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Over the last several years, TikTok has evolved from a platform famous for lip sync videos and viral dance trends and into a hub of informational content — including financial advice. In fact, many young people are turning to the financial TikTok space — dubbed #FinTok — as their primary source of personal finance information.
According to a Fall 2024 survey by Intuit Credit Karma, 77% of Gen Zers and 61% of millennials actively seek out financial advice online or through social media platforms, with around half (49%) of Gen Zers favoring TikTok over all other platforms.[1]
It’s not hard to see why: Finance TikTok offers a fun, easy, and accessible way to learn about challenging topics, from paying down debt to compound interest. Advice is typically dispensed in a trendy, engaging way and often spreads quickly, reaching millions in a matter of hours.
But just because advice goes viral doesn’t mean it’s solid. While many financial TikToks are credible, the platform is also rife with false or misleading information that can potentially lead to losses and even legal trouble. Below, learn about the good, the bad, and the ugly side of financial TikTok, plus how to vet advice you hear there.
Key Points
- TikTok’s financial advice segment, #FinTok, is popular for its accessible, relatable, and engaging content.
- #FinTok can improve financial literacy and spark interest in money management.
- Risks include misinformation, trend-driven investments, and lack of personalized guidance.
- Verify advice with reputable sources, and consider your unique financial situation.
- Watch for red flags like get-rich-quick promises and excessive product promotion.
What Is FinTok and Why Is It So Popular?
“FinTok” is short for “Financial TikTok,” referring to a segment of the platform where content creators focus on financial topics. These creators — so-called “finfluencers” — range from financial advisors and accountants to everyday people sharing their personal finance journeys.
#FinTok influencers frequently offer tips and discussions on financial basics, like how to choose a bank account, set up a budget, or save for a down payment. You can also find #FinTok content on credit score hacks, stock recommendations, side hustle ideas, and even explanations of economic news.
The popularity of #FinTok can be attributed to several key factors:
- It’s accessible: TikTok’s short-form video style breaks down complex topics into digestible, entertaining snippets that can be much easier to understand than lengthy articles or financial textbooks. It also removes the paywall that often separates consumers from financial education and advice.
- It’s relatable: Many creators use personal anecdotes to explain financial decisions, which can resonate with viewers navigating similar challenges. #FinTok influencers also use humor and storytelling to connect with viewers, making the advice feel more real and less like a lecture.
- It’s addictive: The fast-paced, visually engaging format of TikTok also encourages binge-watching. This means someone can end up spending an hour or more learning about financial planning, investing, or credit scores without ever intending to.
All of these factors combine to make #FinTok a surprisingly powerful and popular space for financial education. The question remains, is this a good thing?
Yes, and no. While TikTok financial advice is often valid, you can also find numerous examples of terrible financial advice, such as not paying your taxes or putting your toddler on your payroll.
As a result, it’s essential for users to view TikTok’s financial space with both curiosity and skepticism.
The Potential Benefits of FinTok
Here’s a look at some of the positive impacts of #FinTok:
Increased Financial Awareness and Interest
#FinTok plays a valuable role in sparking interest in and discussions about financial topics, particularly among younger users. Many adults today never learned about money management in school or at home. TikTok videos can serve as an entry point for learning about essential concepts like budgeting, saving, credit scores, investing, and debt.
In one survey from late 2024, 68% of #FinTok users said that viewing financial videos on TikTok has noticeably improved their financial situation at home. What’s more, 53% reported they plan to use #FinTok more in the coming year. And users of all ages appear to be benefiting: Gen Z viewers gained 49 pieces of financial advice on average in 2024, while millennials gained 44, and boomers picked up an average of 32 pieces of money advice on the platform.[2] When cross-checked for validity, these bits of advice can encourage positive money habits.
Exposure to Diverse Financial Topics
Once TikTok sees you’ve watched some #FinTok videos, it will likely serve up plenty more. As a result, users are frequently introduced to financial topics they might not have searched for on their own. One day you might see a video explaining savings buckets and the next, one about the FIRE (Financial Independence, Retire Early) movement. This exposure can help broaden your financial literacy and introduce you to perspectives and strategies you hadn’t considered before.
Community Building and Shared Learning
#FinTok fosters a sense of community. The comment sections often turn into spaces where people ask questions, exchange tips, or just support each other’s points. Plus, users can often find creators who share similar financial backgrounds, goals, and struggles to their own, whether you’re opening your first checking account or thinking about your retirement portfolio. That feeling of “we’re all figuring this out together” can make personal finance feel less intimidating and more accessible. #FinTok has also helped reduce the stigma surrounding talking about money.
The Risks and Downsides of FinTok Advice
While there are benefits to #FinTok, there are significant risks to relying too heavily on the platform for financial guidance. Here are some key drawbacks to keep in mind.
Misinformation
Not every #FinTok creator is an expert. While some influencers are licensed or trained in finance, many are not. What’s more, a sizable portion of social media finfluencers in general and TikTok financial influencers in particular make money through partnerships on their platforms, meaning their advice may be more in their — rather than their viewers’ — best interests. Scrollers with little financial background may not know how to distinguish credible advice from biased advice or misinformation.
According to the Intuit Credit Karma survey, 37% of Gen Zers and 25% of millennials have ended up in trouble after taking action on financial advice from social media or online. Around a quarter of both Gen Zers and millennials also admit they’ve been scammed by bad actors pretending to offer financial guidance.
Trend-Driven and Potentially Risky Investment Strategies
TikTok thrives on trends, and that extends to financial advice. Investment fads, like meme stocks, often go viral without proper risk context. In fact, many videos imply that following their investment advice would guarantee wealth or returns, a highly misleading idea given the volatile nature of the market.
According to data gathered by Social Capital Markets, 83% of stock-related videos on social platforms lack disclaimers, 70% actively promote specific stock picks without offering adequate context or addressing risks, and some 57% implied guaranteed returns. Among the platforms analyzed, TikTok emerged as the most problematic, with 91% of videos lacking disclaimers and 70% encouraging stock purchases.[3]
Recommended: How to Use Social Media for Investing Tips
Lack of Personalized Financial Guidance
Another significant limitation of #FinTok is the lack of personalization. Everyone’s financial situation is different, and advice that works for a 22-year-old with no debt may not suit someone with a mortgage, kids, and student loans. Finance TikToks often don’t account for these nuances. What works well for one person can backfire for another.
How the TikTok Algorithm Can Impact the Advice You See
TikTok’s algorithm significantly impacts the advice you see by personalizing your “For You” page based on your viewing history and engagement. This means the platform learns your preferences and shows you content, including advice, that it predicts you’ll like. The algorithm considers factors like the videos you watch, like, comment on, and share, as well as your device and account settings, to tailor the recommendations.[4]
While this might seem helpful, it can create an echo chamber over time. You could be repeatedly exposed to one style of financial advice — whether good or bad — without seeing alternative viewpoints.
The TikTok algorithm also impacts creators, who will often tailor content to what performs well rather than what is most accurate. This can incentivize sensationalized advice or unrealistic promises, which can skew users’ understanding of what’s possible to achieve with their money.
Recommended: Effects of Social Media on Your Finances
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How to Evaluate Financial Advice on TikTok
Given both the value and the pitfalls of #FinTok, it’s important to develop a critical lens for vetting the advice you get on this platform. These tips can help:
Identify the Creator’s Credentials and Expertise
The first step is to consider who is giving the advice. Are they a Certified Financial Planner® (CFP) professional, Certified Public Accountant (CPA), or someone with a background in economics or finance? Or are they simply sharing their personal experience? While personal anecdotes can be helpful, professional credentials add a layer of trustworthiness.
To check a creator’s background, you can go to the Financial Industry Regulatory Authority’s (FINRA’s) professional designations database. There, you can learn what different letters mean and how to verify someone’s credentials.
Cross-Reference Information and Do Your Own Research
A good rule of thumb is to never rely solely on one TikTok video for financial decisions. It’s important to always cross-reference with reputable sources such as government websites, financial institutions, or recognized publications and financial sites. The more you triangulate your information, the better your chances of making wise and informed money decisions.
Be Skeptical of “Get Rich Quick” Schemes and Unrealistic Returns
Unfortunate but true: Financial success usually takes time, discipline, and patience. As a result, you’ll want to be highly skeptical of any creator promising quick riches, secret hacks, or guaranteed high returns with little to no risk.
Consider Your Own Financial Situation and Goals
Good financial advice is contextual. Before you act on advice you get on #FinTok, it’s wise to ask yourself: Does this apply to my life? Your age, income, debt, risk tolerance, and long-term goals are all important factors when making money decisions. While it can be great to use #FinTok as inspiration or a starting point, it’s important to tailor decisions to your unique circumstances.
Watch Out for Red Flags
Here are some signs that influencer advice may be inaccurate or misleading (or possibly dangerous):
- Pressure to act quickly (e.g., “Buy this now before it’s too late!” or “You’re missing out if you don’t do this!”)
- Dismissal of risk or downsides
- Vague or unverifiable claims
- Blanket solutions or one-size-fits-all financial advice
- Excess product promotion
- Encouraging get-rich-quick methods
- Any advice that encourages you to borrow money
- Oversimplification of complicated financial topics
- Lack of transparency (e.g., not disclosing affiliate links or sponsorships)
Perhaps the easiest way to spot bad TikTok money advice is to ask yourself a simple question: Does it sound too good to be true? No matter what a finfluencer says, it likely not a good idea to use a car loan to buy an Airbnb or sink all your savings into a single stock.
Recommended: Achieving Financial Discipline
Finding Reliable Financial Information Beyond FinTok
FinTok can be a helpful supplement to your financial education, but you generally don’t want to use it as your only source. Here are some trustworthy alternatives:
- Books: Some popular and respected titles include: Get Good With Money by Tiffany Aliche; How I Invest My Money by Joshua Brown and Brian Portnoy; and I Will Teach You to Be Rich by Ramit Sethi.
- Podcasts: Podcasts can be great for learning about financial topics while on the go. Shows like The Ramsey Show, Planet Money, So Money, SoFi’s The Important Part and Who Dares Wins, and BiggerPockets Money offer deeper dives into various financial topics.
- Online courses: Platforms like Coursera, Khan Academy, and Udemy offer finance classes (often for free) for all levels.
- Government resources: Websites like MyMoney.gov, Investor.gov, and the Consumer Financial Protection Bureau (CFPB) provide free, unbiased information.
- Your bank or credit union: Many institutions offer free financial information and tools to help customers manage their money, track expenses, and plan for the future. These tools may include budgeting apps, online calculators, and educational resources.
- Professional help: For personalized advice, consider working with a financial planner or advisor. They can help you understand complex financial concepts and develop a comprehensive financial plan tailored to your goals, needs, and values.
The Takeaway
Getting financial advice from the social media platform TikTok, or #FinTok, has been a boon to many people looking to level up their money game. But learning about finance through this format also comes with some serious risks, including one-size-fits-all advice and the spread of misinformation and possibly harmful advice.
While a 60-second video might introduce you to a valuable concept, it’s rarely the whole story. When using TikTok for financial advice, it’s important to verify what you hear with other sources and, most importantly, make sure your financial decisions align with your unique needs and long-term goals.
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FAQ
What exactly is FinTok?
FinTok is a term used to describe the financial community on TikTok, where creators share money-related content like budgeting tips, investing strategies, credit advice, and side hustle ideas. It blends entertainment with education, making financial topics more accessible — especially for younger audiences.
While some creators are licensed professionals, many are everyday individuals sharing personal experiences or simplified advice. It’s important to approach the content critically, as not all advice is accurate or suitable for everyone.
Can I really get good financial advice on TikTok?
You can find useful financial advice on TikTok, especially from certified professionals or experienced creators who break down concepts in simple terms. However, because TikTok is an open platform, the quality of advice varies widely. Some creators oversimplify or sensationalize content to gain views, which can lead to risky or misleading guidance. Be sure to fact-check any advice you hear, cross-reference with reputable sources, and consult a professional financial advisor for major financial decisions.
How do I know if a FinTok influencer is trustworthy?
To determine if a FinTok influencer is trustworthy, start by checking their credentials — are they a Certified Financial Planners® (CFP) professional, Certified Public Accountant (CPA), or another licensed professional? Also look at their content for transparency: do they cite sources, acknowledge risks, or explain limitations?
Trustworthy influencers don’t promise quick riches or guaranteed returns. Be cautious if they push specific investments or products without disclosures — it could be a red flag for a paid promotion or scam.
What are some common financial scams on TikTok I should watch out for?
Common scams on TikTok include fake investments, “get rich quick” schemes, and pyramid-style side hustles (where the primary way to make money is by recruiting new members into the scheme, rather than by selling actual products or services).
Scammers often promise high returns with little risk, ask for personal information or upfront payments, or claim you can make thousands with minimal effort. Some even use fake screenshots or testimonials to build credibility. Always be skeptical of too-good-to-be-true claims and never send money or personal information to someone you met through TikTok.
What are some alternatives to FinTok?
If you’re looking for trustworthy financial education beyond FinTok, consider YouTube channels, podcasts, and blogs from certified experts, as well as respected financial news outlets and government sites. You can also find free personal finance courses on platforms like Coursera, Khan Academy, and Udemy. These alternatives generally offer more in-depth and reliable financial guidance than short-form social media content.
Article Sources
- Credit Karma. Gen Z feels burned after taking financial advice from social media.
- Chime. Chime Declares 2024 as “The Year of #FinTok”.
- Social Capital Markets. 71% of Social Media Financial Advice Misleads Gen Z and Millennials.
- Buffer. TikTok Algorithm Guide 2025.
About the author
Julia Califano
Julia Califano is an award-winning journalist who covers banking, small business, personal loans, student loans, and other money issues for SoFi. She has over 20 years of experience writing about personal finance and lifestyle topics. Read full bio.
photo credit: iStock/izusek
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