Tiktok is not just to show your dance movements. Tiktok’s financial users have gained 42 financial knowledge from the platform by 2024, according to new research.
The survey surveyed 2,000 North -Americans who use Fintok, Tiktok’s financial side, were evenly divided by generation.
According to the results, younger generations are taking advantage of what is available to it, as GEN Z obtained an average of 49 financial councils, information or knowledge; While the millennials won 44, while Baby Boomers surpassed with an average of 32 pieces.
Prior to Fintok’s existence, respondents normally received their financial council from family members (47%) or friends (40%).
However, then the North -Americans were more likely to go to other social networking sites for information (40%) than on financial websites or blog publications (37%).
More than a quarter of the Z -gene (27%) even learned about finance at school or an educational environment, almost four times more than Gen X or Baby Boomers (both 8%).
Given all the different sources, 50% today believe that the information he obtains in Fintok is better than other platforms they have used.
Directed by Talker Research on behalf of Banking App Chime, the survey sought to discover how North -Americans use Tiktok, and specifically, to strengthen their money and explore popular tendencies in 2024.
By 2024, Fintok users experimented with “Side Hustling” (38%) and tested the “payment payment trend” (25%).
Others sought modern concepts and trends such as “passive income” (25%), “Crypt investment” (20%) and “cash filled” (17%).
The “without spending” (20%) and “100 methods of envelope” (16%) also were in the radars of the respondents this year.
Typically, North -Americans adhere to a new trend for an average of four weeks, and from Fintok trends proven in 2024, the North -Americans found an average of 44% to be successful.
“Success” does not define when seeing benefits (46%), but also learning something new (36%) or being more confident in their financial capacity (33%).
Despite a 50% success rate in specific trends, almost two thirds of all respondents (65%) feel more economically secure since the use of Fintok.
Another 68% even admit that it has improved its financial situation at home; That is why 53% plan to use Fintek more by 2025 than they did in 2024.
“Budget/Savings” (25%), “Invest” (24%), “Credit/Credit Scores” (22%), “Inflation” (20%) and “cash flow” (19%) were the most searched terms in Fintok this year.
Although Gen Z was known as the “Tiktok generation”, the results found that only 15% of the ZERs have never met with a financial advisor or a banking worker in person, compared to 27% of the baby boomers.
“ It is clear that while the confidence levels continue to grow when it comes to Fintok, many are adopting it and integrating it in their daily lives. The results found that the respondents will use Fintek to get out of debt (37%), start a business (19%), or even to submit their taxes (16%), ” said Janelle Sallenave, Chimian spending officer. “The digital age is here and it is here to stay.”
Almost a third (32%) admit that they are embarrassed to ask their loved ones, but another 48% think they have more financial knowledge than other people in their lives.
In fact, 76% are open with their friends and family to use Fintek for financial planning. Interestingly, millennials are the most open generation, as 36% are “very open” about their use of Fintok, compared to only 24% of Baby Boomers.
Fintek or otherwise, 44% of the North -Americans agree that those who are not on social networks are performed by a single service, not only economically, but culturally.
“Social networks have called for their participation in North -American culture and society. What was formerly Chat Rooms and a lot of selfies have become a large amount of knowledge for each type of person,” said Rianka R. Dorsainvil, a financial planner certified for Chime consumer. “Fintok is the perfect example of how social networks have evolved in a fairly short period of time, and it is a great opportunity to learn new things and expand your current knowledge.”
Survey Methodology:
Talker Research surveyed 2,000 north -Americans who use Fintok Split evenly by generation (500 gene Z, 500 millennials, 500 gene X and 500 baby boomers); The survey was commissioned by Chime and was administered and made online by Talker Research between November 1 and November 6, 2024.
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