Fake Online Financial Advice Everyone Should Watch out For!

Financial AdviceApril 26, 2023

Online money tricks and so-called shortcuts are ubiquitous. Every single website and social media page is filled with money advice. For starters, these ‘influencers’ urge the audience to invest their money online.

Things like crypto trading and online share buying are on trend, and every social media influencer does not shy away from recommending investing in all these ‘unrealistic’ online platforms. They make lofty claims of ‘quick earnings’ and fake promises. In turn, this misleads the audience, and they find themselves in grave financial loss.

Ivan / Pexels | Backed by no practical expertise, online financial content is misleading through and through.

Therefore, it is a sensible idea to take every financial advice you find online with a pinch of salt. To do the least, do your proper research prior to following any ‘money trick’ or ‘investment shortcut’ that you find online. Since these ‘influencers’ are not certified professionals, their advice is not credible and reliable.

What are some of the commonest red flags of online financial content, you ask? Well, here are some commonest red flags of online financial content everyone should take with a grain of salt:

Online Financial Advice is Unrealistic

The first red flag of online financial content is that most of them are unrealistic. Out of nowhere, a so-called influencer pops up in your feeds and makes an unrealistic analogy. Based on the analogy, they recommend investing in a random online platform. In its essence, it is not worth it.

Shvets / Pexels | Every financial content that you find online is not realistic. Do not fall into the trap.

So, whenever you hear these online ‘money tricks’ and ‘investing shortcuts,’ take it with a grain of salt. Not every financial content is realistic enough to follow in real life. Unless you are not sure enough, do not follow it.

Social Media Influencers Are Not the Jack of All Trades

Another major issue with online financial content is that the ‘advisors’ are not professionals. They are not certified financial advisors – as they claim to be. So, everything that comes out of their mouths is nothing but a mere Google search. Frankly speaking, calling it ‘research’ is an injustice. Browsing through some online content is all that these influencers do to offer you money advice.

Therefore, before you follow any advice from these ‘influencers,’ get the know their background first. Understand who they are professionally. Ninety-nine times out of a hundred, you will find that these are not certified professionals.

Ron / Pexels | Online influencers are not certified professionals to offer credible advice.

Essentially, you do not take financial advice from a doctor. Nor do you get fitness advice from a lawyer. It takes relevant expertise and professionalism to give out a bit of credible advice. So, do not take the advice of an influencer who is not a professional. After all, influencers are not the jack of all trades. So, better to avoid them for good.

Parting Thoughts

The bottom line is that every ‘money shortcut’ and ‘investing trick’ you find in your feed is not worth following. They are neither credible nor reliable. So, you are better off without them. Take every financial content with a grain of salt before following it.