Social media is full of financial influencers — or “finfluencers” — dispensing advice. On TikTok alone, videos tagged with #money have amassed more than 15.3 million posts.
While most Americans get their financial advice from friends, relatives or professionals, a Bankrate survey found that roughly a third of U.S. adults have turned to social media for guidance. Within Generation Z, it was nearly half.
We scanned the most popular hashtags used by money-minded TikTokers and analyzed their top videos to determine the credibility of the information being posted.
How would you rate the recommendations? Take our quiz to see if you can spot the sensible advice from the foolish.
Question 1 of 8
Use reward credit cards to save money.
Go for it!Think twice.Don’t do this.Question 2 of 8
Budget using the envelope system.
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Question 3 of 8
Buy a house for your baby.
Go for it!Think twice.Don’t do this.Question 4 of 8
You can make a good living without ever leaving home.
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Question 5 of 8
Everybody should be their own boss.
Go for it!Think twice.Don’t do this.Question 6 of 8
Everything is negotiable, from your salary to your rent.
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Question 7 of 8
Keep all your extra money in a high-yield savings account.
Go for it!Think twice.Don’t do this.Question 8 of 8
Everyone should be investing in cryptocurrency.
Go for it!Think twice.Don’t do this.You need to answer every question to see your result. You’re missing questions 1, 2, 3, 4, 5, 6, 7 and 8.
Your score: 0 out of 8
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