Author: Victoria Vesovski

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.

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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.

As Trump’s trade policies continue to send shockwaves through the economy — creating fears of rising prices, layoffs and a potential recession — investors are bracing for impact. With markets in flux and uncertainty in the air, financial anxiety is mounting.

While no one can control the stock market, The Washington Post’s personal finance columnist Michelle Singletary says there’s one thing people can take charge of: their spending. But according to new data, Generation Z isn’t exactly slamming the brakes.

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In fact, 40% of Gen Zers plan to spend more on non-essential purchases in 2025 compared to last year, according to Northwestern Mutual’s latest Planning & Progress Study — earning the title “Spend Z.” Their intention to spend outpaces every other generation and persists despite credit card bills (22%) and personal education loans (16%) being their main sources of outstanding debt.

While many in this position might choose to cut back on non-essential spending, Gen Z as a whole doesn’t seem to want to make any sacrifices. On a recent episode of the Post Reports podcast, Singletary didn’t mince words when offering advice to young adults navigating these choppy waters: “You have to put your adult hat on and say, ‘You know what? I wish I could eat out, but I can’t.’”

That may be easier said than done in an age where Uber Eats orders and late-night Shein scrolls feel like self-care rituals. But experts warn that trading savings for short-term splurges could leave young consumers vulnerable — especially with the economy on shaky ground.

Time to take a second look

There’s a good chance you may have found yourself uttering the phrase, “I really shouldn’t be spending this much” — mid trip to the mall with an oat milk latte in hand. But despite headlines warning of an economic slowdown and the not-so-soft whisper of a recession, a growing number of young adults are choosing indulgences over budgets.

According to a 2023 Morning Consult report, Gen Zers and millennials are spending more than $400 a month on non-essential purchases like travel, recreation and dining out. That’s significantly higher than the $250 Gen Xers spend and double the nearly $200 boomer benchmark.

The economy as a whole is still banking on consumer resilience. The National Retail Federation projects 2025 retail sales will hit $5.42 trillion, perhaps driven in part by younger generations keeping their wallets open, even as their savings shrink.

While the impact of economic uncertainty may not yet be visible in your day-to-day life, it’s likely on the horizon. And when it arrives, you’ll want more than just a closet full of trending accessories. A well-padded emergency fund will offer the kind of value fast fashion can’t.

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Finding the balance

Prioritizing wants over needs during economic uncertainty can leave young consumers vulnerable to debt, with little to fall back on when the unexpected hits. “Now that you’re a young adult, you’ve got bills to pay. You have to save for retirement. You have to save for an emergency fund. Maybe you’ve got young children yourselves,” Singletary said on the podcast.

You can start by building a budget. Not just a mental tally of your spending — but a written, trackable plan that accounts for fixed expenses, savings goals and the real cost of lifestyle choices. Even small changes can have a lasting impact. For example, swapping food delivery for planned grocery runs can save hundreds each month while teaching discipline in spending.

Next, it would be a good idea to create an emergency fund. You could aim to save up three to six months’ worth of your essential expenses and make each contribution non-negotiable, like rent. This cushion can help cover job loss, medical bills or even the inevitable life hiccup — all without reaching for a credit card.

Aside from an emergency fund, you could also start contributing to a retirement account — whether it’s a Roth IRA or 401(k). Putting even a small amount away now allows compound interest to do the heavy lifting long term.

And if you’re still craving that big splurge, you can budget for it by setting aside a small amount regularly and make it a conscious reward — not a spontaneous swipe.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

You might recognize her as @TheBudgetnista on TikTok, sharing money wisdom with warmth and wit. But Tiffany Aliche’s impact goes far beyond viral videos. Before the books, the interviews and the online following, she was on the ground teaching women, particularly women of color, how to navigate financial systems not built with them in mind.

“You have to own something,” she recently told Glamour Magazine. That might mean owning a business, buying into an index fund or simply taking ownership of your financial boundaries. Her latest book, Get Good With Money Challenge, offers readers a step-by-step roadmap to building wealth with intention — not just adjusting your budget, but shifting your mindset.

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And Aliche isn’t handing out hypothetical advice. She lived it. Years ago, she found herself buried under more than $300,000 in debt. Her journey back to stability wasn’t just about paying down numbers on a spreadsheet. It started with a much harder task: creating boundaries.

Boundaries before budgets

Aliche’s financial transformation started with a boundary. After losing her husband in 2021, she found herself saying yes to everyone and everything. But as she began to rebuild her life, she learned the value of saying no — not just to others, but to financial patterns and mindsets that no longer served her.

“When you’ve grown up in survival mode, especially in communities where poverty is generational, it is hard to emotionally accept that you are no longer broke,” Aliche said.

At her lowest point, Aliche was grappling with student loans, credit card debt and a mortgage she couldn’t afford. Then came a recession, a layoff and a slow-motion collapse that left her bouncing between her childhood bedroom, her sister’s couch and eventually a rented room. Her finances weren’t just strained; her identity was in crisis.

And while much of her people-pleasing was shaped by her upbringing, research suggests these behaviors may run even deeper. A University of Michigan study found that children as young as five show emotional reactions to spending and saving that influence their real-life financial choices — reactions that aren’t always modeled by their parents. In other words, your relationship with money might not just be inherited, it might be instinctual. But that doesn’t mean it can’t be reprogrammed.

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Build your way up

Aliche didn’t let rock bottom be her final chapter. Through financial therapy, she started unpacking the emotional baggage attached to her spending and saving habits. By identifying the patterns that no longer served her, she began replacing shame with strategy.

One of the best pieces of advice she received was simple but powerful: “Keep your overhead low” and “live within your means.” That mindset became her launchpad — allowing her to save, invest and rebuild with purpose.

She also emphasizes that you don’t need to have all the answers to make smart choices. “Financial literacy starts with curiosity, not perfection,” says Aliche. The biggest mistake you can make is not asking questions when the stakes are still small. Sometimes the most expensive thing isn’t what’s on your credit card — it’s the lesson you didn’t learn in time.

If you’re feeling stuck on where to begin your financial journey, working with a financial advisor might be a smart first move. An advisor can help you set clear goals, steer you away from common money mistakes and spot areas in your spending that could use a tune-up. Think of financial literacy less like a one-and-done class and more like a lifelong playlist that evolves with market swings, investment trends and your own goals. Having a professional in your corner can not only save you from costly missteps but also boost your confidence when it’s time to make a big financial decision.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

The federal government has already frozen $400 million in funding to Columbia University as part of a campaign targeting elite academic institutions. Now, the Trump administration is setting its sights on Harvard.

After the university recently rejected a series of demands from the Trump administration — arguing they would effectively hand control of the school over to a conservative government — federal officials announced they were freezing $2.3 billion in funding to Harvard.

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Shortly after the frozen funds were announced, Trump doubled down on his threats, stating that he’s considering revoking Harvard’s tax-exempt status. On April 21, Harvard filed a lawsuit against the Trump administration as the school ramps up its fight over frozen funding, institutional oversight and basic independence.

The lawsuit comes as the Trump administration continues to scrutinize Harvard’s $9 billion in federal contracts and grants, part of the administration’s broader campaign to address the antisemitism that it believes was prevalent on college campuses during pro-Palestinian protests over the past 18 months.

In a joint statement, the Departments of Education, Health and Human Services and the U.S. General Services Administration said they are reviewing $255.6 million in contracts between the federal government, Harvard and its affiliates — along with $8.7 billion in long-term grant commitments.

"If this funding is stopped, it will halt life-saving research and imperil important scientific research and innovation," said Alan Garber, President of Harvard University, in a written statement.

As the federal crackdown intensifies, it could fundamentally alter the way universities function — affecting how research funding is distributed and creating new barriers for students pursuing higher education.

What’s really going on?

On April 3, the U.S. Department of Education placed Harvard University under administrative review, signaling heightened federal scrutiny over the institution’s core operations.

The review includes several preconditions the Trump administration believes are “necessary for Harvard University’s continued financial relationship with the United States government.” These demands include oversight of hiring practices, admissions, student discipline, governance and academic leadership.

In response, a number of Harvard faculty members expressed concern over the administration’s move, framing it as a challenge to institutional autonomy.

Some argue that Harvard, with its $53.2 billion endowment — the largest of any university in the world — is financially well-positioned to withstand potential federal funding cuts. Approximately 20% of the endowment is unrestricted, giving the university discretion over nearly $10 billion in funds.

In a recent statement, Garber emphasized the university’s commitment to its mission and academic freedom, stating, “We resolve to take the measures that will move Harvard and its vital mission forward while protecting our community and its academic freedom.”

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What does this mean for students?

Dr. Ezekiel Emanuel, Vice Provost for Global Initiatives at the University of Pennsylvania, emphasizes that these cuts could hinder scientific research and local economies. He notes that major advancements since 2000, such as mRNA vaccines and GLP-1 anti-obesity drugs, originated from university labs. Reduced funding may limit students’ opportunities to engage in this sort of groundbreaking research.

The consequences are also being felt by international students. Deportation proceedings have begun for some international students who were detained after participating in pro-Palestinian demonstrations. Additionally, visas for several hundred foreign students have been canceled, a development that may affect future enrollment figures.

In a public letter, Garber argued the Trump administration’s demands extend well beyond combating antisemitism, calling them an attempt to regulate the “intellectual conditions” of higher education.

“No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue,” Garber wrote.

For students, the financial toll may prove to be the most immediate concern. With reduced federal support, students could face greater reliance on private loans to meet rising tuition costs — widening the access gap and placing higher education further out of reach for low-income students.

Uncertainty about the future of funding has led some universities to accept fewer graduate students, narrowing many pathways to advanced degrees and research opportunities. Many graduate students depend on federal research grants for scholarships and stipends, and funding cuts can directly impact their academic and professional trajectories.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Jason Stanley, a Yale philosophy professor and author of How Fascism Works: The Politics of Us and Them, is leaving the United States to take up a teaching position at the University of Toronto — a decision he said is driven entirely by the political climate under the Trump administration.

The federal government is in a funding fight with elite institutions like Yale and Columbia as part of its so-called security reforms. On April 21, Harvard Univesity sued the Trump administration over a $2.2 billion funding "freeze order" it wants a federal judge to declare as unconstitutional.

While Stanley was critical of Yale’s handling of his academic freedom, he claims Columbia has gone a step further — capitulating to political pressure from the White House by forcing out faculty, tightening protest rules, increasing campus policing and reorganizing departments such as Middle East studies.

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“It has nothing to do with me.” Stanley told MSNBC. “It has everything to do with my children, and my desire to send a warning to Americans.”

Stanley may be uprooting his life with a new job waiting across the border — but for many Americans, the move is far more complicated than booking a one-way ticket.

Moving up north

Back in 2016, when Donald Trump was first elected, countless Americans — celebrities Amy Schumer and Snoop Dogg included — threatened to head north. But few actually did. Despite the shared border, Canadian immigration lawyer Ryan Rosenberg says the move isn’t nearly as simple as it sounds.

“‘What do you mean I can’t move to Canada next week?’” is the reaction clients typically have about Canadian immigration requirements, he told CBC News.

Rosenberg, managing partner at Larlee Rosenberg in Vancouver, launched a cheeky website last year called Trumpugees.ca, with the slogan: "Tired of Trump? Thinking about Canada? We can help."

But according to him, fewer than 5% of inquiries ever turn into a formal application — mostly because one key requirement stops Americans in their tracks: without a job offer, they can’t just pack up and go.

And now, Americans looking to flee a volatile political climate are facing another hurdle: a federal government in Ottawa that’s actively trying to curb immigration. Ottawa-based immigration lawyer Betsy Kane says that unless applicants speak French or have in-demand skills, their options are slim.

“For somebody living in the States who wants to look at opportunities in Canada, it’s pretty difficult right now and you really need to have a job offer in a specific field," Kane told CBC News.

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Friendly neighbors

Even if you manage to cross the border, settling into life in Canada isn’t all smooth sailing — especially when it comes to retirement planning.

According to a BMO survey, Canadians believe they’ll need around $1.7 million to retire comfortably. That figure is similar to American expectations — but the weaker Canadian dollar complicates things.

With the exchange rate sitting at 1.38 CAD to 1 USD, saving and spending in Canada could shrink the value of your nest egg over time.

And if you decide to return to the U.S. down the line, your Canadian savings might not go as far as you’d hoped. Currency fluctuations also affect day-to-day spending. From groceries to gas, price tags can feel unexpectedly steep if you’re not accounting for the exchange rate.

Health care is another major consideration. While Canada’s universal system is often praised, newcomers don’t get access right away. Some provinces have a waiting period of up to three months before public coverage kicks in — and during that time, you’ll need private insurance. Even with coverage, services like dental, vision and prescriptions often come with extra out-of-pocket costs.

So, while Canada may seem like a safe haven, the reality is far more complex — and costly — than many Americans expect.

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• There’s a 60% chance of a recession hitting the American economy this year — protect your retirement savings with these essential money moves ASAP (most of which you can complete in just minutes)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.