Asher Sisneros

It might sound absurd, but yes, if you are a teen spending hours a day on social media platforms such as YouTube, TikTok and Instagram, it is costing you millions of dollars. Howbeit, this entire argument makes sense when you factor in Benjamin Franklin’s famous quote, “Time is money.” Shirley Temple really develops this idea further by saying, “Time is money. Wasted time means wasted money, means trouble.” This is not a new idea, but putting it into perspective is the harder part.

The question becomes, how much “money” am I discarding by squandering my time? Dr. Gary North has a formula for finding this metric. First, we need to understand the average time you spend looking at social media, which, according to an article by Forbes, is an average of 1,300 hours a year. If you spent the same time developing a side hustle business, and paid yourself $20 an hour, that would equal a whopping $26,000 a year, or $2,167 a month! However, it gets better, or worse, depending on your perspective. After that, if you devote that much time to starting a business, and reinvest all of that money into the business for your retirement, expect at least 10% interest a year. Teens obviously range from 13 to 19, so let’s meet in the middle and apply this to a 16-year-old. A monthly salary of $2,167 reinvested at 10% interest, compounded annually for 4 years equals $145,745. Now, you are twenty years old and it is time to get a raise for all that labor. When we increase the salary to $50 an hour, you get $65,000 annually, or $5,417 a month. Accounting for a principal of $145,745 plus $5,417 a month with 10% interest by their retirement at 65, that screen time has accumulated a value of $57,000,000! As you can see, recreational activities online have a high cost. Understand, that is money you made of a side hustle. With all this in mind, what do you plan on doing about it? Ultimately, starting a business would be a far better use of your time than scrolling through social media. And don’t say you lack the time. Because you do not. We already established that. Don’t waste time. It is costing you millions. Instead, start a business and make millions.

If you do not believe me, here’s a link to a financial calculator: Compound Interest Calculator | Investor.gov Calculate the number yourself. It’s jaw-dropping.