From breaking down the (former) mini-budget to navigating the murky realms of crypto, and even the best apps to invest with, Financial TikTok is populated by content creators offering their advice on how to survive the cost of living crisis.
Now, he said, he can make up to four figures a month from the platform, sharing tips including; the best ways to fund a holiday using investments, advice on car finance or how to use freshers week as an entrepreneur.Advertisement
A TikTok spokesperson said:"TikTok is a place where millions of people come to be entertained, but also to learn. As more people seek financial information online, it's important to us that we help our community access the right support and advice on TikTok, especially if they may struggle to access it elsewhere.
"I do worry. On my For You Page [TikTok's personalised homepage] yesterday was a 'wealth bro' from America saying you should finance a car and invest that money instead," said Laura. "And for a lot of people, this is a real misconception. A lot of people are like, 'oh well I need a financial advisor on TikTok, to tell me what to do'."They are not allowed to."Like all social media platforms, Ellie said there is a"proliferation of scammers" out there who impersonate her account."I'm never going to sell you anything, I am never going to encourage you to trade.
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