[New post] The Dark Side of TikTok – Financial Advice?

SupremeCmdr posted: " The TikToker touting "generational wealth" isn't alone in promoting the benefits of slapping a child's name onto credit card debts. TikTok is flooded with influencers who insist that authorizing minors to use their parents or older relatives' credit car" lifeunderwriter.net The Dark Side of TikTok – Financial Advice? SupremeCmdr Oct 21 The TikToker touting "generational wealth" isn't alone in promoting the benefits of slapping a child's name onto credit card debts. TikTok is flooded with influencers who insist that authorizing minors to use their parents or older relatives' credit cards will set them up for a bright future. Many of the videos uploaded to the platform are captioned with the hashtag #generationalwealth and suggest that the authorized credit card user trick is a secret hack used by the wealthy. 'Generational wealth' influencers are touting the benefits of parents adding their kids to credit card debt—but experts warn it could go badly wrong -- https://fortune.com/2023/10/21/building-generational-wealth-parents-children-credit-card-debt/ Parents, don't do this. TikTok should not be your source for financial advice. Instead teach your children to save and invest, to live within their means, to understand the difference between needs and wants, to not become an indentured servant to the banking industry. Comment Like You can also reply to this email to leave a comment. Manage your email settings or unsubscribe. Trouble clicking? Copy and paste this URL into your browser: http://lifeunderwriter.net/2023/10/21/the-dark-side-of-tiktok-financial-advice/

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