Nearly One-Third Of American Adults Now Trust Social Media For Financial Advice: Why That’s A Terrible Idea

Nearly One-Third Of American Adults Now Trust Social Media For Financial Advice: Why That’s A Terrible Idea

Written by James Royal, Ph.D. – Edited by Erin Kennedy – 4 Minute read Nearly one-third of American adults (30 percent) who looked for financial advice in 2023 turned to social media, according to Bankrate’s Financial Security Survey. Younger Americans are even more likely than the average to seek out financial advice from social media, potentially setting them off in the wrong direction during their crucial early saving years, when they could g…