Social media influencers are here to stay, regardless of what happens with TikTok. Here's how to vet money advice from them.

• After Trump issued an executive order, TikTok was restored online for its users.
• Financial influencers are guiding their followers to other platforms despite the app's uncertain long-term future.
• Here's what consumers need to know.

TikTok's fate is still uncertain.

The Supreme Court recently upheld the law that prohibits TikTok from operating in the U.S. However, one of Trump's first actions as president was to issue an executive order to temporarily suspend the ban for 75 days, which began on Jan. 20.

TikTok's financial community, or #FinTok, is a popular source of information about personal finance for Gen Zers, who were born between 1997 and 2012.

The CFA Institute's 2024 report revealed that the younger generation is more likely to consume "finfluencer" content on TikTok, YouTube, and Instagram, as they lack access to professional financial advisors and prefer online information sources.

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A recent report by Chime revealed that Americans last year sought financial advice on various topics, including budgeting (25%), investing (24%), credit cards and credit scores (33%), through TikTok.

TikTok user engagement patterns were analyzed by the site, which polled 2,000 U.S. adults from November 1 to 16 and compared the data with that of Google Trends and Exploding Topics, which track trend popularity and growth over time.

As the Jan. 19 deadline for TikTok's law approached, finfluencers urged their followers to switch to other platforms such as Instagram and YouTube. Additionally, individuals downloaded social media apps like RedNote as alternatives to TikTok.

Finfluencers will remain a force, regardless of what happens with TikTok. Here's how to evaluate their advice.

The value of financial advice on TikTok

Since using TikTok, 65% of respondents in Chime's survey feel more financially secure, while 68% say #FinTok has improved their financial situation at home.

According to certified financial planner Douglas Boneparth, president and founder of Bone Fide Wealth, a wealth management firm in New York City that caters to millennials, young professionals, and entrepreneurs, TikTok users are increasingly drawn to concise personal finance advice that integrates budgeting apps, micro-investing, and community-based saving challenges for the year 2025.

Experts suggest incorporating the "loud budgeting" trend into your finances in 2025, which involves being vocal about making money-conscious decisions and taking control of your finances rather than overspending.

Financial therapist Lindsay Bryan-Podvin, author of "The Financial Anxiety Solution" and founder of Mind Money Balance, asserts that loud budgeting is merely a way of establishing financial boundaries.

A no-spend challenge can help you evaluate your spending and saving habits, according to Bryan-Podvin.

Boneparth, a member of the CNBC Financial Advisor Council, advised that these trends should be adopted if the underlying strategies are verified and modified to align with personal financial goals and risk tolerance.

A significant number of social media users have been misled by incorrect or risky financial advice, with 27% believing such information, according to Edelman Financial Engines. Additionally, 42% of surveyed adults in their 30s have fallen victim to bad financial advice on social media, with 2 in 10 being affected more than once, the report revealed.

A total of 1,500 adults aged 45 to 70 with household assets between $500 and $3 million were included in the sample polled by Edelman from June 12 to July 2024.

Vet financial content and find other sources

Experts advise social media users to exercise caution when sharing content from influencers.

CFP Brian Walsh, head of financial planning advice at SoFi, stated that there is no obstacle for influencers to join a platform.

It can be concerning to apply information obtained from social media to personal finances, he said.

Someone with a large following can easily promote something that is incorrect, according to Walsh.

Those who have been negatively impacted by inaccurate advice from social media influencers can submit a complaint to the Consumer Financial Protection Bureau, as stated by Amy Miller, a certified financial counselor and head of America Saves, a program run by the Consumer Federation of America.

Otherwise, here are three key steps to consider:

1. Look for other sources of other information

According to Winnie Sun, co-founder and managing director of Irvine, California-based Sun Group Wealth Partners, it is unlikely to find experienced financial advisors on TikTok compared to other social platforms.

Financial planners must comply with licensing guidelines on the information they share, but it can be challenging to monitor content on platforms like TikTok.

Sun, a CNBC FA Council member, stated that she is not permitted to disclose information on TikTok.

She stated that licensed financial professionals are frequently sharing content on platforms such as LinkedIn, YouTube, and X.

It is essential to have a basic understanding of financial literacy before seeking advice on social media, according to SoFi's Walsh.

To become financially literate, experts recommend looking for online courses, joining financial forums, and subscribing to legitimate publications, as well as utilizing free educational resources offered by organizations such as the Consumer Financial Protection Bureau.

2. Do a background check on the content creator

According to Walsh, the CFP designation is the minimum standard for financial planning.

Check BrokerCheck to see if the content creator has any credentials and if they have any disclosures, which could indicate past misconduct.

3. Verify the advice

It is important to exercise caution when listening to individuals who are not actively in the financial industry or lack accreditation, especially if they promise quick results or speak in absolutes. According to SoFi's Walsh, saving for an emergency, paying off credit card debt, or learning how to invest can take a significant amount of time.

"Get rich quick or overnight sensations are big red flags for me," Walsh stated.

If a product or solution promises to solve all your problems, it's important to be cautious.

Walsh stated that there are "few definitive rules" beyond the fundamentals of spending less than you earn and saving money.

To verify the claims of an influencer, it is recommended to cross-reference their statements with sources such as government regulators and reputable financial professionals and publications. If personalized advice is needed, consulting with a certified financial planner, tax professional, or licensed investment advisor may be beneficial, as suggested by Boneparth.