TikTok can be both a fun way to waste time and a serious way to be smart about money.
FORT LAUDERDALE, Fla.July 25, 2023 /PRNewswire/ — Debt.com has announced the winners of the first-ever FinTok Awards, which recognizes the TikTok content producers offering the most reliable financial advice on the social media app best known for trendy dances, viral challenges, and comedy skits.
The FinTok award winners are…
- Best Financial Advice for 30 and Under: Smart Money Mamas
- Best Credit Repair Advice: The Money Plug
- Best Bankruptcy Advice: The Ladylike Lawyer
- Best Hispanic-Focused Money Advice: Latina Wealth Activist
- Best Personal Finance Advice: Grace Lemire
Debt.com has interviewed each winner, and one theme emerges, says Debt.com chairman Howard Dvorkin, CPA. “When you think of TikTok, you probably don’t conjure up images of people delivering blunt financial advice in one-minute increments,” Dvorkin says. “But that’s exactly what we found. These are responsible educators and people who want to share what they have learned. In other words, if you know who to follow, you can earn a solid financial education on TikTok.”
Most of the winners had something else in common, says Debt.com president Don Silvestri.
“They didn’t get their start on TikTok, they migrated there,” Silvestri notes. “They were savvy enough to see an opportunity on a platform that wasn’t built for money advice, but the winners we spoke with all agree: Financial educators need to go where the people are. And a lot of people are on TikTok.”
The winners also combine whimsical entertainment with practical experience. For instance, credit repair winner Markia Brown is a Certified Financial Education Instructor and a Registered Financial Associate. She told Debt.com she earned those certifications “because that was one of the ways that I could prove to myself that I knew what I was talking about.”
Adrienne Hines – the Ladylike Lawyer – knows what she’s talking about because she’s a bankruptcy attorney. “People will sell their home to pay a credit card bill and leave themselves homeless before they explore a realistic legal option,” Hines says. “They can’t imagine calling a bankruptcy lawyer. My whole point on TikTok is to simply inform people that there’s more than one option.”
Grace Lemire adds “People go on TikTok because they want to connect with others like them. They don’t want to be lectured – that’s what school is for.”
The 2024 Fintok Awards will begin next April, which is Financial Literacy Month in the United States. Debt.com recognizes this designation each year to raise public awareness about the importance of financial literacy and maintaining smart money management habits. TikTok money creators and educators are welcome to reach out Debt.com for consideration for inclusion of the 2024 FinTok Award program.
About: Debt.com is a consumer website where people can find help with credit card debt, student loan debt, tax debt, credit repair, bankruptcy, and more. Debt.com works with vetted and certified providers that give the best advice and solutions for consumers ‘when life happens.’