The cost of living is spiraling. Prices are going up, household expenses are rising, and the U.S. inflation rate reached a 40-year record high in 2023. Many consumers are looking for new ways to deal with this situation and refer to social media for support. So, which social media platforms have the most helpful content to deal with the current cost of living crisis in the U.S.? According to an exclusive survey by We Are Social and Statista Q, around 61 percent of TikTok users in the United States find helpful content there. Coming on number second is YouTube, as 56 percent of YouTube users find life hacks, tricks, money saving tips and other suitable advice to deal with inflation in 2023.

The inflation rate in United Kingdom reached a 41-year record high in October 2022. High energy bills, soaring food costs, and various other issues have caused the UK inflation rates to remain in double-digits ever since September last year. This has forced people to look for new ways to deal with the ongoing cost of living crisis, and social media seems to be one of them. Which social media platforms have the most relevant content for consumers to deal with the ongoing situation? According to a survey by We Are Social and Statista Q, around 57 percent of UK TikTok users find helpful content there. Claiming the joint second spot on this list are YouTube and Facebook. Instagram comes on number five on this list, as 41 percent of Instagram users find helpful content there to deal with this crisis.