Personal finance influencers
Everybody needs to be equipped with knowledge that can help them make important financial decisions. When we are bogged down by financial responsibilities, we often turn to financial experts. With our growing dependence on the internet, financial experts often use platforms like Instagram and TikTok to promote financial services. There’s even a new term, a Finfluencer, who is a social media influencer who offers financial advice and expertise.
The growing popularity of financial advisors
Millennials and Gen Z turn to social media for information on almost everything, and information on investing is no exception. Social media platforms can segment financial advice into bite-sized pieces of content. The younger generations are not interested in lengthy financial conferences or finance books. For them, it is easier to access the same information by looking at their smartphones. According to a survey, Americans spend a little more than two hours on social media every day. This gives financial influencers an opportunity to reach massive audiences and leverage their reach by creating content. The pandemic has also made people think more seriously about their finances, and whether they should have a budget or cut down on spending. These concerns lead to a lot of questions related to managing money, which is where financial influencers come in.
Relevant content for a new generation of investors
A substantial chunk of financial content is directed at older and wealthier audiences. As a result, the younger generations cannot relate to such content. With the rising popularity of financial influencers, these younger consumers are also seeing themselves represented and having their questions answered. Given below are financial influencers who have helped people manage their money.
The Financial Diet
The Financial Diet is based in New York and is run by an all-female crew. It started in 2014 when Chelsea Fagan wrote a personal blog. Created by women, they were meant for women. Financial Diet is an organization that offers useful personal finance advice, and that shares personal stories. Their goal is to simplify the financial world, which seems complex to many.
Dasha Kennedy’s goal is to empower women to become their own financial advocates. She became an influencer because of her past financial struggles, and she wants women to become financially independent. Her financial strategies are simple, so that people can easily understand them. Her tips include building emergency financial funds and going through a financial detox. Her relatable advice has helped many women.
Humphrey Yang was a financial advisor, so his advice is considered to be trustworthy. He segments complex financial topics into simplified videos. His content is very informative and deals with different topics, such as shorting a stock, and capital gains tax. He has a faithful following on TikTok, where he posts one video each day on investing and finance.