At best, Facebook is a great, fun way to keep in touch with your friends and family. The worst thing about it is, maybe, it's a time-waster that keeps you from doing more important stuff.

That is, unless it actually costs you money.

According to GenXFinance.com, Facebook can actually hit you in the wallet in these ways:

• Employment -- Employers are now using social media sites to check up on prospective new hires. If they see something they disapprove of, it could cast a negative light on you and keep you from getting a job.

• Tax and Debt Collection -- The IRS and debt collection agencies are using new methods to hunt down people who aren't paying their fair share. If you're cheating on your taxes or trying to escape a debt, the last thing you want to do is bring attention to it online even if you think only your friends are listening.

• Friends and Family -- When friends and family see your status update about getting a raise, they'll start looking for you to pick up the check when you're out to eat. Or worse, they'll ask you to co-sign a loan with them, which can mean big trouble for your credit if they don't pay.

• Online Scams -- In the past, email was the preferred method of scamming people online. Now, there are Facebook viruses and people posting fake contests on Twitter everyday, and it's easy to get caught up in these scams.