In the video Jones saw, Victoria lays out a three-step plan in 30 seconds: open a brokerage account, deposit the money and invest that money in ETFs.
The second is to take advantage of whatever audio is going viral on TikTok at the time. Part of the way TikTok’s algorithm works is that it weighs users’ behaviour on the app. If a person, for example, engages with a lot of dance videos that use audio from rapper Pop Smoke’s “Candy Shop” remix, a personal finance video that also uses that audio could pop up on their For You page.
Victoria later said her social media manager took down the video about how to invest $1,000 because it could potentially be misconstrued as giving advice. Relying on generic advice when personal finance is supposed to be, well, personal is a drawback, but not one unique to TikTok.Oriana Gomez, a 23-year-old barista at an upscale Italian cafe in Toronto, heeds that message. TikTok, for her, became one of the many tools in her arsenal she uses to achieve financial security.Article content continued