5 tips for using social media to make decisions about managing your money

Whatever your money goals, social media can provide a great platform for you to hear from experts otherwise known as ‘finfluencers’ (financial influencers) on anything from saving and budgeting to investing. But it’s super important not to feel pressurised to act quickly when you see something on social media (48% of young people do*) and to follow our five top tips to assess the reliability of the advice from a finfluencer you are following: 
  
1. Verify the finfluencers credibility 

Research is key, you must do plenty of research before parting with your money, as it will help give you confidence that you are making the right decision. After all, it’s an important one.  Did you know that 58% of young people admit that seeing that an influencer who appears to have made a lot of money makes them more likely to follow their recommendations**, and 53% of those using social media for investment guidance do not always carry out checks to verify the reliability of ‘finfluencer’ content*** – do your due diligence.  
  
2. Fake celebrity endorsements and deep fakes

Fake celebrity endorsements have become a significant problem, as scammers use them to deceive people into parting with their money via fake money-making schemes.  So take some time to make sure it’s genuine, again do your research, talk to someone you trust who has the experience to guide you. 
  
3. Look for online reviews 

If you’re buying something online or going on holiday you probably look at loads of reviews to establish the trustworthiness, make sure this also forms part of your research for saving and investing your money. 
  
4. Upfront payments

Where you’re asked to pay an upfront fee be cautious about upfront payments, you should see this as a red flag. 
  
5. Promise of a high return

No genuine expert would rush you into parting with your money.  Clickbait promises such as , “get rich quick” returns, promotion of cryptocurrencies or secret opportunities are also big red flags.  It’s back to doing that research again, don’t be won over by lavish lifestyles or follow tips from influencers who have made a lot of money without doing this. If something seems too good to be true, then it probably is.   
  
Remember you don’t have to be a genuine expert to post a video online, it’s important to seek advice or guidance from a trusted source.  
  
When it comes to scams, there are places you can go to double check:

• FCA’s ScamSmart Investment Checker to make sure the firm promoting the investment isn’t on its warning list.
• Financial Services Register to make sure that they are authorised by the FCA and there are registered details you can use to contact them in a legitimate way.
• Read MoneyHelper’s guidance on how to spot an investment scam for useful information and warning signs to avoid falling victim to scammers.

***Source: Research that was carried out between 14 October – 17 October 2025 by Opinium Research on behalf of Barclays. There were 2,000 respondents in each round of research, providing a representative sample of UK consumers by age, gender, region, and income group.