Money

Young employees seek financial guidance from influencers

Published

1 year ago

March 12, 2024

Ahron Young

As digital platforms continue to influence various aspects of daily life, a recent study unveils a significant trend in Australians seeking money advice from online creators.

With 30% of Aussies turning to social media for financial guidance, Finder’s research highlights the growing impact of digital personalities on money management habits.

The survey, conducted among 1,063 respondents, showcases a notable demographic pattern, with young Australians being the most receptive to online financial advice.

A staggering 48% of Gen Z individuals have taken concrete steps towards managing their finances based on recommendations from online creators, compared to 17% of Gen X.

Key influencers

Finder’s 2024 Financial Figures list, released alongside the survey results, spotlights key influencers in the financial realm who have captivated audiences with their insightful advice.

Among the recognized personalities are Jessica Irvine, Canna Campbell, and Joel Gibson, renowned for their expertise in guiding individuals towards financial empowerment.

Chris Kohler, Queenie Tan, and Natasha Etschmann are also celebrated figures on the list, known for their contributions to enhancing Australians’ financial literacy through digital platforms.

Taylor Blackburn, a personal finance expert at Finder, emphasizes the transformative role of finance creators in enhancing financial awareness across Australia. “From practical tips on saving money to strategies for overcoming debt, these online figures are inspiring a new wave of financial literacy among Australians,” Blackburn states.

According to the research findings, the influence of financial personalities extends beyond mere inspiration, as demonstrated by the actions taken by respondents.

Save money

Thirteen percent reported being encouraged to save more money, while 9% were inspired to create a budget. Additionally, 9% reduced their spending, and 8% initiated a side hustle, illustrating the tangible impact of digital advice on financial behavior.

Other actions inspired by online guidance include investing in shares or cryptocurrency (5%) and seeking better deals on utilities or insurance (4%).

While acknowledging the positive influence of online financial advice, Blackburn emphasizes the importance of exercising caution and conducting thorough research.

“While social media platforms provide valuable insights, it’s essential to verify the credentials and experiences of individuals offering financial advice online,” Blackburn advises.

Despite the growing prominence of online financial influencers, the study reveals that a significant portion of Australians (70%) do not pay attention to financial personalities on social media, highlighting the need for continued efforts in promoting financial literacy across all demographics.

As digital platforms continue to shape consumer behavior, the role of online influencers in guiding financial decisions is likely to remain a significant factor in Australia’s financial landscape.

What has a finance social media personality influenced you to do?

– Save more money: 13%
– Create a budget: 9%
– Reduce spending: 9%
– Start a side hustle: 8%
– Invest in shares/crypto: 5%
– Find a better deal on utilities/insurance: 4%
– Ask for a raise: 4%
– Shop around for cheaper petrol: 3%
– Nothing, I don’t pay attention to financial social media personalities: 70%

Money

Markets surge as Fed hints at July cut

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.

Published

13 hours ago

July 11, 2025

ticker NEWS

Fed’s Waller hints at July rate cut, boosting investor sentiment; Trump imposes 50% tariff on Brazil, provoking minimal market response.

Fed Governor Christopher Waller, tipped as a possible next Chair, signalled a July rate cut is on the table, calling current policy “too tight.” That’s been enough to supercharge investor sentiment.

Meanwhile, Trump has slapped a surprise 50% tariff on Brazil, sparking political tension. Brazil’s President responded with tough talk on “sovereignty,” but markets barely blinked, the Brazilian real dropped just 1%.

#StockMarket #FederalReserve #Bitcoin #AUD #TrumpTariffs #TickerNews

Money

Trump’s copper tariff shakes global markets

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

Published

2 days ago

July 10, 2025

ticker NEWS

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

President Donald Trump has unveiled plans to impose a 50% tariff on copper imports, a move set to rattle global supply chains and redraw the industrial map.

The tariff will hit within weeks, with Chile, the world’s largest copper exporter, expected to bear the brunt.

While Australia’s direct copper trade with the US is limited, analysts say the real message is strategic: the US is reinforcing its domestic manufacturing power.

#CopperTariff #DonaldTrump #TradeWar #GlobalMarkets #TickerNews

Money

RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

Published

3 days ago

July 8, 2025

Ahron Young

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.