This article investigates how media strongly affects children’s psychological development and consumer behavior, with a focus on the role of social media, television, advertising, and digital platforms. Drawing on established theoretical frameworks such as Social Learning Theory, Uses and Gratifications Theory, and Media Dependency Theory. The paper looks at how media shapes children’s social development, identity formation, and emotional well-being. The impact of advertising is critically examined, particularly in relation to the promotion of materialism and unhealthy habits among children. The role of parental mediation and media literacy in mitigating negative media effects is emphasized, beside the need for stronger regulatory policies to protect children from harmful content. Case studies from different media forms illustrate the dual nature of media, acting both as an educational tool and a driver of consumerism. Finally, the article concludes the importance of teaching media literacy through education and policy reforms to help children handle the digital world responsibly.