Finland addresses social media impacts on youth mental health and spending

Discussions regarding the impact of social media on Finnish youth are intensifying, focusing on both mental health risks and consumer behavior. The Finnish government, led by Prime Minister Petteri Orpo, has expressed a desire to protect children from the harms of social media, such as bullying, harassment, and exposure to harmful content. However, legislative experts note that national regulatory powers are limited because many social media companies are based outside of Finland.

A recent study on youth financial literacy, the Youth Financial Literacy Barometer, reveals that approximately 31 percent of 15–19-year-olds feel social media influences their purchasing decisions. The impact is notably higher among girls, with 20 percent reporting impulse purchases driven by social media compared to 10 percent of boys. Researchers suggest the actual influence may be even greater than self-reported figures indicate.

While 40 percent of youth receive financial information from social media influencers, trust in this advice is low; only 17 percent of respondents trust influencer-provided financial information, a level of trust similar to that placed in artificial intelligence. The study also highlights that wealth-related pressures on social media disproportionately affect youth who are already in weak financial positions.