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A problem shared is a problem solved by the Facebook generation

New technologies may be shrinking the world and making it a faster place but according to new research they may also be opening up financial discussions.

The role of social networking sites on the internet has grown rapidly over the last few years and their influences on the generation of young workers are clear to see.

A study by US author Beth Kobliner found that young workers are more open to discuss salaries, debt problems, credit card bills and taking out loans with friends, family and others than previous generations were.

The accessibility of new technologies - and ways of communicating - mean that so-called friends on social networking sites can help young workers sort through financial problems, often avoiding professional debt advice.

Ms Kobliner attributes the increased openness in part to a shared sense of struggle by people in their 20s, who have come of age in a turbulent economic time, including the dotcom boom, the September 11 gloom and the credit crunch, the Australian reported.

"There is a bunker mentality. They've had it rough, jobs are precarious and debts are outrageous," said Ms Kobliner.

Bill Coleman, chief compensation officer of Salary.com, said there was much more honesty about pay in the MySpace/Facebook generation.

"This is a generation that is much more attuned to teamwork, collaboration and sharing information," he said.

"Everything they do is a kind of group event. How do you know, when you get your first job offer, if $45,000 is a good offer, a bad offer or an OK offer? You go to your friends."

High interest rates on home loans and credit cards are adding to the sense of panic, with Facebook and MySpace often coming to the rescue of Generation Y.

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