There's no magic formula or secret code that will automatically bump your follow count into the hundred thousands. Even if there was, I wouldn't be sharing it. Young people have been changing industries since the beginning of time, and recently the digital media market has seen amazing growth thanks to young people. Often called influencers, millennials are specializing in sharing their lives with the world, some even making a living doing so.

If you're looking for a list of foolproof ways to make money on social media, you've come to the wrong place.

Success does not come easy on platforms like Instagram or Youtube. It can take weeks and even years to rack up numbers that equate to paid sponsorships and ad shares. This is discouraging for most young creators who put countless hours into their work. Many who join social media platforms are almost immediately discouraged by how little attention their hard work is receiving and give up on their craft before they have even a taste of success. There are a select few creators who, for whatever reason, make it big on Youtube and Instagram. These internet sensations rack up millions of views monthly and thousands of dollars each year.

A study done by "Business Insider" in 2015 revealed that Pewdiepie earned $7.4 million in 2014. At the time, he was one of Youtube's most followed channels. While this number alone is impressive, a more recent study has shown just how much social media is changing. More recently the new estimate of Pewdiepie's earnings came in around $17 million for 2017. He is now the most subscribed to person on Youtube with over 61 million subscribers.

While the numbers above sound enticing, don't quit your day job just yet. Earlier this month "Business Insider" published an article about a millennial living in New York City who, like many young people today, dreamed of a "Gossip Girl" lifestyle. And who can blame her? After settling down in NYC, Lisette racked up numerous credit card bills buying superficial things like Louis Vuitton purses, 5-star meals, and the latest fashion trends. The 26-year-old Miami native admits to at one point having ten thousand dollars in credit card debt. Ten. Thousand. Dollars.

"I was living above my means. I was living a lie and debt was looming over my head."

Following the publication of the article, the young influencer fired back with her own version of the story which explains that over a year she accumulated smaller debts of one to two thousand dollars, and paid them off relatively quickly. Whichever side of the story you are willing to accept, no Instagram is worth thousands of dollars of debt. So while it may be easy to dream of the picture-perfect life, no amount of debt is justifiable chasing an unattainable fantasy.

While there are two sides to the coin, to pursue social media careers or to stick to your current job, there is no clear answer. Though only a small percentage of influencers make enough money from social media to live comfortably, who is to say that couldn't be you? When you are considering pursuing a social media endeavor, Lisette says the most important things will always be being authentic and creating connections. These tips have been echoed by professionals in the business, like Michael Humphrey, a "Forbes" contributor specializing in social media.

So if you decide social media is the right path for you, pursue it wholeheartedly, but with a grain of salt. If those likes and comments don't start pouring in immediately, don't panic. It takes time, patience, and dedication to see success at any level.