TikTok financial advice is becoming really popular and one thing that a lot of teens mention is the older generation complaining about how the younger generation isn't thinking too much about money. Although the traditional way of earning, saving, and investing money has changed, it seems like the change has become even more unexpected than some millennials or older generations thought.
TikTok Life Hacks on Finances
The social media platform TikTok is a platform that easily trends 15-second or shorter or a little longer videos about an array of different things. From videos of viral dances to certain life hacks, TikTok trends have started pointing towards financial awareness.
With well over 100 million users per month in the United States alone, TikTok proves to be a never ending cycle of 15-second videos. While it is sometimes looked down by some people, before dismissing an entire generation of kids, a certain Moji Igun of Seattle actually has a pretty bold claim.
According to the story by King 5, Igun shared being ready to leave work and start a business without financial stress. It was said to be an easy switch for Igun. Igun noted that social media platforms like Instagram and TikTok introduced her to the whole world of personal finance. TikTok financial advice bite-sized content made lessons really stick.
Igun noted that she has been running her own business for a total of six months working for herself. She noted that she did not know it was possible two years ago. The #personalfinance on TikTok now has a whopping 4.2 billion views. The 26-year-old self-taught financial expert Tori Dunlap, for example, has 1.5 million followers.
Financial Coaches on TikTok
Dunlap noted that for a lot of years, the only people that were talking about personal finance were usually old, straight white men telling people the reason why they are not rich is due to them not working hard enough or buying too many lattes. Dunlap as well as her coaching service "Her first 100k" now works to help bring financial literacy to the younger generation without access to formal finance.
Every year, Ying Li, a finance professor at UW Bothell gets a brand new crop of business majors. Li stated that they are now very interested in becoming maybe one of the successful people when it comes to managing money or even dealing with their own finances but are stuck since they do not have a clue how to do it.
Li, however, pointed out the desire to learn about finance being very much alive. Short snippets like those that are circulating TikTok are now planting the seed of what could be the start of the younger generations' financial literacy journey.
The benefits of TikTok is that due to the time constraint, content creators have to get straight to the point which is very useful for those with either no time, low attention spans, or people who just prefer shorter lessons.
This article is owned by Tech Times
Written by Urian B.