Young adults are turning to TikTok for financial advice. During the pandemic, young users have turned to TikTok for entertainment, but now they’re turning to the platform for financial tips. While it still remains a “relatively niche” subject on the app, it has been growing. In June, the #investing hashtag racked up 289 million views, while other iterations (including #investingtips, #realestateinvesting, and #investing101) have added up to millions more. The interest in these topics have been sparked in part because of the recession caused by the pandemic, with high unemployment especially impacting Gen Z employees. Because many of them don’t have the money to hire a financial advisor, the app is a helpful free resource, and some have even started their own accounts to reach young users. (CNBC)
