NEW GEN Z 101: Unlock & Outlast Microtrends

Gen Z and Millennials are turning to social media for financial advice. 

Jul 14 2021

Gen Z and Millennials are turning to social media for financial advice. YPulse told you how TikTok has become a platform young people are using to seek out professional/career advice (along with entertaining content, of course), and it appears financial advice is one of the top types of information they’re searching for across social media. According to a new survey from Credit Karma, 56% of Gen Z and Millennials intentionally seek out financial advice online or through social media. Instagram is the top place Gen Z is searching, while Millennials are more likely to use Facebook, and 75% say they follow social media influencers who create content revolving around personal finance. The nature of social media (and influencers/content creators) makes it easier—and more entertaining—for everyday consumers to search for and learn about complex topics like personal budgeting, taxes, and investing. Still, not all financial advice on social media is accurate, and TikTok recently made a move to ban content promoting financial services and products to protect youth from misleading information. (WWDHYPEBEAST)