Would you take financial advice from a reality star?
The Independent|May 27, 2024
As celebs from popular UK shows such as 'Love Island' and 'Geordie Shore' are charged with promoting an unauthorised foreign exchange scheme, Katie Rosseinsky delves into the dubious world of 'finfluencers' and their Instagram followers
Katie Rosseinsky
Would you take financial advice from a reality star?

You might order an outfit that you spotted an influencer wearing in their holiday snaps, or buy the beauty product that they’re constantly praising. You might even borrow decorating inspiration from their home or screenshot a picture of them to show to your hairdresser. But would you follow an influencer for their financial advice – and put that advice into practice?

For Generation Z, the answer seems to be a resounding “yes”. For them, financial influencers (or “finfluencers”) are fast replacing more traditional sources of money guidance. In 2022, a study found that 62 per cent of 18 to 29-year-olds in the UK follow finfluencers on social media, with 74 per cent trusting the advice they provide; 90 per cent of these young people had changed their financial behaviour as a result. Many of these social media accounts are “explaining complex concepts in an easy to understand way that can help boost financial literacy”, says Rhodri Preece, who is the senior head of research at CFA Institute, a professional body for people working in investment. So what’s not to like?

この記事は The Independent の May 27, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は The Independent の May 27, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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