Personal Finance Influencers You Should Know – Investopedia
Pamela Rodriguez is a Certified Financial Planner®, Series 7 and 66 license holder, with 10 years of experience in Financial Planning and Retirement Planning. She is the founder and CEO of Fulfilled Finances LLC, the Social Security Presenter for AARP, and the Treasurer for the Financial Planning Association of NorCal.
Financial illiteracy can be costly. According to the National Financial Educators Council, it cost Americans at least $352 billion collectively in 2021 alone. And according to the 2022 Investopedia Financial Literacy Survey, 57% U.S. adults are invested, but just one in three say they have advanced investing knowledge. Turning to personal finance influencers is one way to increase your financial knowledge. Not all are alike, so it pays to know which ones are worth your time.
A social media influencer is someone who has established credibility in a specific industry or niche and uses social media to promote themselves. They build a devoted audience and following by sharing content through social media channels such as TikTok, YouTube, Instagram, and Facebook. They may also have a podcast or blog. A personal finance influencer is a social media influencer who specializes in sharing tips about finances and money.
The rise of the personal finance influencer can be attributed in part to the growing use of social media for accessing money advice. For example, here’s where Gen Z and millennial investors look for money tips, according to Morning Consult:
Personal finance influencers can earn money by sharing their financial knowledge in a number of ways, including monetizing a YouTube channel, sharing sponsored posts, selling digital products or courses, and affiliate marketing.
The Federal Trade Commission (FTC) requires social media influencers and affiliate marketers to disclose affiliate relationships or sponsorships in which they may be paid to recommend a specific brand or product.
Getting financial advice online via social media can be dicey, as there are always scammers waiting to trick people into handing over their money. So which personal finance influencers are legitimate and worthy of a follow? Here are 10 noteworthy names to know in the personal finance space.
Humphrey Yang is a former financial advisor turned content creator and personal finance influencer. He has 2.7 million followers on TikTok, and one of his most popular videos, with more than 7 million views, breaks down the difference between short- and long-term capital gains tax rates.
Delyanne Barros is a personal finance influencer who writes a blog called Delyanne the Money Coach. Previously an attorney, she’s now a self-made millionaire, and her content focuses on teaching everyday investors how to master the stock market.
Dasha Kennedy is a personal finance influencer and activist who’s on a mission to help women become financially empowered. She leverages her own personal experiences with money to provide advice that’s practical, useful, and realistic.
Nick Loper used to work a 9-to-5 job, but then he learned the secret to making money without one. He shares his best tips for creating additional income streams through side hustles and online businesses via social media, a blog called Side Hustle Nation, and “The Side Hustle Show” podcast.
Side hustle earnings of $600 or more from a single source have to be reported as income on your annual tax return.
Tiffany Aliche is the founder of The Budgetnista blog and author of the book Get Good with Money. She also co-hosts “The Brown Ambition” podcast with Mandi Woodruff-Santos. Aliche focuses on women and money, and she has helped more than 1 million women worldwide to expand their financial know-how.
Chelsea Fagan founded The Financial Diet blog in 2014 as a personal finance blog. She has since grown it into a company dedicated to helping women feel more confident when it comes to managing their finances. Her Instagram account has close to 1 million followers and offers plenty of practical tips for improving your financial life.
Jeremy Schneider offers his followers a crash course in investing basics. His approach to content is largely visual; he explains complex investing topics with easy-to-read infographics. This could be a great place to start if you’re new to investing and need some help building a solid foundation.
Before taking a personal finance influencer’s words to heart, consider their background and authority on the topic that they’re discussing or offering advice on.
Daniella Flores started the I Like to Dabble blog in 2017 to document their experiments with various side hustles and ways of making money on the side. They and their wife, Alexandra, were able to pay off $40,000, and Daniella is now an active voice in promoting financial health and independence for members of the LGBTQ+ community.
Anthony O’Neal is a best-selling author and speaker, and he’s also garnered a sizable YouTube following by sharing financial advice for students. One of his main focuses is on how to get out of debt so that you can live your best life financially.
Anjie and RJ Muhammad are a married couple who understand how important it is to be able to manage money as a team, especially when building wealth is the goal. They’ve paid off more than $100,000 in student loan debt together and use their experiences to help other couples manage money with fewer arguments.
Personal finance influencers are people who use social media platforms and websites to offer tips about money. In terms of success, they’re typically gauged by the size of their following and the visibility of their brand. Some of the top influencers have audiences that number in the millions.
Becoming a personal finance influencer starts with identifying a target audience and understanding which problems they might need help with solving. From there, you can create a content plan that speaks to those needs and build your following across different social media platforms.
Many are legitimate in that they’re drawing on their own experiences or relying on their professional expertise to share money tips. There are, however, some who lack credibility and authority, so it’s important to do your research when deciding whom to follow.
Anyone can share financial advice on social media, but it’s important to understand how that can potentially create legal issues. For example, if you’re an influencer who recommends a specific banking product for which you are also an affiliate, you have to disclose that relationship to your audience. Otherwise, you could land in hot water with the Federal Trade Commission (FTC).
Following personal finance influencers can be a useful way to get advice about money, but it’s important to consider the source. Many influencers specifically note that their tips should not be considered a substitute for professional financial advice. If you’re struggling with how to make a budget or need some insight into how to develop a retirement strategy, you may want to consider meeting with a certified credit counselor or a financial advisor.
National Financial Educators Council. “Financial Illiteracy Cost Americans $1,389 in 2021.”
Pixlee TurnTo. “What Is a Social Media Influencer?”
Morning Consult. “Here’s Where the Youngest Generation of Investors Is Getting Their Financial Advice.”
YouTube. “Humphrey Yang.”
Fortune. “Creator 25: Humphrey Yang.”
Delyanne the Money Coach. “About Page.”
Facebook. “The Broke Black Girl.”
Twitter. “Dasha | Financial Activist.”
Twitter. “Nick Loper.”
Side Hustle Nation. “The Side Hustle Show: The Business Podcast You Can Actually Apply.”
Internal Revenue Service. “Am I Required to File a Form 1099 or Other Information Return?”
Twitter. “Tiffany Aliche.”
YouTube. “The Budgetnista.”
Facebook. “The Budgetnista.”
Twitter. “The Financial Diet.”
YouTube. “The Financial Diet.”
TikTok. “Personal Finance Club.”
Twitter. “Side Hustle Queen — Daniella.”
Facebook. “I Like to Dabble.”
YouTube. “I Like to Dabble.”
I Like to Dabble. “Home Page.”
Twitter. “Anthony ONeal.”
YouTube. “The Table with AO.”
Rich by Intention. “Home Page.”
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