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NEW YORK — In an era where financial wisdom is just a scroll away, TikTok has emerged as an unexpected classroom for money management. A new survey reveals that social media users are gaining substantial financial knowledge through “FinTok” — and they’re not just watching dance challenges.
The eye-opening study, conducted by Talker Research on behalf of banking app Chime, uncovered that Americans collected an average of 42 pieces of financial knowledge from TikTok in 2024, with younger generations leading the charge. Gen Z tops the chart, absorbing an impressive 49 pieces of financial advice, compared to 44 for millennials and just 32 for baby boomers.
Gone are the days when financial guidance was limited to family dinner conversations. While 47% previously relied on family members and 40% on friends for financial advice, today’s digital natives are turning to social platforms for help with money issues. A remarkable 50% now believe FinTok offers superior advice compared to traditional platforms.
The most intriguing trends of 2024 include “side hustling” (38%), “pay off debt” strategies (25%), and explorations into “passive income” (25%) and “crypto investing” (20%). Despite an average trend adherence of just four weeks, Americans found 44% of these financial trends successful.
“It’s clear that while trust levels are still growing when it comes to FinTok, many are embracing and integrating it into their everyday lives,” says Janelle Sallenave, Chief Spending Officer at Chime, in a statement.
The platform isn’t just a passing fad — 65% of users feel more financially secure, and 68% report improved home financial situations.
Interestingly, while Gen Z is often stereotyped as the “TikTok Generation,” only 15% have never met a financial advisor in person, compared to 27% of baby boomers. The most searched financial topics include budgeting (25%), investing (24%), and credit scores (22%).
Perhaps most surprisingly, 76% of users are open about using FinTok for financial planning, with millennials leading the transparency at 36% being “very open” about their digital financial education.
As Sallenave puts it, “The digital age is here and it’s here to stay.” With 53% planning to use FinTok more in 2025, it seems financial education has found its new frontier — one short video at a time.
“Social media has claimed its stake in American culture and society. What was once just chatrooms and a bunch of selfies has now become a wealth of knowledge for every type of person,” adds Rianka R. Dorsainvil, Chime’s Consumer Certified Financial Planner. “FinTok is the perfect example of how social media has evolved in a rather short period of time, and it’s a great opportunity to both learn new things and expand your current knowledge.”
Survey methodology
Talker Research surveyed 2,000 Americans who use FinTok split evenly by generation (500 Gen Z, 500 millennials, 500 Gen X and 500 baby boomers); the survey was commissioned by Chime and administered and conducted online by Talker Research between Nov. 1 and Nov. 6, 2024.
