Financial influencers: How to know if I can trust?

Can I trust the financial information disclosed by influencers?

As part of Financial Education Week, the Portuguese Psychologists Association (OPP) shared a document aimed at helping recognize if one is being influenced by unreliable information from influencers or not.

According to a statement released on Notícias ao Minuto, the document explains: "Social networks have become a common source of financial information, but not all recommendations are credible or suitable for our needs. It is important to be alert to warning signs and reflect before following financial advice, especially from influencers without proper training."

"Before following a financial influencer or taking any of their financial advice, reflect and answer the following questions [listed in the document], checking 'yes' whenever the answer to the statements is 'yes'."

The Order explains that the purpose is to "help recognize if you are being influenced by unreliable information". "If you feel anxious, insecure, or worried about your finances, remember that you can seek professional help. A psychologist can help!", warns.

Access the document in question here.

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