Influencers are no longer just shaping Americans’ shopping habits and fashion choices — they’re also playing a role in how people manage their money. And one type of influencer has become particularly popular: the “finfluencer.”
Short for "financial influencer," these creators break down complicated topics like investing, budgeting and wealth-building in everyday language — offering advice that feels a lot more like a chat with a friend than a seminar you have to sit through with a stale coffee in hand. They don’t just share textbook tips; they share their mistakes, their wins and their full financial roller coasters.
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“Trump lit the match and burned the house down, then handed you the fire extinguisher,” Tori Dunlap, a 30-year-old financial influencer, shared with her 2.4 million TikTok followers, capturing the sense of chaos many feel as they navigate today’s markets.
While it’s never been easier to swipe through financial advice, relying solely on social media for money decisions can come with real risks. Unlike certified financial planners, finfluencers aren’t held to a fiduciary standard — and their advice, however relatable, isn’t always backed by professional expertise.
The comfort and the catch
For Americans who feel overwhelmed by traditional financial institutions — especially as budgets get tighter — following relatable voices online can be an easy first step toward building better money habits.
One finfluencer of note is Jeremy Schneider, known as @personalfinanceclub on Instagram. In early April, he posted about losing a quarter-million dollars in just two days after Trump’s tariff policies rattled the markets. Instead of pretending everything was fine, he got candid — showing his followers that volatility isn’t a reason to panic, it’s a reason to stay the course.
“I wanted to put my face on my page so that people knew I’m still here, the sky’s not falling,” he told the Wall Street Journal.
Hearing about these lived experiences online doesn’t just feel more authentic — it’s also cheaper. Traditional financial advisors often come with hefty hourly rates or ongoing retainer fees. In a time when cutting back is the norm, paying for professional advice can feel like a luxury that some can’t afford.
Nearly one in three U.S. adults (30%) sought financial advice online in 2023, according to a recent financial survey. Younger Americans were even more likely to look to social platforms, but relying on these informal channels also comes with significant risks.
Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
Avoiding costly mistakes
Finfluencers have made money talk feel less intimidating, but when it comes to big financial decisions, sometimes you need more than a viral post. Certified financial planners are trained to create strategies that actually fit your goals, your risk tolerance and where you are in life — not just whatever’s trending on your For You page.
Trusting a finfluencer is more common — and riskier — than you might think. According to a Credit Karma survey, 40% of Gen Z and 30% of millennials say they’ve made questionable money moves after acting on advice they found online. In fact, 37% of Gen Z and 25% of millennials ended up in real trouble — like getting hit with an IRS audit — after taking that advice.
A professional financial advisor can help you build a comprehensive plan that considers factors like taxes, insurance, retirement savings and investment diversification. They’re also legally bound by a fiduciary duty, meaning they’re required to act in your best financial interest instead of just suggesting what worked for them personally.
Instead of reacting emotionally to short-term swings, a good advisor can help you stay focused on the bigger picture and avoid mistakes that could cost you in the long run. While professional advice often comes with a fee, it can end up saving — or making — you more money over time.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
