Social media and other platforms have helped make information on financial literacy, investing and trading more accessible than ever. Many accounts share information that can help people manage their money. But others are sharing advice that regulators say can be misleading.
Some content creators might promote financial products like credit cards along with goods like vitamin supplements and electronics. Others — whether or not they have expertise — might lift the veil on their own financial journeys or share investment strategies. But sorting through the helpful from the deceptive can be a challenging task, especially when it comes to the vast landscape of social media. Financial regulators have warned people to be wary of advice from so-called fin-fluencers.
I’m a New York Times reporter who writes about a broad range of topics, including the impact of digital trends on everyday life. I’ve written about sailors trading tips online over orca attacks and how savvy TikTok marketing revived a restaurant’s business. I’d like to hear from people who have lost money after following financial advice from someone online, whether that’s investing in a risky asset, signing up for a service or something else.
I will read each submission and may use your contact information to follow up if I’m interested in learning more. I will not publish any details you share without contacting you and verifying your information.
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