Meet the 'Finfluencers'
Business Daily
BBC
4.4 • 796 Ratings
🗓️ 25 September 2023
⏱️ 17 minutes
🧾️ Download transcript
Summary
Where do you go to get financial advice? More and more people are turning to Instagram, YouTube and TikTok for money matters. David Harper meets the ‘Finfluencers’ – financial influencers entertaining and educating young people around the world, and bringing in big numbers in the process. Caleb Hammer is a YouTuber with over 600,000 subscribers who conducts financial audits on the forensic financial details of individuals in the hope of helping them to budget better.
He also speaks to Hannah Rimm and Alexandra Koster, who run the Money Diaries feature at online magazine Refinery 29. They are deluged with submissions every week.
And we hear from Sharan Hegde, from Bangalore in India. He has over 4 million subscribers on Instagram and YouTube combined.
Presenter: David Harper Producer: Victoria Hastings
Transcript
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| 0:00.0 | You've heard of influencers. It's time now to meet the new wave of Finfluences, financial influences. |
| 0:05.9 | How do I make sure that I'm spending less than I make? It leads to margins, so you actually |
| 0:10.1 | do have money to invest. Investing all of your savings into a passively managed index funds. |
| 0:15.1 | It might seem unbelievable to the boomer and millennial generations, but YouTube, TikTok and other |
| 0:19.4 | online platforms are now carrying a |
| 0:21.5 | smorgasbord of videos on personal finance, and they are pulling in big numbers. |
| 0:26.7 | I'm David Harper, and for Business Daily on the BBC World Service, I'm finding out how |
| 0:30.3 | money management is turning out to be irresistible entertainment for Gen Z. |
| 0:36.1 | Now, much as I hate to admit this, |
| 0:38.3 | I'm not nearly young enough to be in the target audience |
| 0:40.7 | for this kind of content, |
| 0:42.0 | so I went to find someone who is. |
| 0:44.3 | My name's Sam Gray. |
| 0:45.5 | I work for Radio 1 Newsby, |
| 0:47.3 | and I'm the Cost of Living Reporter. |
| 0:49.2 | For the last year or so, |
| 0:50.1 | I've been following issues and stories |
| 0:52.0 | that affect young people |
| 0:53.4 | when it comes to personal finance |
| 0:55.1 | and consumer affairs. When it comes to Finfluences, that's an offshoot of an influencer, |
| 1:00.7 | a financial influencer. So someone that's giving financial advice online and has built up a big |
| 1:05.7 | audience of people who go to them for their financial advice. And that can be anything from |
... |
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