After exploding on the social media scene in 2016, TikTok has now exceeded 2 billion downloads and is seen as one of the fastest-growing social platforms among younger users.
With 41per cent of TikTok users being between the ages of 16 to 24, TikTok gives a glimpse into what the future holds for content creation and consumption.
While the majority of TikTok videos centre around dancing, lip-syncing, comedy and hashtag challenges, there are finance-focused TikTok channels that are carving out a niche on the platform.
As of writing, posts under #finance had 321.8 million views while #personalfinance had 162.4 million views. In videos of length 60 seconds or less, TikTok’s constraints provide a unique challenge for finance content creators to reach out to a whole new generation.
To get you started, here are 5 TikTok accounts you can check out and follow to learn more about investing, insurance and personal finance in general.
#1 @MrColeKelleyPHOTO: TikTok
By day, Cole Kelley teaches finance and money matters to high school students. However, he also has a “class” of 22.5K students on TikTok, where he shares about a wide variety of topics, from career advice to education grants, and investments to savings accounts.
Whether you’re a student or lifelong learner, there’re many valuable lessons you can learn from Mr Cole Kelley.
With just under half a million followers and over 4 million likes, you can follow Humphrey Yang to enjoy a video every day on personal finance, tips on how to invest, money-saving hacks and financial freedom.
If Humphrey Yang sounds familiar to you, he was most well-known for his viral video where he used grains of rice to illustrate just how rich Jeff Bezos is, which garnered 6.2 million views on Twitter and 2.1 million views on TikTok.
LogicalFinance is a TikTok account where Dustin, a financial analyst, educates and explains concepts about investing and building wealth.
Breaking down concepts such as collateral or discount rates, as well as explaining economic basics, Logical Finances helps you to learn more about money and the wider economy.
A professor in Psychology, Dr Brad Klontz’s work has been featured in publications such as the New York Times and the Wall Street Journal.
On TikTok , he aims to inspire people to acquire concepts and change their mindsets so they can start growing their wealth and be successful financially.
Sharing on topics like marketing and personal finance, Kimi both gives recommendations on what to read, watch or use, as well as tips on productivity and personal Finance.
Aimed at young people, the resources and tips that she shares with her followers help young people to understand their finances better.
New ways to learn finance for a new generation
How we learn personal finance topics has evolved with the times. From solely books and classroom instruction just a decade ago, we now have webinars, web articles, infographics, and even interactive applications to help us make better financial decisions.PHOTO: TikTok
This article was first published in Dollars and Sense.