The new frontier for financial advice: TikTok.
Cole Kelley’s most popular TikTok post wasn’t the one in which he did a walking handstand across his high-school hallway.
“It gets kids thinking,” Kelley said of the posts under his username, @mrcolekelley. “It gets them wanting to learn.” Elsewhere on the app, people are doing synchronized treadmill dances, cats are freaking out over squirrels and brawny actor Terry Crews is flexing his chest. Here, people are checking out videos on coupons, compound interest, home budgets and debt — which might reflect the fact they’re not getting the information elsewhere.
Don’t bet on the app morphing into a place where people just want to talk about finance. But money-related hashtags get eyeballs: #couponing has almost 50 million views, #invest has nearly 30 million views and #personalfinance has over 12 million views. Pelletier doesn’t have a TikTok account, but his high school-sophomore son does. The teen recently asked his parents to reward him with $100 if he could make a video go viral, thinking he’d struck gold with footage of himself coming off laughing gas after a wisdom tooth extraction.‘No shame in my coupon game’ There was a time when Swanson, the extreme couponer in Wisconsin, threw out coupons and overspent without a second thought.
“So I think, maybe I got something,” said Swanson, who said she tries to post one video daily. “And it has just blown up.” Greg Justice, head of content ops at TikTok, said the app’s “mission is to inspire joy and creativity.” “We’re excited to see how users like @Coupon_Katie are sharing their tips and teaching a new generation how to save,” he said.
A 10-second video of a Roth IRA calculator In San Diego, 25-year-old entrepreneur Zach Zorn saw TikTok’s potential when a friend’s video about jet skiers suddenly garnered 1 million views. “It was apparent TikTok’s algorithm was pushing new creators,” he said. He also posted another video about using credit cards wisely to build up a credit score without incurring debt. TikTok took down the video and didn’t explain its reasoning, he said. A TikTok spokeswoman told MarketWatch the video violated the app’s spam policy but declined to elaborate.
Too much online content — on TikTok and elsewhere — makes it sound like people can become rich practically overnight when, in reality, it takes a lot more work, Zorn said. “I think there’s a lot of scamming-type content online, and I want to be the opposite of that.” See also: This is the most innovative financial literacy program in the U.S. — it gives students paychecks and helps them open bank accounts
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why you should watch the most boring videos on TikTokThe video-sharing app TikTok is full of silly lip-synch videos, but it also has several accounts devoted to money and budgeting tips.
Read more »
TikTok Settles Child Privacy Class-Action Suit for $1.1 MillionJust days after TikTok was hit with a class-action lawsuit over alleged child-privacy violations, the video-sharing service has reached an all-cash $1.1 million settlement in the case, according to a motion filed Thursday (Dec. 5) in U.S. District Court.
Read more »
Sam Smith Just Discovered TikTok & They're Throwing a Dance Party to CelebrateSince its emergence in 2017, TikTok has grown to become one of the most popular social media apps of 2019. While the platform has already become a meme-generating platform where small artists can suddenly rocket to superstardom, it appears that pop star Sam Smith has only just come around to it.
Read more »
Ariana Grande Reached Out to Her TikTok Lookalike: What She Told HerET sat down with the Tik Tok star to talk about her transformation into Grande.
Read more »
Here's What Ariana Grande Said to Her TikTok ImpersonatorAriana Grande has a TikTok impersonator who looks so much like her it's wild. Her name is Paige Niemann, she is 15, and she has has a following of 2 million on TikTok. But her biggest fan might be the singer herself.
Read more »