5 Personal Finance Influencers You Should Be Following
If there is one culprit to point to when it comes to fueling the desire to live beyond your means, it is definitely Instagram. Every day our feeds are filled with pictures of celebrities, influencers, and sometimes even your friends and family #living[their]bestlife or engaging in pretty expensive #selfcare sessions. These posts are more often than not filled with exotic locations and expensive splurges like fancy lattes, meals, handbags, and clothing.
It’s natural to feel envious of the influencers on your feed. Unfortunately, it’s also natural to wonder why you don’t deserve these things and wind up splurging. This cycle of envy, sadness, splurging, and regret can be broken. Not only can you break this cycle by more mindful consumption of Instagram, but you can follow influencers that will allow you to make better money choices.
There are Instagrammers who strive to demystify aspects of personal finance often not taught to the public. Today we count down the top five finance influencers you SHOULD be following!
1. THE FINANCIAL DIET
Instagram: @thefinancialdiet
Category: Financial Basics
The Financial Diet (TFD) is a one-stop-shop for financial advice when it comes to saving, investing, debt, financial literacy, and even career advice. Following TFD will fill your feed with easy-to-understand financial advice through beautiful posts. By promoting an open dialogue about money from people of all backgrounds, we learn what makes sense for us and that our financial situation is perhaps more normal than we previously believed. TFD is a great account to follow to start your financial influencer journey.
2. DEBTSTORICHES
Instagram: @debtstoriches
Category: Debt Management
Debt. Whether consumer, property or student loans, most of us have some debt. In most Canadian provinces, the cost of living is rising much faster than wages, creating the need to fall back on debt for some to get by. Debt can be scary, becoming worse when we ignore the e-mails, letters, and phone calls until it’s too late. DebtstoRiches offers help in the form of tips, book recommendations, and articles on debt. They also provide easy-to-understand posts that offer aid, statistics, and advice that most of us are able to implement.
DebtstoRiches focuses on student debt, something many Canadians struggle with. The account tells their personal story of how they paid off $80,500 of their student debt in 48 months. This story is inspiring and lets us know that there is a light at the end of the tunnel. With this account on your feed, perhaps you too can go from “debts to riches.”
3. MONEY LOBBY
Instagram: @moneylobby.ca
Category: Finance for Millennials
MoneyLobby.ca is a newcomer to financial Instagram, but has definitely earned a place on this list. The woman responsible for Money Lobby is a financial professional as a virtual and corporate banker who has started her own young family recently. The account strives to simplify finances by defining terms and giving easy-to-read advice. Her aim is to help people from all financial backgrounds earn their financial independence through education. Just as literacy improves your life by expanding your understanding and experience, increasing your financial literacy only serves to improve your life by improving your understanding!
4. WISE WOMAN WALLET
Instagram: @wisewomanwallet
Category: Debt Management
Wise Woman Wallet follows the journey of a teacher abroad who is paying her debt off. This page offers consumer-focused tips to help you on your journey to eliminate your debt while sharing her journey. Wise Woman Wallet empowers you to take charge of your finances in beautiful and easy-to-digest posts. Sharing your journey with others who are working towards eliminating their debt might just be the motivation you need along the way.
5. CLEVER GIRL FINANCE
Instagram: @clevergirlfinance
Category: Financial Empowerment
Where many influencers seem to tempt us to live outside our means, Bola and her team teach us the importance of living within them. Like many other personal finance influencers, Clever Girl Finance offers practical advice on many different avenues of personal finance, such as debt, savings, and investments. They definitely put an emphasis on knowing how to live happily with what you have. Adding Clever Girl Finance to your feed will help you to realize the difference between a “want” and a “need,” reducing the messages of “you need this to be happy” cluttering your feed.
It can be hard to scroll through our social feeds without feeling inadequate and getting that desire to treat our money like it will buy happiness. However, social media, and especially Instagram, can be used more purposefully to reduce these feelings and stop the cycle. By adding these five finance influencers to your feed, you will learn how to #liveyourbestlife more responsibly.
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