Almost Two Million UK Consumers Take Financial Advice from Influencers Without Checking Their Credentials
· 14% of UK consumers (7.7 million people) have followed influencer financial advice, with a quarter not checking qualifications
· 29% of Gen Z (aged 18-24) follow influencer advice, yet 32% fail to check credentials
· 15% of young adults say influencer advice harmed their credit, caused losses or led to scams
Millions of UK consumers are turning to social media influencers for financial guidance without checking their credentials, potentially putting their credit health at risk, according to new researchi commissioned by TransUnion.
The survey found that 14% of consumers, around 7.7 million peopleii, have taken financial advice from a social media personality or online influencer with a quarter (25%) of these consumers, approximately 1.9 million peopleiii, admitting they did not check whether the influencer had any formal financial qualifications or credentials before acting on the advice.
Among Gen Z consumers (aged 18-24), the use of financial influences rises sharply to 29% – roughly 1.4 million young peopleiv with almost a third (32%) of 18-24 year olds admitting they did not check the influencers qualifications before acting on the advice.
While some younger consumers reported benefits, the findings underline clear risks. Among 18-24 year olds who followed influencer advice, 39% said they gained useful financial knowledge and 31% said it helped them choose a good credit or financial product. However, 15% said following financial influencer advice negatively affected their credit score, led to financial losses or resulted in them being scammed. The latter should be of particular concern, as scams (23%) and synthetic identity fraud (23%) are now leading cause of losses according to TransUnion’s 2025 Global Fraud Trends Report.
The findings also suggest that families have an opportunity to have more conversations at home with their children about the financial content they see online. Currently, 24% of consumers say they encourage their children to fact-check influencers’ financial claims.
Madhu Kejriwal, chief executive officer of TransUnion UK and Europe commented: “Social media can be a powerful source of information and it’s great to see younger generations engaging with easily accessible financial content and the positive impact this can have on their financial awareness. However, it is important to remember that popularity does not always equate to financial expertise. Consumers may be acting on advice that may be well-intentioned but unqualified and without fully understanding how certain decisions can affect their financial standing.
“People should work on building a healthy credit report and checking it regularly to build a good understanding of how their financial choices could impact their credit report and score. Our advice: Enjoy the content but always verify it with trusted sources. Evidence-based guidance, grounded in a clear view of someone’s credit data, is far more reliable than just anecdotal tips shared online.”
James O'Donnell, TransUnion's director of research and consulting also reflected on the immediate and real impact of bad advice on consumers: "I have great respect for the level of awareness and education the financial influencer community brings to the general population, but we should all be reminded that bad advice can have catastrophic impacts for consumers who don't know better. Globally, we are currently seeing real examples of this, with many US consumers currently facing legal repercussions after following TikToker advicev. UK authorities are also battling similar risks, with a number of influencers scheduled to face court in 2027 on illegal financial promotions related to direct consumer lossesvi.”
TransUnion’s tips for young people considering using finfluencers for guidance:
- Verify influencer advice before acting: Cross-check tips against trusted financial bodies, like the Financial Conduct Authority, or a financial adviser you know has the appropriate qualifications. We encourage young people to validate influencer guidance against reliable sources to help ensure decisions are grounded in facts.
- Understand your own financial data: Advice is only useful when it aligns with your financial profile. Ensure you have signed up to at least one credit reference agency platform and start building a credit file. You can request a copy of your statutory TransUnion credit report for free through the TransUnion website, or access it for free via Credit Karma, MoneySuperMarket Credit Monitor, or TotallyMoney and a wide variety of banking apps, including NatWest, Lloyds, Monzo and Halifax.
- Focus on building strong financial habits, not chasing quick wins: Viral financial “hacks” can be tempting, but lasting habits, like paying bills on time, budgeting effectively, and keeping an eye on your credit score, have a much greater impact on long-term financial wellbeing.
“Building and protecting good credit doesn’t rely on shortcuts or viral trends,” added Madhu Kejriwal. “It’s about consistent behaviours, such as paying bills on time, managing credit balances and understanding how financial decisions show up on your credit report. As we continue into 2026, consumers who base their plans on trusted data and credible guidance will be better placed to improve their financial wellbeing.
Notes:
The information in this release is intended for journalists and media professionals only. The information should not be construed as a financial promotion under the Financial Conduct Authority's (FCA) Handbook of rules and Guidance.
Unless otherwise stated, all figures are from a nationally representative sample of 2,000 UK adults aged 18+. The survey was commissioned by TransUnion and conducted in December 2025 by OnePoll.
i Based on latest ONS UK population estimate of 69,487,000, with 55,653,768 over 18 (November 2025): Population estimates - Office for National Statistics
ii Based on latest ONS UK population estimate of 69,487,000, with 55,653,768 over 18 (November 2025): Population estimates - Office for National Statistics
iii Based on latest ONS UK population estimate of 55,653,768 over 18 (November 2025): Population estimates - Office for National Statistics - 25% of the estimated 7.7M is 1.9M
iv Based on latest ONS 18-24 year old population estimate of 5,842,000 (January 2026) 18-24 year old population: All persons: 000s - Office for National Statistics
v Reuters - JPMorgan sues customers over check fraud linked to glitch that went viral | Reuters
vi FCA - First court appearance for three ‘finfluencers’ charged in FCA-led global crackdown on illegal promotions | FCA
