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Citizens Advice and TikTok launch financial education series

Citizens Advice and TikTok launch financial education series

Social media platform TikTok is creating a video series about financial literacy to help users make informed decisions and understand financial jargon.

The platform has teamed up with Citizens Advice to roll out videos which focus on how to make informed financial decisions, getting the most out of research and understanding financial terminology.

The content will also look to educate users on handling their finances and spotting financial misinformation online.

TikTok said it launched the videos as more people are looking to get information on their finances online.

It said wanted to help users become confident and alert to financial misinformation, as well as how they can access the right support and advice.

As part of the series, chief executive officer and Dragons’ Den judge, Tej Lalvani, has explained jargon, while Emmy Dent, an independent mortgage broker, shows people how to make the most of research and understand the different options available.

Jessica Abelscroft, director of communications and engagement at Citizens Advice, said: "At Citizens Advice we offer free, confidential and impartial advice to millions of people every year - whoever they are and whatever their problem.

"We’re pleased to be working with TikTok to help people make informed financial decisions. It's an important part of our wider financial and scams awareness work, as well as reaching new audiences on TikTok who we know could benefit from timely, practical and tactical advice."

Individuals have been warned about taking financial information from TikTok recently as there can be misleading information which can catch out younger savers.

The Financial Conduct Authority has also voiced concern over young people looking for investments online.

amy.austin@ft.com

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