Money talk is becoming more popular on TikTok including "girl math" videos that explain the logic behind financial decisions ranging from daily coffee purchases to dropping thousands on Taylor Swift tickets. Financial advisors say the videos can actually encourage people to be transparent about how they make spending decisions.
According to a report from Mercer Canada, millennials who rent for their entire careers will have to set aside eight times their salary to save enough to retire at 68 years old.
In 2020, Jonathan Atwin and his partner jumped on the personal finance wagon, teaching themselves all about money and how to manage it better. “At the time, we were carrying some debt, so we wanted to try to tackle that,” said Atwin.
A growing group of young Canadians are relying on self teaching when it comes to personal finance, in the absence of financial literacy being taught in their schools and households and with the rise in personal finance content being shared online.