June 23, 2021
Markets

FinTok is a growing trend, but should you take advice from ‘finfluencers’?

Queenie Tan is full of financial advice. Whether it is cheap date ideas, buying furniture, saving your first $100,000, doing your tax return or investing in Dogecoin, there is seemingly no topic the 24-year-old Sydney woman can’t confidently tackle.

Her posts and videos have gained her 15,000 followers on Instagram and 42,000 followers on TikTok. Her explainer on Australian tax rules for cryptocurrency capital gains has been viewed more than 360,000 times. Her tips for first home buyers more than 400,000 times. Both videos last less than a minute.

Queenie’s qualifications as a financial expert are slim. She has worked as a marketing manager. She says she accumulated close to $350,000 in assets in five years. That, along with being photogenic and vivacious, is more than enough to join the swelling ranks of “finfluencers” — social media content creators building an…

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