The Blog

Gathering Diverse Perspectives on Finance: How One Millennial Navigates the Sea of Information

By Sarah Penney, Millennial Money Writer 

Where we source our news has undergone a significant shift over the past few decades. YouGov illustrates the go-to news sources for people in the UK, charting how this has changed over time. National TV is the most popular choice, followed by news websites and social media. However, within the 25-49 age group, there’s a noticeable shift, with 46% relying on news websites and 37% turning to social media as their main information source. 

This trend is corroborated by Ofcom’s 2023 news consumption report, which highlights how social media is luring younger generations away from more traditional news outlets. 

As a young millennial who spends too much time on social media, I belong to the group that predominantly consumes news through these platforms. Personally, I find it enriching— social media introduces me to diverse news sources that I might not have sought out independently. 

I try to work with the algorithm to find news sources that offer interesting perspectives and help me with financial decision-making. 

Over the years I’ve managed to curate my Twitter feed to focus on business and financial news. Following journalists and organisations writing on these topics means my timeline is full of varied insights, leading me to read articles from multiple different news sources. 

And now that I’m starting my own investment journey, this tailored feed has proven invaluable. 

For years I was hesitant about taking the step to start investing, due to a lack of substantial savings and confidence. However, receiving a small inheritance motivated me to take the plunge into the world of investment. While I’m yet to see if this will pay off financially, it’s already paid off in terms of opening new areas of interest and encouraging me to diversify the news I consume.  

I think this is an experience shared by many people of my generation. It’s certainly something many of my friends are now turning their attention to, and considering projections that millennials are set to become the wealthiest generation in the coming years (due to impending inheritances), I thought I might share some of the information sources that have helped me in expanding my knowledge. 

Social Media 

While my Twitter feed is dominated by business and financial news, I spend more of my time on Instagram, and have been trying to transition this platform to deliver similarly helpful content.  

I’ve found a number of great financial influencers (‘finfluencers’) on Instagram, and they’ve been key to helping me boost my knowledge and to make better informed decisions about my portfolio.  

The spectrum of finfluencers is broad, and while I was initially attracted to accounts aimed at a female audience and on a mission to close the gender investment gap, I quickly found that I needed more variety. Many accounts aimed at women hit the mark in terms of offering content that stretches me and teaches me something new, however I think some misjudge the level of existing knowledge many women have. 

Having spent some time searching for the right finfluencers, here are some of my standouts: 

• Gofundyourself

  This is one of my favourites! I love how input from the audience drives conversation. I’ve had some great discussions with friends about pre-nuptial agreements and salary disparity in couples off the back of this account. 

• Girl that invests

  An example of an account aimed at women that offers more advanced, in-depth, insights and market updates. 

• Making Money Simple

  Run by an accountant and experienced investor, this page offers personal portfolio insights and tips for navigating things like tax in an accessible manner. 

• Claer Barrett

  FT columnist and regular on daytime TV and radio, she offers warm and informative personal finance insights, easily accessible to all. Plus, she gives free access to some of her articles to those quickest to click! 

• Female Invest

  Focuses on empowering women to invest, I believe the meaty content is saved for their paid members (totally fair enough!), as their social media content tends more towards more motivational quotes than in-depth insights. 

• Your Juno

  Aims to enhance financial literacy for women, I believe more beneficial for those in the initial stages of personal financial management. 

• Gary’s Economics

  A former trader and economist, he relates complex economic topics to our everyday lives. He’s particularly skilled at enticing those not traditionally interested in financial matters.  

These influencers, among many others, can serve as valuable resources. 

Newsletters 

As someone who likes to get their news in quick, bitesized pieces, newsletters are a go-to for me. My preferred newsletters include: 

• Morning Brew

  US market updates and breaking news with a conversational approach, and always with an off the wall story that you’re not likely to get elsewhere. 

• Snacks

  The newsletter from Robinhood. Like Morning Brew, giving brief market insights impacting US markets. 

• Bloomberg Tech

  I’m fascinated by the tech sector, and this newsletter offers a comprehensive overview of daily tech stories. I find Bloomberg’s writing advanced but accessible, so I normally read a few of the articles highlighted in this newsletter.  

Blogs 

While social media directs me to many mainstream publications to keep up with current news, blogs are my go-to for practical information, especially investment research. Notable blogs that have aided my journey include: 

• Boring Money

  Offers clear and concise financial information and product comparisons. 

• Money Magpie

  Provides straightforward guides on tax-efficient investing and stocks, catering to both novice and seasoned investors. 

Friends and family 

When thinking about this article, I realised that while it’s important to make investment decisions based on information from qualified sources, I’ve also found having conversations with friends and family one of the most eye-opening ways to think about my portfolio. 

I love asking friends and family about their views on various cryptocurrencies and stocks – and while we don’t always agree, I always learn something new, or uncover new opportunities to dig into.  

I encourage everyone to do the same! 

In conclusion 

We have incredible access to resources to help us make informed financial decisions, social media in particular, is a treasure trove of interesting insight, analysis and conversation. While we must exercise caution about who we allow ourselves to be influenced by, gathering a diversity of thought and perspective via social media is a great way to develop financial literacy.  

Informing myself and keeping up to date with business and market news over the last few months has helped me to think more carefully about my portfolio and make more informed decisions, but it has also helped me to have more informed conversations with others. 

Continuously learning and understanding diverse perspectives has bolstered my confidence in managing my investments, no matter how modest they may be 😄. 

Sarah Penney is TEA’s Millennial Money Writer, covering personal finance and investing from the perspective of a young millennial building a career, travelling the world and navigating the world of investing. She explores subjects that promote understanding of markets, investment trends, and macroeconomics, through her lense. 

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