There’s more to TikTok than dances, challenges, and fashion trends, and Gen Z are now using it to learn about something many of us don’t know: money.
New data from the current account switching service has revealed that TikTok is becoming Gen Z’s preferred destination for financial advice. The research revealed that the generation is increasingly turning to the social media platform for financial insights from traditional media, their friends and family.
Almost two-thirds (58%) of 1,000 18-24 year olds surveyed follow TikTok influencers who talk about budgeting, money or personal finance. Nearly half say the video-sharing app’s influencers helped them make a financial decision, including investing in stocks or choosing a mortgage.
So who are the creators Gen Z places in their trust and financial health, and what can we learn from them?
Aiming to help women regain control of their money, Laura Pomfret is the brains behind Financielle. With her simple and engaging videos explaining important financial issues and methods to promote your independence, she gained huge following, resulting in the release of the Financial app.
Poku Banks is a creator who promotes financial education and independence through short, engaging videos covering everything from investing to energy bills, and buying a car to college life. His no-frills style has made him extremely popular on the platform.
Tori Dunlap is a creator and author who talks about all things investing, recession planning, and saving. She has gone from strength to strength, hosting the Financial Feminist podcast, publishing a book and developing more than two million followers on TikTok.
With over 1.5 million subscribers, creator Seth Godwin is a personal finance expert who wants to help people save and invest when it comes to big-ticket items like cars and help people improve financial indicators like your credit score.
Rachel Richards retired at 27. Yes, you read that right – and she wants to help others do the same if they want to. With her content on investing, property, and single life, she tries to help people gain financial and personal freedom.
With over 85,000 followers on TikTok, Alyssa Davies is an author and self-confessed “money nerd.” She creates content about parenting, relationships, and personal growth over your finances, with a down-to-earth and honest approach to her style. When Davies joined the platform, she was struggling with debt and she shares her journey to a more financially free life. She accepts that money is emotional and wants to empower you to manage it.
From saving money on car insurance to saving for Christmas, Beth creates informative advice videos to help people “get out of debt.” She creates helpful budget resources and shares tips for dealing with the cost of living crisis.
Emma, aka The Broke Generation, creates videos about scams, financial wellness, organization, and saving money while traveling. Her small but loyal following on TikTok and her popularity on Instagram where she has 54,000 followers, regularly connects to discussions on topics such as emotional spending.
The best videos delivered daily
Watch the stories that matter, straight from your inbox