Meet the next generation of financial advisors: kids and young adults!

Every year, millions of people move to the U.S. and Canada, all chasing the promise of the American or Canadian dream—of social and economic success. But the journey is far from easy.
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Immigrants to both countries face a multitude of challenges. Language barriers hamper access to jobs, essential services and community integration. Professionals like doctors and engineers experience delayed entry to their fields as their foreign credentials are unrecognized. High housing costs, especially in urban areas, make securing stable accommodation difficult.

Add to this the weight of discrimination and racism, which often compounds these struggles, while complex legal and immigration systems slow the process of integration. Access to healthcare is another uphill battle, particularly those without permanent status or employment benefits, leaving them vulnerable to healthcare they can’t afford.

The foundation of the dream: financial literacy and banking
At the core of economic success are two crucial elements: financial literacy and access to banking services. However, these are often among the biggest obstacles for immigrants. Many have little or no understanding of North American financial systems and face challenges with basic services like opening a bank account, securing loans or building credit.

To make things harder, a deep mistrust of financial institutions and insufficient documentation force many to rely on expensive alternatives, such as payday lenders and check-cashing services. It becomes a cycle of financial instability, trapping people on the margins of our economy.

Financial literacy isn’t just an immigrant issue—it’s a widespread problem. FINRA’s annual national survey finds, consistently, that only about 50% of U.S. adults are financially literate. For marginalized communities, the situation is even more severe, the outcomes of which are poor financial decision-making and worse economic outcomes. 
Kids: the new financial ambassadors

Enter the new generation of financial ambassadors—kids. In many marginalized families, children are stepping up to close the financial literacy gap for their parents. With better access to education, technology and greater language proficiency, these young "financial ambassadors" are navigating financial systems with a skill set their parents often lack. In many cases, they’re the ones managing the household finances. 

Social media plays a pivotal role in this shift. Platforms like TikTok have become go-to sources for financial education for young adults, from Gen A to Gen Z and Millennials. From budgeting to investing, kids and young adults are learning about money and passing that knowledge on to their families. In effect, they are the bridge between their families and the broader financial system, helping their households manage money with confidence.

If it looks too good to be true
Despite the popularity of TikTok, YouTube and other platforms for financial education, it's important to recognize the risks. These platforms are unregulated, and influencers are not fiduciaries. A recent report by Edelman Financial Engines found that 27% of social media users have fallen for financial advice or information that turned out to be false or misleading. Even more concerning, 20% of users fell for misleading content multiple times. And according to the CFA Institute, Gen Z is the most misled.

TikTok’s #fintok has over 117,000 posts

We saw it coming
At Currency Marketing, we’ve been working with credit unions across North America for nearly a decade, helping kids and young adults improve their financial literacy. We saw early on that the best time to learn about money is when you’re young, and the best way to teach kids is by making it fun. 

That’s why we created It’s a Money Thing, a library of animated videos and digital content that make financial education engaging and enjoyable. Whether online or offline, through credit union websites, classrooms or community centers, It's a Money Thing is designed to meet young people where they are, helping them build essential money management skills through humorous and relatable storytelling.

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