A Financial Times vezércikke a magyar és a lengyel vétóról értekezett. Visitors to the Budget Mom website could pay $3.99 for a “Where did my money go?” print-at-home worksheet to track their income and expenses. Francesca Henry, aka @the.moneyfox, shares posts with her 22,000 followers on budgeting, being a parent and paying off her debts. “I think when you’re in that place, it feels quite lonely and everything feels like doom and gloom,” says Francesca. . Users sharing their experiences of paying down debt are a powerful tribe. San Diego-based Jeremy Schneider posts as @personalfinanceclub and has 55,000 followers. Amid the deluge of selfies, “content creators” around the world are bringing financial education into the social media mainstream. Popular hashtags include #investing101 and #wealthbuilding but one that really resonates is #financialindependence. And Exhibit A in this regard is the Financial Times. A joint investigation last year by HuffPost and BBC Radio 5 Live found young people were getting into thousands of pounds of debt trying to recreate an Instagrammable lifestyle. Create an account or log in to Instagram - A simple, fun & creative way to capture, edit & share photos, videos & messages with friends & family. ‘It’s finally got to rural America’: coronavirus surges in the Dakotas, UK dismisses ‘derisory’ EU fishing offer ahead of last-ditch trade talks, Saudi Arabia seeks to resolve Qatar crisis as ‘gift’ to Joe Biden, North Korea executes forex trader as Kim tightens grip on economy, HSBC considers exit from US retail banking, McDonald’s Chris Kempczinski: ‘Our menu is very Darwinian’, ‘Boy, did we screw up’: 12 rules for repentance, How AstraZeneca and Oxford found their vaccine under fire, Quintessentially concierge service set up escort agency’s website, Philip Green’s Arcadia on brink of collapse. Annie from @thefiancialdiet stresses that her posts are by no means financial advice, but explore the “emotional side of money”, trying to “take out the taboo” and encourage conversations. Images showing the trappings of wealth are also a potent tool for scammers who have used the platform to promote fraudulent “get-rich-quick schemes”. He thinks Instagram could be used to close the financial advice gap and that the regulated advice industry needs to be more willing to engage with people, at least at the beginning, for free. One of the reasons people turn to Instagram for financial inspiration is because of a lack of financial education elsewhere. Whether you’re spending money, saving it, investing it or earning it, Instagram is set to have considerable influence over our finances in the future. Ashley, @thefiscalfemme, who was previously an investment banker in New York, admits that despite her background she was at a loss when it came to her own finances. Many use colourful stationery and calligraphy to get their message across — or Inspo-gram as some call it. 627.3k Followers, 447 Following, 2,301 Posts - See Instagram photos and videos from The Financial Diet (@thefinancialdiet) Instagram has become a major platform for the Financial Times’ visual content — and it’s now hoping to use Stories to push out more of its charts and graphics. Go to this page, laying out the cost of subscribing to the FT, and you could get any number of different prices. An Instagram-hyped, Mastercard-backed UK fintech seeking a £1bn valuation for its “most secure” payment card technology is not allowed to operate in the UK, the City watchdog has warned. Ashley Feinstein Gerstley, who posts as @thefiscalfemme, adds: “We don’t realise that other people don’t understand [their personal finances] either and are trying to figure it out. Instagram’s help page contains reporting tools for users to flag anything that looks suspicious. Last year, UK fraud authorities warned that hundreds of Instagram users aged between 20 and 30 had been suckered with the promise of high returns, losing nearly £9,000 each on average. Plenty are willing to boast of their success, but real financial dangers lurk in the pursuit of the “Insta-perfect” dream. A lot of the ‘advice’ is style over substance, with similar ideas being shared, but these won’t be right for everybody — and people might not be who they say they are. “I wore a second-hand dress that was £70, Steph wore a free dress that her mum had worn to get married two years earlier, we DIY’ed and made the best of what we had,” posted Lisa Garwood-Cross, the 28-year-old behind the @living_thrifty account. Tips on how to budget, start investing or bridge the gender pensions gap might not be what you’d expect to encounter scrolling through your Instagram feed — but these topics are finding traction with young people seeking to nurture better financial habits. In interviews with Instagrammers for this article, four words came up frequently: honesty, vulnerability, authenticity and, more surprisingly, loneliness. As a child of immigrants in the US, she says learning about personal finance gave her the opportunity to create the sort of wealth her family did not have when she was growing up. Making a bouquet of paper flowers from a vintage comic book (cost: £1.58) is one way she’s been sharing the story with her 11,000 followers on the picture-sharing app of how she stuck to a £2,500 wedding budget. Expert insights, analysis and smart data help you cut through the noise to spot trends, We would like to show you a description here but the site won’t allow us. “A few years ago I was in a really bad place financially — I was in a really unhappy marriage, I had a little girl, and I ended up getting in debt,” she says. He shares small, bite-size infographics such as his “rules of building wealth” which include “live below your means” and “invest early, and often”. Many use Instagram to document their journey towards a debt-free life, recounting how arduous, but ultimately rewarding, this process can be. [Knowing this] can make it feel a lot less lonely.”. The “Instagram generation” may be criticised for loving consumption-fuelled images of designer clothes, expensive brunches and exotic holidays, but the platform is increasingly providing the “inspo” for those looking to save money, learn to budget, start a retirement fund or get out of debt. It is formed largely of people with zero professional interest in managing money sharing their insights with like-minded people. Washington-based Kumiko Love, aka @thebudgetmom, has an Instagram grid filled with colourful doodles and inspirational quotes (such as “small steps to success are still steps in the right direction”) designed to spark an emotional response. Whereas some content creators are selling an idea, others find that as their followers soar, they can sell much more than that. Its adherents may well be earning a big salary or have considerable wealth behind them, showing the many shades of the Instagram money community. Engagement with brands on Instagram is 10 times higher than Facebook, 54 times higher than Pinterest, and 84 times higher than Twitter. Instagrammers also offer plenty of ideas for those looking to take their finances to the next level through learning about investing or starting a retirement fund. Monzo’s highly Instagrammable coral pink payment card is a popular focus point for the 50,000 @Monzo followers, but the bank’s posts have evolved into data-based insights into young people’s spending habits. Financial blogger Lynn James posts as @mrsmummypennyuk and shared her #debtfreejourney on Instagram as she spent two years paying down £16,000 worth of credit card debts. Instead, by using visual inspiration, money advice is like a “Trojan Horse” or the “medicine in the cheese”. Instagram scheduling tool Later analyzed 12 million Instagram posts that were posted from all over the world from accounts with both small and large followings. “The vast majority of creators find that content which gives a realistic view of everyday life performs best with their followers,” adds Ms Caiden. Parents are an important part of the community, posting how they manage money while bringing up children. “While it’s great that people are engaging with their finances, never forget that the internet is the Wild West. One of his early posts, headed “How to become a millionaire” is still among his most popular: “Invest $250 a month in an S&P500 index fund . They’re like, ‘wait, $250 a month, that’s not a crazy number’ . It details eight common types of fraud including false investment scams promising “unrealistic monetary benefits”, loan scams offering a low interest rate for an advance fee and job scams using “misleading or fake job postings to try and get your personal information or money”. The link between money problems and mental health issues is now well established, but many micro influencers say they started posting about their money problems to combat feelings of shame, social isolation or not knowing what to do. 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