The study sought to explore the perspective of youth regarding positive and negative effects of social networking on their personal and social life. The sample included 12 men and 12 women: undergraduate students who were studying in various universities of Lahore, with an age range of 20 to 25 years. We collected data through semi-structured interviews and focus group discussion, and content analysis was used to analyze the data. The results of this study showed that social networking had both positive and negative effects on the personal, academic, and social life of the youth. Positive impact of social networking sites involved constructive identity, improved confidence, decreased tension, increased socialization, and better understanding among friends and improved relationships with relatives. On the other hand the excessive use of these sites appeared to limit the contribution of youth in their families, and caused physical isolation. Social networking also appeared to have bad effects on their physical health, caused academic procrastination and diminished academic activities. Diverse impact of social networking across genders, and its misuses were also discussed.