch old scenes from shows like Star Trek, Star Wars, and other old shows, or watch old music videos of older musicians like Elvis and the Beatles for free, or a few dollars on Google Play video which uses YouTube to host video.

    I think there are young people who invest their money to build up their social network profiles, and their own website by spending money on a video camera, digital camera, nicer computer for Twitch streaming, video editing for YouTube or Photo editing for DeviantArt, and buy social network ads to get traffic to their posts faster, so they can post more quality posts on social networks like YouTube, Dailymotion, Instagram, Twitter, and Facebook and their own sites where they can earn money if they work hard, and keep trying.

    There are also a lot of young people under the age of 18 who don't have a bank account, or can't have a bank account without parental permission, so they spend a lot of their money from allowances, odd jobs, and part-time work on smartphones, tablets, and computers which they use a lot for making posts for social networks like Instagram, Snapchat, YouTube, Twitch, Facebook, and Twitter.

    Credit Unions, and investing in small investments like gold and silver coins can be a good way of saving money, and possibly making extra money, so credit unions and small investments like gold coins can be a good alternative to the traditional banking system where there are people who got ripped off by the bank if they don't pick their bank carefully.

    Examples of bank rip-offs

    Watchdog slams U.S. Bank for consumer rip-off

    U.S. Bank will pay $57 million in consumer relief and penalties for unfairly charging more than 420,000 customers for identity protection and credit-monitoring services they never received, a federal regulator said Thursday.
    Watchdog slams U.S. Bank for consumer rip-off



     
    Last edited: Dec 8, 2017
  4. Demon_Skeith

    Demon_Skeith Administrator Staff Member Administrator

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    Afraid I'm not seeing the point to this, you don't solely have to focus on online banking. I know many old people who would rather die than use a PC for their fiances.
     
  5. froggyboy604

    froggyboy604 Moderator Staff Member Moderator

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    I know that many old people still use the bank tellers, and refuse to use an ATM to deposit and withdraw their money. They also refuse to use a PC for any of their finances including offline activities like keeping copies/scans of their bank statements, or using Excel, Accounting, and Tax software to keep track of their money, and rather pay an accountant to do their taxes. They are also highly unlikely to use the internet to use their bank account, buy stuff, send money, or trade money like trading 1 US Dollar for 1 Canadian Dollar.

    There are some people who are more extreme, and don't trust the banking system, and think the workers who work at banks can steal their money. They are also afraid of security vulnerability in the bank's computer network can wipe out or steal all their savings when a hacker takes control of the banks computer system.
     
  6. SuwakoMoriya

    SuwakoMoriya Well-Known Member Full GL Member

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    I don't think it's a good idea to compare those two.
    Social networking and online banking are entirely different things, it's like I would ask someone "do you prefer a Mercedes or Mount Fuji?".

    But to answer this one any way from my perspective:
    I only use Mastodon as my social media, and I occasionally use Lobi, and LINE's built-in social network too.
    But I typically use Discord more often, but that's a chat client, not a social platform.

    As for online banking, I don't use it so much unless I need to, but I always make sure I have enough money all the time.
    And when there's a lot, I like to keep an eye on it sometimes. ww

    But being socially isolated and having not to use my bank too often, I don't think I have a preference here.
     
  7. froggyboy604

    froggyboy604 Moderator Staff Member Moderator

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    A few social networks have a limited banking features like sending money, and storing money. But, you can't get a loan from a social network like a bank, and there is no way of investing your money to hopefully get more money if things go well. WeChat Social Network Payment which is a popular way to send, receive, and temporarily store money in China.

    Facebook now lets users send money by linking their Facebook account to a debit card, credit card, or PayPal.

    It is possible to send money with Facebook according to Facebook: the latest way to transfer cash

    "Facebook users there have been able to transfer money to their friends free of charge on Messenger, the site’s instant messaging service, since last year, while Snapchat users in the United States can also send money to contacts using “Snapcash”."

    But, it is not yet possible to store money like $10 in a Facebook account. But, I think Facebook money storage account is coming soon because Facebook already sells Facebook Game giftcards which store your cash value in digital form like $10 USD in Facebook game money similar to Sony Playstation PSN giftcards where you buy the card at a store, and use the gift code to deposit the money in your PSN account to use at alatter time.
     
  8. SuwakoMoriya

    SuwakoMoriya Well-Known Member Full GL Member

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    I didn't know about that.
    I know there is LINE Pay, but I didn't bother to try it yet.
     
  9. froggyboy604

    froggyboy604 Moderator Staff Member Moderator

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    I never bother to use social networking payment mainly because no one sends me money through social networks, and I don't have a lot of money to store online. I can see some people using social network to store money on social networks like WeChat Pay, so they can hide money from a family member like wife or husband, so they can't figure what you will get them for Christmas based on how much money you took out of a bank account, and where you spent the money if you use a credit or debit card to pay.
     

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