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Yahoo
11-05-2025
- Business
- Yahoo
4 Finance Influencers on TikTok that Actually Give Good Advice
Financial literacy is a skill that very few can master, let alone teach on a public platform. As social media platforms become increasingly flooded with misinformation, it's hard to know who or what to trust, particularly when it comes to money. Read More: Find Out: That being said, there are a few TikTok influencers in the financial space who are dubbed as 'finfluencers' who know what they are talking about when it comes to money management, some even being recognized by apps like Chime as the experts on 'FinTok.' Looking to social media for money advice and tips? Here are four finance influencers on TikTok who actually give good advice. 'TikTok isn't where I learned finance — but it's where a surprising number of people are learning it right now,' described Kraig Kleeman the founder and CEO of The New Workforce. Kleeman admitted that the financial advice landscape on TikTok can feel like the Wild West, but creators like Vivian Tu — who labels herself on the platform as an 'ex-Wall Streeter Helping you get rich' — offer truly valuable content that can help people take control of their money. 'I have a lot of respect for creators like Vivian Tu for her clear myth-busting content regarding everyday money issues,' Kleeman said. Beyond TikTok, Mady Mills is best known for being a financial influencer and an on-air host for Yahoo Finance, adding to her clout and credibility. 'Mady's ability to break down complex financial concepts for her audience into easily understandable insights show that she is worth her salt as a financial influencer,' said Aaron Razon, a personal finance expert at Couponsnake. 'Not only are her contents informative and empowering, but they also help her audience make informed financial decisions, as well as make it possible for them to stay up to date with market trends and economic developments,' Razon stated. Discover Next: Chelsea Fagan's message of fiscal responsibility is designed for young women, especially ones who are looking to improve their overall understanding of money and finances for themselves. Razon pointed out that Fagan, 'Creates content that emphasizes the importance of budgeting and saving, financial literacy, lifestyle and finance, and investing and debt management.' The lessons that Fagan offers on her TikTok channel help empower young women with clear, uncomplicated tools and resources to help young women take control of their financial lives. Josh Brown is a registered investment advisor, as well as the co-host of the Compound and Friends Podcast, making him a notable finance expert by bringing years of credentialed experience to his TikTok videos. According to Razon, Brown's resume and track record proves 'that he knows what he is saying and that it is safe to take both himself and his advice seriously, especially when it comes to investing and financial planning.' More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines Sources: Chime, 'Chime Declares 2024 as 'The Year of #FinTok' Kraig Kleeman, The New Workforce Aaron Razon, Couponsnake This article originally appeared on 4 Finance Influencers on TikTok that Actually Give Good Advice
Yahoo
11-05-2025
- Business
- Yahoo
4 Finance Influencers on TikTok that Actually Give Good Advice
Financial literacy is a skill that very few can master, let alone teach on a public platform. As social media platforms become increasingly flooded with misinformation, it's hard to know who or what to trust, particularly when it comes to money. Read More: Find Out: That being said, there are a few TikTok influencers in the financial space who are dubbed as 'finfluencers' who know what they are talking about when it comes to money management, some even being recognized by apps like Chime as the experts on 'FinTok.' Looking to social media for money advice and tips? Here are four finance influencers on TikTok who actually give good advice. 'TikTok isn't where I learned finance — but it's where a surprising number of people are learning it right now,' described Kraig Kleeman the founder and CEO of The New Workforce. Kleeman admitted that the financial advice landscape on TikTok can feel like the Wild West, but creators like Vivian Tu — who labels herself on the platform as an 'ex-Wall Streeter Helping you get rich' — offer truly valuable content that can help people take control of their money. 'I have a lot of respect for creators like Vivian Tu for her clear myth-busting content regarding everyday money issues,' Kleeman said. Beyond TikTok, Mady Mills is best known for being a financial influencer and an on-air host for Yahoo Finance, adding to her clout and credibility. 'Mady's ability to break down complex financial concepts for her audience into easily understandable insights show that she is worth her salt as a financial influencer,' said Aaron Razon, a personal finance expert at Couponsnake. 'Not only are her contents informative and empowering, but they also help her audience make informed financial decisions, as well as make it possible for them to stay up to date with market trends and economic developments,' Razon stated. Discover Next: Chelsea Fagan's message of fiscal responsibility is designed for young women, especially ones who are looking to improve their overall understanding of money and finances for themselves. Razon pointed out that Fagan, 'Creates content that emphasizes the importance of budgeting and saving, financial literacy, lifestyle and finance, and investing and debt management.' The lessons that Fagan offers on her TikTok channel help empower young women with clear, uncomplicated tools and resources to help young women take control of their financial lives. Josh Brown is a registered investment advisor, as well as the co-host of the Compound and Friends Podcast, making him a notable finance expert by bringing years of credentialed experience to his TikTok videos. According to Razon, Brown's resume and track record proves 'that he knows what he is saying and that it is safe to take both himself and his advice seriously, especially when it comes to investing and financial planning.' More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines Sources: Chime, 'Chime Declares 2024 as 'The Year of #FinTok' Kraig Kleeman, The New Workforce Aaron Razon, Couponsnake This article originally appeared on 4 Finance Influencers on TikTok that Actually Give Good Advice Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-05-2025
- Business
- Yahoo
Trump Doesn't Rule Out a Recession This Year — What Could That Mean for Your Wallet?
President Donald Trump made headlines in March by stating that he wouldn't rule out the possibility of a recession. The Dow Jones Industrial initially reacted to his comment by dropping nearly 900 points (about 2%). Find Out: Read Next: Beyond Wall Street's reaction, let's examine what the prospect of a recession mean for everyday Americans — and more importantly, their wallets? One of the biggest concerns with a potential recession is its impact on the job market. Melissa Cid, a consumer savings expert at and a mother of four, warned that this could affect employment and force tighter budgeting. 'If a recession hits, many businesses will need to cut costs, which will lead to layoffs and a shrinking job market,' Cid said. 'That means families may have to stretch their budgets even further as income becomes less stable.' While employment rates remain strong for the most part, though more than 10,000 federal jobs have been cut, and another 21,000 or more probationary jobs rescinded or cut, economic downturns can bring significant job losses, making it crucial to have a financial safety net in place. Learn More: Though inflation has eased slightly, prices for everyday essentials remain high. Cid stressed that budgeting for groceries and other necessities, which has already become a priority for many families, would become even more important if a recession hits. She said this is already manifesting in one specific way: 'There is new interest in an old savings hobby — couponing!' Cid said. 'I'm starting to see a resurgence in response to the rising cost of groceries and services. Couponing is the easiest it's ever been since you can do it right from your phone. Small savings can really add up by using coupons at the grocery store, comparative shopping and utilizing rebate apps like Ibotta and Fetch.' She also recommended shopping at supermarkets known for their low prices, like Aldi, and taking advantage of restaurant loyalty programs to cut dining costs. A recession impacts Americans differently depending on income levels. Aaron Razon, a personal finance expert at Coupon Snake, noted that it's middle- and lower-income households that tend to bear the brunt of economic downturns. 'If the U.S. enters a recession this year, two of the biggest financial impacts the average American should be worried about are the cost of living and limited economic opportunities,' Razon said. Unlike inflation, where prices rise but income often remains the same, a recession can bring reduced income, job losses and limited access to credit, he pointed out, all of which make it even harder to afford everyday essentials like groceries, gas and housing. For those already struggling, a recession raises the chances of increased debt, food insecurity and even housing instability. Even though a recession isn't guaranteed, financial experts recommend taking proactive steps to strengthen your financial position. Razon advised consumers to focus on financial flexibility by: Developing new skills to improve employability Diversifying income streams Maintaining a strong credit score to ensure access to affordable credit Managing debt effectively Optimizing investments Building an emergency fund with at least three to six months of living expenses 'The number one lesson consumers can take from past recessions is the importance of having a safety net in the form of an emergency fund,' Razon said. Another key aspect to watch if a recession hits is how the Federal Reserve adjusts interest rates. A recession could lead to either lower or higher interest rates. 'Lower rates could mean reduced debt burdens and lower monthly payments,' Razon said. 'On the other hand, higher rates could result in increased debt burdens and reduced affordability, particularly for those carrying credit card debt, mortgages and personal loans.' For homeowners, a recession-induced rate drop could present an opportunity to refinance at lower rates. For savers, however, lower interest rates might mean reduced returns on high-yield savings accounts and CDs. While recessions bring financial hardship, they can also present opportunities for those who are prepared. As Razon pointed out, lower stock prices during a downturn may create investment opportunities for those with financial stability. 'Unless consumers have maintained stability in their finances, have built an emergency fund and are informed on economic trends, they won't be able to leverage these opportunities,' Razon said. While Trump's statement about a possible recession has sparked concern, the best response is to take proactive steps to protect your finances. Whether it's tightening your budget, increasing your savings or diversifying your income, preparing now can help you weather economic uncertainty should a downturn occur. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for Retirees How Far $750K Plus Social Security Goes in Retirement in Every US Region 7 Overpriced Grocery Items Frugal People Should Quit Buying in 2025 12 SUVs With the Most Reliable Engines This article originally appeared on Trump Doesn't Rule Out a Recession This Year — What Could That Mean for Your Wallet?
Yahoo
26-04-2025
- Business
- Yahoo
What If Your Groceries Doubled in Price?
There is no easy way around the fact that everything is getting more expensive these days, especially groceries. With the global economy fluctuating up and down and no ease in sight, consumers are left to foot the bill, which has often become twice as much money for them, if not more. Consider This: Read More: If you are seeing your groceries prices double, here are some tips from experts on what to do. 'One of the shopping mistakes many make that ends up doubling their grocery bills is they ignore generic brands and opt for name brands instead,' highlighted Aaron Razon, a personal finance expert at Couponsnake. It was noted that this is usually because generic brands are deemed to be inferior in quality, which is why they have lower prices. 'However, many generic and store-brand products often offer similar quality, but at a lower price point, and this makes them a cost-effective alternative that can significantly slash your grocery bills without compromising taste or nutrition,' Razon shared. By considering generic or store brand products, Razon pointed out how the average consumer would be able to make their grocery shopping more budget-friendly, and have a couple of extra dollars to allocate toward other essential items. Be Aware: Look at your weekly grocery haul and see what 'splurges' you can cut back on. Instead, focus only on what you need, said Laurie Sepulveda, a personal finance expert at MarketWatch Guides. Sepulveda cited data in a new MarketWatch Guides survey that found 43% of Americans are avoiding splurging on treats and prestige-priced goods, making this the most popular strategy. 'Fancy prepared foods can eat away a big chunk of your grocery budget,' Sepulveda described. 'Many times, you can recreate splurges at home for a lot less.' According to Razon, another thing consumers can do if they find that their grocery bill doubling is to avoid processed and pre-prepared foods because they are more expensive than whole ingredients. In fact, by choosing whole foods like vegetables, fruits and grains, consumers would be saving money and benefitting from the superior nutritional value these foods provide. This might add some extra stops and the hassle of going multiple places to get your full grocery list, but Chris Motola, the National Business Capital Special Projects Editor and Financial Analyst, explained it could help lower your bill. 'Supermarkets and many other types of businesses will have a loss leader at any given time,' Motola went on to say. 'That is, a product that's being sold cheaper than cost. The idea here is that the product attracts customers to the store who will then also spend money on more profitable products. Strategically buying loss leaders and limiting spending on other products during your shopping run can help keep your grocery bill down.' Motola suggested consumers should be willing to shop at multiple stores. 'Different stores will have different sales and loss leaders at any given time,' it was noted. 'It takes some planning and a little more time, but if you live in an area with a healthy amount of supermarket competition, you can save money by strategically buying items on sale at each,' added Motola. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth 4 Things You Should Do if You Want To Retire Early How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on What If Your Groceries Doubled in Price? Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
7 Things To Do With Your Money If Tariffs Are Making Your Lifestyle Harder To Afford
If the tariffs that President Donald Trump has promised on many of the country's trade partners go into effect, many goods and services will likely become more expensive. For some Americans, their lifestyles may become harder to afford. Learn More: Read Next: Experts recommended some money moves to make to adjust to a high-tariff environment. If your everyday costs are rising due to tariffs, it's important to track your expenses because tariffs are probably not affecting all your purchases in the same way, according to Aaron Razon, a personal finance expert at Coupon Snake. Tracking will enable you to identify the specific items and categories that are the most affected by the tariffs, and show where cutbacks may be necessary, he added. Another step is to segment your spending into 'fixed,' 'variable' and 'postponable' categories, according to Sara Levy-Lambert, head of growth at Awning. She explained, 'I once rewrote my own household budget this way, during a 2018 spike in fuel and import prices, and discovered that we were able to defer almost 15% of monthly outgoings without noticing the difference.' Find Out: You don't have to abandon everything you purchase, but it is a good idea to anticipate what will immediately get more expensive. The areas of household budgets that will likely be hardest hit by tariff-related inflation are household goods, clothing and textiles, food and beverages and electronics, Razon said. So the best way consumers can adjust their spending habits without sacrificing their quality of life is to consider cost-effective alternatives for these items. Consumers could look to buy secondhand or refurbished items on places like Facebook Marketplace, local 'Buy Nothing' groups and consignment stores, Levy-Lambert said. And of course, you'll save money by making certain lifestyle adjustments like cooking at home as opposed to dining out, Razon pointed out. Another option is to 'lean into domestically produced substitutes, which might now be roughly equivalent in price due to the tariffs on foreign products,' Levy-Lambert said. These products may also become more affordable over time. Otherwise, if you were planning to purchase a big-ticket item like a car, a major appliance or sports equipment, delay your purchase until tariffs drop or cheaper alternatives come around, Razon said. If you're encountering economic strain that's tied to tariffs, you may want to revisit your saving and investing strategies, Razon said, moving anything that's invested in risky or volatile ways to assets that are more stable. However, Levy-Lambert recommended that if your investments are relatively stable, don't make any 'dramatic changes' based on tariffs. 'If your budget is so tight that you are relying on high-interest debt, then yes, reallocating from low-yield savings to pay off that debt may be beneficial,' she said. Most retirement accounts average out over time. While it can be frustrating to have to give up an aspect of your lifestyle due to financial strain, you might be able to keep some of the enjoyable parts by negotiating bills and finding better deals. Most folks have no idea how negotiable their 'fixed' expenses are, Levy-Lambert said. Internet, insurance, cellphone plans, even gym memberships often have retention departments that can offer you better rates. 'A client of mine called her cable company recently to downgrade a plan and was offered a 20% discount, simply for asking. Surviving economically necessitates negotiating,' she said. If you're overwhelmed by where to even start making changes, Levy-Lambert suggested using 'a goal-stacking approach.' 'Focus with intensity on one priority, such as credit card debt, and automate small contributions to the others. Even $25 a month deposited in a high-yield savings account helps keep the momentum up, she said, because when things are tight, 'momentum counts more than magnitude.' Lastly, a lifestyle adjustment may follow more easily when you first make a mindset shift. When the cost of living keeps creeping up, one mindset shift that may help people stay financially focused is putting your energy into that which you can control, Razon said, 'things like their spending habits, savings strategy and budget.' Additionally, Levy-Lambert recommended changing 'a scarcity mentality into resourcefulness.' This can mean that instead of thinking about what you can't afford, think instead about your options, such as bartering, DIY, community support and habit swapping. 'As I often remind people, adaptability is the real currency of resilience. When you no longer expect life to remain the same and implement systems that thrive under pressure, you regain control, even amid rising prices,' she said. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates Mark Cuban: Trump's Tariffs Will Affect This Class of People the Most 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth How To Get the Most Value From Your Costco Membership in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on 7 Things To Do With Your Money If Tariffs Are Making Your Lifestyle Harder To Afford Sign in to access your portfolio
