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NerdWallet's Smart Money Podcast

Embrace Financial Vulnerability to Get Out of Debt: Social Media’s Impact on Financial Freedom

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2665 Ratings

🗓️ 23 May 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

Brittney Reynolds explains how sharing her finances publicly on social media helped her get out of debt and develop a new community. What are the benefits of sharing your finances publicly?  How is social media changing the way people talk about money?  Hosts Sean Pyles and Elizabeth Ayoola discuss the rise of financial transparency on social media and its impact on community building to help you understand the power of vulnerability in achieving financial freedom.  Sean speaks with Brittney Reynolds, who candidly shared her journey of getting out of debt to her audience on TikTok, where she currently has more than 90,000 followers. They discuss the trend of people publicly sharing their financial journeys on social media platforms like TikTok, with tips and tricks on reducing debt shame, fostering supportive online communities, and navigating the pressures of content creation post-debt payoff. They also discuss the sense of class solidarity that comes from such vulnerability and how the online community champions transparency and authenticity in the pursuit of managing money. In their conversation, the Nerds discuss: personal finance, social media, financial freedom, credit card debt, debt repayment, community building, financial transparency, financial journey, money management, budgeting, saving money, debt payoff, financial struggles, credit card interest, financial openness, class solidarity, online communities, digital storytelling, financial shame, managing money, debt-free, personal finances, financial exposure, brand deals, influencer marketing, savings goals, money taboos, social media influence, money secrecy, financial vulnerability, financial authenticity, and financial solidarity. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:29.7

How much money do you have in your bank account?

0:32.4

How about your credit card debt?

0:33.9

How much is there?

0:35.0

What do you have left to pay on your mortgage?

0:37.2

Would you like to tell us all

0:38.2

about it in public on camera? Without being disguised? No? Well, there are people who would, and do,

0:45.5

share their finances publicly. And today, we're going to hear from one of them. It's so nice that

0:51.3

I love seeing other people's videos about finances.

0:57.0

I love when people are like, oh, I'm going to post about my debt too.

0:58.6

Like maybe I can make something of this.

0:59.9

I'm like, yeah, like you should.

1:00.6

Like, that's awesome. I feel like it like helps so much just having that like conversation with people.

1:05.2

So it does like really reduce the shame.

...

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