48% of Gen Z get finance advice from TikTok: is that a problem?

According to a recent Nationwide poll, 48% of Gen Z in the UK say they use TikTok as a source of financial advice. That's nearly half of an entire generation learning about ISAs, pensions, and investing from 60-second videos. It's a massive shift from the days of speaking to a bank adviser or reading the Money section of a broadsheet — and it comes with both opportunities and real risks.

Traditional financial education has a reputation problem: it's boring, jargon-heavy, and often feels irrelevant to young people. TikTok flips that. Creators like finance influencers break down complex topics into short, relatable clips. Want to understand compound interest? There's a 45-second explainer. Confused about student loan repayments? Someone's made a duet about it. The format meets Gen Z where they already spend their time, and that accessibility matters.

The problem is that TikTok doesn't vet financial content. Anyone can post, regardless of qualifications. Some creators promote high-risk investments, dubious crypto schemes, or oversimplified strategies that ignore individual circumstances. The FCA has warned repeatedly about unlicensed financial promotions on social media. A catchy video doesn't equal good advice — and the algorithm rewards engagement, not accuracy.

TikTok is a great starting point for financial awareness, but it shouldn't be your only source. Use it to discover topics, then verify with trusted resources like MoneySavingExpert, the Money and Pensions Service, or Citizens Advice. Check whether a creator is FCA-regulated before acting on investment advice. And be especially cautious of anyone promising guaranteed returns — that's the oldest red flag in finance.

The Nationwide poll tells us something important: Gen Z wants to learn about money. They're actively seeking information, which is a positive sign. The challenge for the industry — banks, fintechs, and educators — is to meet them on the platforms they use, with content that's both engaging and trustworthy. Ignoring TikTok won't make the trend go away. Building better content there might actually help.