How to teach others about finances

Money is often a confusing topic for many adults. While 56% of Americans say they would give themselves an A or B when measuring financial education75% say they could still benefit from getting advice and answers from a money expert. According to the National Council of Financial Educators, a lack of financial education cost the average American $1,389 in 2021. Become personal finance Influencer is something you might consider if you are knowledgeable about money and want to share what you know with others.

key takeaways

  • The majority of Americans, 75%, say they could benefit from professional advice and answers to common money questions.
  • Becoming a personal finance influencer is an opportunity to use your knowledge to teach others about money.
  • Earning a financial certification can help bolster experience and enhance credibility as a personal finance influencer.
  • Leading by example and being authentic are two of the best ways to grow a brand and customer base as a personal finance influencer.

What is a personal finance influencer?

An influencer is someone who can attract and hold the attention of a target audience and influence that audience’s behavior and habits, usually through content shared through a blog, website, or social media platforms. A personal finance influencer is someone who uses their visibility to teach others specifically about finances and good money management.

personal finance influencers they can earn money by sharing what they know. They may provide some content and information for free, but they may also generate revenue from your efforts. Some of the ways they can earn money teaching others include:

  • Monetize a YouTube channel
  • Get paid for sponsored posts or content on social media sites, like Instagram or TikTok
  • Monetize a blog with ads or sponsored posts
  • Earn commissions through affiliate marketing
  • Selling digital products, such as e-books, courses, or financial “printables” (downloadable files that can be printed)
  • Offer individual or group financial advice
  • Selling physical products, such as books, guides, and budget planners.
  • Become a brand ambassador for brands in the financial space
  • charge fees for speaking

More Americans are turning to influencers and social media for money advice. For example, 27% of Gen Z adults and millennials say Twitter has had an impact on their money decisions, while 32% said the same about Instagram. TikTok, Snapchat, Pinterest, Facebook and Reddit also attract young adults interested in expanding their financial knowledge.

It is not difficult to understand the appeal of this approach. Social media content is easy to access and digest for younger adults, who want to be able to quickly scan blog posts online. budget or watch a TikTok video that includes some helpful money-saving tips. And many personal finance influencers are in the same age range or have been through similar problems with money, making them relatable.

How to become a personal finance influencer

Teaching others about money and building an audience is not necessarily an easy process. To be successful and join the ranks of the most visible influencers, you need a devoted following. So the first step in teaching others about money is to understand who you want to help with your advice and what problems you can help them solve.

Identify your audience

The easiest way to find out who your target audience should be is to look at your own personal financial situation and background. For example, if she is a single woman in her 20s, she may want to offer financial advice geared toward other single women in their 20s. If you are a thirty-something parent of two who is focused on early retirement for you and your spouse, then you may be targeting other thirty-somethings who are interested in the FIRE movementwhich is short for “financial independence, retire early.”

The goal as an influencer is to be a solution provider. Think about the kinds of challenges you may have faced with your finances, what you’ve learned from them, and how that can translate to helping people in your target audience base.

Find your audience online

Once you know who you want to help learn about money, the next step is to find out where they are. For example, if you’re interested in helping Gen Zers or millennials, there’s a good chance you’ll find them on social media platforms looking for advice. TikTok, for example, can be a great place to share short videos with financial tips or money tricks.

Your target audience might also be interested in reading blog posts that cover financial topics on a deeper level, so it might be worth setting up a personal finance blog or website to connect with your audience.

show your authority

There are many people on the Internet who talk about money, but they are not necessarily experts. If you want to establish yourself as a personal finance influencer, you will need some credibility and authority to build your brand and following.

that could mean invest in your own financial education or obtain a professional financial certification. For example, you could become a Certified Financial Education Instructor (CFEI). This certification covers a variety of topics, including budgeting, debt, credit, and saving, and also teaches you how to educate others on those topics.

Of course, there is an investment of time and money involved in obtaining a professional financial certification. Still, it might be worth it if it allows you to build trust with your audience as you begin your journey as a personal finance influencer.

The FTC requires social media marketers and influencers to make certain disclosures to their audience, including when they are paid to mention specific brands or share links.

Create and promote your content

People looking for personal finance influencers are doing it because they want answers, so you’ll have to provide them with content that delivers those answers. Again this may include:

  • podcast
  • blog posts
  • Email newsletters
  • e-books
  • Social Media Posts
  • YouTube videos, TikTok videos, or Instagram Reels
  • Free courses, webinars or workshops
  • Live classes or evergreen

Understanding who you want to help with money can make it easier to decide what kind of content to create.

How do you teach someone about finances?

If you don’t want to become an influencer, you can still teach others about money by having regular conversations about financial topics. For example, if your parents are older, you might want to talk to them about manage money in retirement or how to protect yourself against social security scams. And if you have children, you can teach them the basics how to make a budget and create a saving habit.

What is a personal finance influencer?

A personal finance influencer is someone recognized and known for sharing financial tips and strategies, usually through social media platforms and/or a blog. They cannot have financial certifications or have previous experience working in the financial services industry. Instead, they use their own experiences with money to help guide others on how to manage their finances.

Is it legal to give financial advice on social networks?

Anyone can share financial advice on social media, but it’s important to consider the legal ramifications of doing so. Personal finance influencers often issue a disclaimer to inform their audience that any advice or recommendations shared should not be considered professional advice and that you may want to seek help from a financial advisor. They are also required to disclose affiliate relationships when recommending financial products or services.

How much do social media influencers earn?

The amount of money a personal finance influencer can earn depends on their audience, the number of followers they have, and how they choose to monetize when teaching others about money. Some can earn peanuts, while a few can earn up to six or seven figures.

The bottom line

Becoming a personal finance influencer is something you might consider if you are passionate about money and want to teach others how to master their finances. Doing your research beforehand can help you figure out who can benefit most from your financial knowledge and how to provide the type of content they’re looking for.

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