Flourish - eMag - Feb 25 - Flipbook - Page 57
Almost one in three Australians is
seeking 昀椀nancial advice from social
media in昀氀uences, according to new
research. Data from Compare Club
found half of those aged 18-24 and
10 per cent of people aged over
55 use platforms like YouTube,
Facebook, and TikTok for 昀椀nancial
insights.
Experts warn that the rise of
“昀椀n昀氀uencers” — or 昀椀nancial
in昀氀uencers — could negatively
impact how young people interact
with money.
UNDERSTANDING
FINFLUENCERS
Fin昀氀uencers leverage platforms like Instagram, TikTok, and YouTube to discuss topics
ranging from budgeting and saving to investing in stocks and cryptocurrencies. Their
relatable content resonates, especially with younger audiences seeking straightforward
昀椀nancial guidance.
THE APPEAL OF
FINFLUENCERS
Several factors contribute to their popularity:
•
Accessibility: Fin昀氀uencers present 昀椀nancial concepts in an easy-to-understand
manner, making them approachable for those new to 昀椀nance.
•
Relatability: Sharing personal experiences and success stories fosters a sense of
connection with their audience.
•
Engagement: Interactive content, such as Q&A sessions and live discussions,
encourages active participation.
