Personal finance influencers are on the rise, with financial wellness now being considered alongside other wellness niches such as nutrition, fitness and mindfulness. With new personal financial influencers appearing on Instagram and other social channels every day, it’s easy to see the key trends that these influencers are putting forward to their followers.
Women & Money
Women and Money is a key trend that has even been seen across wider campaigns- who could forget that distasteful (and quite frankly, sexist) NatWest advert last year? After a public outcry, female financial influencers took matters into their own hands to ensure an empowering, female-focused message about women and finance was delivered instead.
Now we can see more conversations about women and investing, women and pensions, and women taking control of their own finances. Not to mention the all-important gender pay gap. Female influencers are encouraging other women to take control, ask for pay rises and ask questions about any gender disparities in the workplace.
Ethical investing is an influencer trend that is seeing more and more traction among young investors. Some investors are now seeking further clarity about what their money is being invested in- whether that’s through their pension or their stocks and shares ISA.
It is no longer desirable to invest in fossil fuels, arms or tobacco. Instead, many influencers are trending towards socially responsible investments, and encouraging their audience to do the same.
With the financial impacts felt globally from the pandemic- many are now worried about the uncertain future that we have ahead of us. Financial influencers are encouraging their followers to save and protect their future selves.
Many people will be wishing that they had an emergency fund of cash stashed away for this pandemic. Followers are now being influenced to put better money management practices in place in order to prepare and safeguard themselves from any financial losses in the future.
There is an emphasis on saving and not spending in order to ride out the crisis.
Influencers are supporting challenger banks like Monzo and Starling who are paving the way for innovation in personal finance. Never before has it been easier to manage money- and from a smartphone too!
A particular draw of supporting these challenger banks is the budgeting tools they offer alongside cash incentives for joining the challenger bank (for both the influencer and the follower).
Putting passive income streams in place is portrayed by many personal finance influencers in 2020 to be the holy grail of earning money online. And it is. Who doesn’t want to make money whilst they sleep?
As more and more people look to make money online on their own terms, personal finance influencers are paving the way for people to do so outside of a traditional work structure.
Influencers are posting content around how to set up passive income streams, how to maintain passive income streams, and of course, reminding their followers that many millionaires supposedly have seven streams of income!