There are many routes individuals use to access financial advice, with some less credible than others. The internet and social media platforms are both quick ways to access advice. However, the downside is anyone can publish financial advice leading to the spread of misinformation.
After growing up in a digital age society, Generation Z seems to have an innate reliance on social media, which poses the question – does it leave them vulnerable to financial exploitation?
Moneyzine.com decided to investigate the differences in accruing financial advice among generations.
- 27% of Gen Z get financial advice from social media, higher than any other generation.
- 31% of 18-40 year olds describe themselves as ‘fully confident and informed’ when it comes to investing, in contrast to just 16% of 57-75 year olds.
- One in four people who lost money to fraud in 2021 reported that this started on social media.
- The number of under-20s falling victim to online identity theft has increased by 156% from 2017 to 2020.
Luke Eales, CEO of Moneyzine.com, commented:
“It’s clear that younger generations are changing how they access financial information compared to older generations. However, what we may need to consider is that social media provides an instant gateway to thousands of sources – both reputable and questionable. Rather than questioning the credibility of social media as a whole, perhaps more pertinent is whose content Gen Z is consuming on these platforms. What remains to be seen is how the increased reliance on social media and instant-access platforms for financial advice will benefit – or hinder – younger generations during this current financial crisis.”
16 of the Best Financial Podcasts To Learn About Money
According to a survey conducted by PodcastHosting.org, there are over 2,000,000 podcasts and 48 million episodes as of August 2021. While not all of these are financial podcasts, suffice it to say there are thousands of podcasts dedicated to managing your money, and more are being launched every day.
Rather than sending you to Google to find personal finance podcasts on your own, we’ve already done the heavy lifting so you can spend less time searching and more time listening. Following countless hours scouring the internet, researching finance podcasts across popular platforms, and asking podcast hosts to share their favorite podcasts, this article will help you discover podcasts that will be music to your ears (and your wallet!).
The Best Frugal Mom Blogs To Help You Save Money
As you know, I am all about frugal living, and some of you may be too! As a mother, I like hearing advice, tidbits, tips, and hacks from other moms. It is important to access voices similar to you and to whom you can relate.
These moms all talk about money, personal finance, financial independence, and, of course, being frugal.
34 Best Money Books for Teens and Young Adults
Learning about all money topics: budgeting, saving, working, investing, retirement, and much more begins at a young age. When kids are young, it is important to introduce them to money: how it works and what it is for. As kids grow older and become teenagers and young adults, it can be time to teach them more of the nitty-gritty of money.
Are you going to change a teenager’s financial future today? If the answer is a resounding yes! (and it better be!) check out this list of Financial Literacy Books to Help your Teen Start Off Right!
What Beginning Investment Book To Pick?
For young investors, beginning investing can seem like a daunting task. There are so many different investment books to choose from, all of which claim to be the best for beginning investors. This article explores 15 of these top beginner investment books and helps you decide which beginning investment book to pick.