Turning to social media for personal finance advice might seem risky to some, but the rise of financial influencers – finfluencers – has shown that an increasing number of people prefer consuming quick and engaging content on platforms such as TikTok, YouTube and Instagram to inform their financial choices.

Finfluencing is contributing to the growth of the creator economy, which is valued at US$127.65 billion globally and projected to hit US$528.39 billion by 2030, highlighting a demand for accessible, relatable, financial education.

One study found more than 60% of US investors under the age of 35 refer to social media as a source of investment information, compared with 57% who take a more traditional approach and consult financial advisers and other experts.

This surge has prompted scrutiny from governments and regulatory bodies, including the Australian Securities and Investments Commission (ASIC), which warned in 2022 that influencers could face financial penalties of millions or imprisonment if they didn’t have a financial services licence before promoting stocks and investment funds online.

Budgeting tips, debt management, side hustles, investment, retirement planning and cryptocurrency are all on offer from nano-influencers (100–10,000 followers) with small but highly engaged audiences, through to mega-influencers (more than one million followers).

Here are six finfluencers that regularly feed their followers with bite-sized gems of financial wisdom.

@natlenno Replying to @debbinaus ♬ original sound - Natalie The Accountant

Natalie Lennon CA

TikTok: @natlenno

Followers: 22,300

Australia’s very own Queen of TikTok made a name for herself through a series of videos she posted during the COVID-19 lockdowns to help SME clients understand various government stimulus and support packages.

It grew from there and, sporting a signature pink jacket, Lennon regularly posts videos on everything from tax to tips on how to run your small business – sometimes achieving 500,000 views at a time.

@erikakullberg They don’t want you to know this about lifestyle inflation 🤯 #moneytok #personalfinance #thankserika ♬ original sound - Money Lawyer Erika

Erika Kullberg

TikTok: @erikakullberg

Followers: 9.1 million

One of TikTok’s most popular financial content providers, US-based Erika Kullberg has nine million followers on that platform alone (and more than 21 million across all platforms) – dispensing insights on Facebook, Instagram and YouTube under the tagline, “I read the fine print so you don’t have to.”

Born from her own success in paying off her US$200,000 student debt in under two years, Kullberg has a devoted following that tunes in to find out how they can live debt-free and create their own wealth.

@marktilbury Hater vs Millionaire (travel edition) #money #millionaire #hater #rich ♬ original sound - Mark Tilbury

Mark Tilbury

TikTok: @marktilbury

Followers: 7.3 million

British self-made millionaire Mark Tilbury shares advice and commentary via YouTube, TikTok and Instagram on how to invest, save and negotiate, to assist his followers on the path to becoming a millionaire. Tilbury is not too far behind Kullberg in terms of TikTok followers, who connect with his explanations on the magic of reinvested dividends and compound interest.

@humphreytalks

If you’re in your 20s and want to be rich in your 30s watch THIS

♬ original sound - Humphrey Yang

Humphrey Yang

TikTok: @humphreytalks

Followers: 3.3 million

Humphrey Yang, an ex-investment banker based in California, shares his take on personal finance, money and investing in simple terms on an assortment of social platforms. Creating headlines like How to Go From $0 to $100,000+ in 2024 and The Number 1 Wealth Killer No One Talks About, Yang is all about helping people make money and avoid poor investments.

@investwithqueenie What’s your best investment? I asked some of my favourite Melbourne friends what their best investments were and I love the variety 🥹 I think it really shows its great to diversify your investments 🙌 What’s your best investment? Let me know! Thanks for being in this video @@tashinvests @Noah @New Money @rask.invest 🥳 #bestinvestment #tesla #apartment #home ♬ Roxanne - Instrumental - Califa Azul

Queenie Tan

TikTok: @investwithqueenie

Followers: 227,400

Sydney-based Queenie Tan is a personal finance content creator on a mission to help people understand their own financial position. As her website says: “Whether it be helping you save $10 off your grocery bill or giving you the tools to help you buy your first home. My mission is to help you on your financial journey.”

You can find her on Instagram, YouTube and TikTok, where she posts videos on topics ranging from budgeting and bank accounts to how to help your kids start investing.

@financielle #creatorsearchinsights 5 step guide to clear your debt✨#debtfree #debtpayoff #howtopayoffdebt ♬ original sound - Money glow up app✨💸

Financielle

TikTok: @financielle

Followers: 114,000

Financielle, a UK-based financial wellness platform founded by sisters Holly Holland and Laura Pomfret, focuses on empowering women about finance. Alongside video content on social platforms, their app provides both free resources and a premium subscription for enhanced features such as personalised financial tracking.

Finfluencers: here to stay

Making a short video on a subject that is familiar territory for the creator may have started as a hobby, but with some Instagram and TikTok videos now being seen by millions of people, it’s clear these finfluencers’ take on financial wellness has hit a chord with many people keen to take control of their money, get rid of debt and build strong financial foundations.

And who knows? Perhaps you could be the next finfluencer to capture an audience and help improve people’s financial literacy!