Hint: It's a lot higher than those who benefited from a personal finance course in high school! 

Answer: 79%

Here are the most trusted sites:

Questions:

• Other than the lessons you learn in school, where else do you learn about personal finance? 
• If you have learned some lessons from social media:
  • What was the best advice you received?
  • What was the worst advice? 
• What’s your most trusted site for financial advice?
• How do you determine whether a source of information is reliable or not? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Forbes):

Certified financial behavior specialist Cara Macksoud, managing director and CEO of the personal finance platform Money Habitudes, notes that younger people may be more inclined to follow advice dispensed by people from their own generation than from other generations. But that generational advice comes with a dose of caution.

“Gen Zers idolize influencers, many of whom are being paid to promote financial advice, such as advice about crypto,” Macksoud says. “What these influencers are leaving out is the risks and understanding that are needed to manage those types of investments.”

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For those students curious about being a TikTok creator, here's how much they can earn if they get 1 million views. 

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One of the most popular FinCap Fridays is this episode about the impact of social media on spending: TikTok made me buy it 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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