Financial illiteracy can be costly. According to the National Financial Educators Council, it collectively cost Americans $352 billion in 2021 alone. Turning to personal finance influencers is one way to increase your financial knowledge. Not all are alike, so it’s worth knowing which ones are worth your time.
- Personal finance influencers share tips and strategies on how to manage money, usually via social media platforms and/or a blog or website.
- Personal finance influencers may or may not have professional certifications or money management backgrounds; some teach others about money based solely on their own experiences.
- Before following personal finance influencers, it is important to consider their qualifications and background.
- Financial advice shared by personal finance influencers should not be considered a substitute for advice from a professional financial advisor, unless the influencer is one.
What is a personal finance influencer?
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 following and follow them by sharing content through social media channels, such as TikTok, YouTube, Instagram, and Facebook. They may also have a podcast or a blog. A personal finance influencer is a social media influencer who specializes in sharing financial and money advice.
The rise of the personal finance influencer can be attributed in part to the growing use of social media to access financial advice. For example, here’s where Gen Z and Millennial investors seek financial advice, according to Morning Consult:
- Twitter (for money hacks) – 27%
Personal finance influencers can make money by sharing their financial knowledge in several 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.
The best personal finance influencers to follow
Getting financial advice online through social media can be risky, as there are always scam artists waiting to trick people into handing over their money. So, which personal finance influencers are legit and worth following? Here are 10 remarkable names to know in the field of personal finance.
Humphrey Yang, @HumphreyTalks
- Follow on TikTok, YouTube and Instagram
- Advice on investments, taxes and the basics of money
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 over seven million views, breaks down the difference between short- and long-term capital gains tax rates. .
Delyanne Barros, @DelyanneTheMoneyCoach
- Follow on Instagram, TikTok and Twitter
- Tips on—Investing
Delyanne Barros is a personal finance influencer who writes a blog called “Delyanne the Money Coach”. Formerly a lawyer, she is now a self-made millionaire, and her content focuses on teaching everyday investors how to master the stock market.
Dasha Kennedy, @TheBrokeBlackGirl
- Follow on Instagram, Facebook and Twitter
- Advice on—Debt, Wealth Building, and Financial Independence
Dasha Kennedy is a personal finance influencer and activist on a mission to help women become financially empowered. She draws on her own personal experiences with money to provide practical, helpful and realistic advice.
Nick Loper, @nloper
- Follow on Twitter and Instagram
- Advice on—Secondary activities, creation of passive income and financial independence
Nick Loper used to work a nine to five, but then he learned the secret to making money without one. He shares his top tips for creating additional income streams through side businesses and online businesses via social media, a blog called “Side Hustle Nation” and “The Side Hustle Show” podcast.
Secondary income of $600 or more from a single source must be reported as income on your annual tax return.
Tiffany Aliche, @thebudgetnista
- Follow on Instagram, Twitter, YouTube and Facebook
- Tips on—Budgeting and Money Management
Tiffany Aliche is the founder of the blog “The Budgetnista” and the 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 over a million women around the world develop their financial literacy.
Chelsea Fagan, @thefinancialdiet
- Follow on Instagram, Twitter and YouTube
- Advice on spending, saving, debt, budgeting and money management
Chelsea Fagan founded “The Financial Diet” blog in 2014 as a personal finance blog. She has since turned it into a company dedicated to helping women feel more confident when it comes to managing their finances. His Instagram account has nearly a million followers and offers lots of practical tips to improve your financial life.
Jeremy Schneider, @PersonalFinanceClub
- Follow on Instagram and TikTok
- Tips on—Investing
Jeremy Schneider offers his subscribers a crash course in the basics of investing. His approach to content is largely visual; it 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 help building a solid foundation.
Before taking the words of a personal finance influencer to heart, consider their background and authority on the topic they are discussing or offering advice on.
Daniella Flores, @iliketodabble
- Follow on Instagram, Twitter, Facebook and YouTube
- Advice on side hustle, earning money, saving money and budgeting
Daniella Flores started the “I Like to Dabble” blog in 2017 to document her experiences with various side businesses and ways to earn money on the side. She and her wife, Alexandra, were able to pay $40,000, and Daniella is now an active voice in promoting financial health and independence for members of the LGBTQ+ community.
Anthony O’Neal, @anthonyoneal
- Follow on Instagram, Twitter and YouTube
- Advice on Debt and Money Management
Anthony O’Neal is a best-selling author and speaker, and he’s also garnered a massive following on YouTube by sharing financial advice for college students. One of its main focuses is how to get out of debt so you can live your best life financially.
Anjie and RJ Muhammed, @richbyintention
- Follow on—Instagram
- Advice on managing money and building wealth as a couple
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 the goal is to build wealth. They’ve paid off over $100,000 in college debt together and are using their experiences to help other couples manage their money with less hassle.
Who are the personal finance influencers?
Personal finance influencers are people who use social media platforms and websites to offer money advice. In terms of success, they are usually gauged by their audience size and brand visibility. Some of the best influencers have audiences that number in the millions.
How do you become a personal finance influencer?
Becoming a personal finance influencer starts with identifying a target audience and understanding the issues they might need help solving. From there, you can create a content plan that meets those needs and grow your following on different social media platforms.
Are personal finance influencers legit?
Many are legit in that they rely on their own experiences or rely on their professional expertise to share financial advice. There are some, however, that lack credibility and authority, so it’s important to do your research when deciding who to follow.
Is it legal to give financial advice on social media?
Anyone can share financial advice on social media, but it’s important to understand how this can potentially create legal issues. For example, if you are an influencer who recommends a specific banking product that you are also affiliated with, you must disclose that relationship to your audience. Otherwise, you could land in hot water with the FTC.
Following personal finance influencers can be a helpful way to get money advice, but it’s important to consider the source. Many influencers specifically note that their advice should not be considered a substitute for professional financial advice. If you’re having trouble budgeting or need to know how to develop a retirement strategy, you might want to consider meeting with a licensed credit counselor or financial advisor.