Recent estimates show that TikTok has a little over 800 million users worldwide, with the bulk of them being teenagers and young adults. TikTok appears to be slowly taking over — at least for a certain segment of the population.
What can you see on TikTok? Pretty much anything, and that may even be an understatement. While most people think of TikTok as a place to watch people perform synchronized dances to typical songs from pop culture, you can also watch people do crazy impersonations, promote their faith, or show off their family pet.
The rules of TikTok are simple. You have a short amount of time (15-60 seconds) to create almost any video you want, whether you want to lip sync to Lady Gaga or jump on your backyard trampoline. If people like your videos, you gain followers who will see your videos when they log into the app. That’s it.
Personal Finance Takes TikTok By Storm
But, TikTok isn’t just for kids, nor is all the content silly or for entertainment purposes only. Over the last year, tons of popular personal finance influencers have shown up on TikTok in order to help promote financial literacy where their followers are at.
Dr. Brad Klontz (@dr.bradklontz) is one of them. Klontz joined TikTok last summer after being introduced by his nephews and seeing how entertaining and engaging the platform could be. However, he says he saw some appalling financial information being delivered to young people by self-proclaimed “financial experts.” For example, Klontz saw people on TikTok recommending everyone get into day trading, and telling the masses that workplace 401(k) plans were bad for them.
Klontz said he felt compelled to jump in and start creating content.
“I have a passion for busting myths about the wealthy and sharing my research on the psychology and habits of wealth with people who want to improve their financial lives,” he says. “TikTok has been an excellent platform to do just that.”
Klontz says he loves the challenge of taking complex financial concepts and delivering them in an entertaining, easy to understand fashion in 15 seconds while lip syncing.
“Not only have I learned that this is possible, but I have been surprised at the impact I have been making in the lives of people on that platform,” he says. “I get messages daily from people crediting my videos with changing their financial lives. It is quite inspiring.”
Carmen Perez is another personal finance influencer who is trying to build her TikTok following (@makerealcents) with the goal of educating younger generations about money.
“I’ve found that using social media makes it easier to normalize a relatively taboo topic, money,” she says. “Using things like TikTok and Instagram allow you to appeal to a wider base that your blog may not be able to reach.”
Perez also says that social media makes it even easier to be creative and make the topic of money fun and amusing. She currently has over 40,000 followers in Instagram as well using the same handle, and she aims to post humorous and informative content.
“I like to think I offer my audience a mix of educational topics as well as just funny everyday money things.”
More Personal Finance Influencers You Should Follow
If you’re hoping to learn about money on TikTok, or if you want your kids to follow real money experts who can guide them to make responsible financial decisions, there are plenty of people to follow. Start with Carmen Perez and Dr. Brad Klontz, then check out the following influencers and their platforms:
Kimi Du (@kimi.du)
Kimi Du has a growing fan base of more than 115,000 followers, and she creates videos about psychology, persuasion, and marketing. Her videos are educational and informative but also motivational and fun. For example, she recently talked about the best apps to get through your day and how to trick your brain to do “hard things.”
Jamie Fankhauser (@jamie.biz)
With more than 17,000 followers on TikTok, Jamie Frankhauser is slowly growing her platform. Fankhauser creates content on an array of personal finance topics ranging from how to pick stocks to the easiest strategies you can use to become a millionaire.
Alex Nerney (@alex_nerney)
Alex currently has more than 55,000 followers on his TikTok account, where he shares videos about entrepreneurship and picking the perfect niche for your business. Alex is part owner of Create and Go, a business that helps others get their blogs off the ground.
Humphrey Yang (@humphreytalks)
Humphrey Yang has more than 574,000 followers on TikTok, as well as more than 6.2 million likes. Yang’s videos are mostly about business, entrepreneurship, and investing. Over the last few weeks, Yang has explained how Bitcoin works, the real cost of a Tesla
automobile, and the financial realities of buying fresh tuna vs. canned tuna.
Ryan Francis (@themoneyceo)
Ryan Francis has more than 70,000 followers on TikTok, where he shares short clips of himself talking about topics like tax fraud, target date funds, and all kinds of investing topics. Francis makes his videos easy to digest since he posts text bubbles that highlight his major talking points.
Rahul Rai (@thelaymaninvestor)
Rahul Rai has more than 150,000 follows on TikTok, where the majority of his content is actually analyzing and critiquing other TikTokers who talk about money and personal finance in what’s called a Duet. Rai shares many of his insights through facial expressions which show agreement or disdain.