Think before you follow: Financial advice online isn’t always what it seems

In today's digital world, managing your money can feel as easy as scrolling through your phone. Social media platforms like TikTok and Instagram are packed with "finfluencers" - influencers who share financial tips and advice. Some of their content can be genuinely useful, helping to explain tricky topics like budgeting, saving, or investing in a way that's relatable and easy to digest.

But before you act on that advice, it’s important to pause and think: Is this information really accurate? And is it right for me?

The appeal of Finfluencers

It's easy to see why so many people, especially younger audiences, are drawn to financial influencers:

• They make finance easy – using everyday language, memes and real-life examples
• They offer easy access – traditional financial advice can feel expensive or intimidating; finfluencers seem more approachable
• They inspire – hearing success stories from people who seem just like you can be motivating
• They build community – many finfluencers encourage open discussions, questions, and shared experiences.

With digestible content just a click away, it’s no surprise that so many trust what they see. Research from the Financial Conduct Authority (FCA) shows that 62% of 18–29 year-olds follow finfluencers, and of those, 74% trust their advice.

But trusting too quickly can come at a cost.

How to protect yourself

Before you act on financial advice you see online:

• Research the source – Look into the person’s background, qualifications and motivations.
• Seek multiple opinions – Don’t rely on one voice. Check trusted, official sources too.
• Verify companies – Before investing or sharing personal information, check that the company is FCA-regulated.
• Trust your instincts – If something sounds too good to be true, it probably is.

Remember: Good financial advice is about what’s right for you and your situation — not about quick fixes or viral trends.

For free, impartial and trustworthy guidance, visit MoneyHelper or call on 0800 138 7777. We’re here to help you make confident, informed decisions about your money.