Nearly one third (31%) of young adults have turned to online sources such as social media influencers for financial guidance and information, with 25% relying on TikTok, according to research by Santander UK.
A study of 2,000 UK adults aged between 18-21 found that 26% had received some sort of financial education at school, which Santander said leaves around 4 million without a fundamental understanding of money management. As such, young adults have been turning to social media to fill this knowledge gap as they start to become financially independent. A greater number of female respondents (34%) had taken to social platforms than men (27%), although women also said that a large proportion of their knowledge was from parents and friends (65%), compared to 56% of men who said the same. ...
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