CBS News released an article a couple weeks ago discussing how Tik Tok is becoming a major source for financial advice. The hashtag #personalfinancec has been viewed over 4.3 billion times on the platform, while #personalfinancetips has over 3.3 million views. One financial advisor on the app Tori Dunlap says "It proved to me that people on TikTok needed this financial advice. I didn't think Gen Z would care, but they do a lot. It proves it's needed in a nonjudgmental, nonshaming way." While Tik Tok users are able to earn money posting videos, one user, Nick Meyer, states that the real money comes from brand partnerships and collaborations with tax preparation software like TurboTax. Meyers says "I realized [Tik Tok] was an extremely powerful platform and that people were hungry for this kind of information, especially younger Gen Zers and Millennials who never found this information elsewhere. No one talked about it with them at work or within their families, and suddenly here it is on TikTok." For more information on how Tik Tok is shaping the financial world and tips to avoid fraudulent advice, read Tik Tok Personal Finance Tips.
Written By: Your Financially Fit Me Team
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