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Maximilian Brichta, Postdoctoral Research Associate, University of Virginia

How personal finance advice is getting political, thanks to ‘finfluencers’

Young people increasingly get their financial advice from social media -- and it's taking a political turn. Jaap Arriens/NurPhoto via Getty Images

Once seen as often dry and sometimes intimidating, personal finance advice is a far cry from what it was in your grandparents’ day.

It’s not just the array of new online tools, from banking apps to exotic new investing options, such as cryptocurrency. Social media has created a platform for “finfluencers” – nonprofessional personal finance influencers who have become an increasingly common source of advice for young people, whether it’s accurate or not.

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