Financial advice from Twitter? On the face of it, the idea may sound a little odd, to say the least! After all, most people associate the popular micro-blogging site with hashtagged celebrity feuds, endlessly re-tweeted jokes, and the self-indulgent utterances of a wide variety of people from all over the web. Few would seriously consider it as their first port of call if they were in need of reliable advice about their credit rating or making plans for their retirement. But could you be missing a trick by underrating the usefulness of Twitter?
Twitter has a reputation – some would go so far as to say it was a well-deserved reputation – for frivolity. Despite its enduring popularity, not only with the individuals who use it for social chit-chat, but also with the ever-increasing number of businesses who use it as an integral part of their marketing strategy, it is often described as a pointless form of social media. However, like many other social media sites including Facebook and Pinterest, Twitter can be as serious or as light hearted a source as you choose to make it. If you organise your account well, it has almost unlimited scope to be both a social tool for fun, chat and connecting to like-minded people around the world, and also a valuable resource that can keep you up to date with the latest financial news and views, as well as a source of informed and intelligent financial advice.
The secret to getting the most out of Twitter, as with getting the most out of your finances, is planning and organisation. Surprisingly, a great number Twitter aficionados do not bother with Twitter’s handy Lists feature, and in a few cases may even be completely unaware of its existence! Lists can help Twitter users to organise the tweets of the people and businesses that they follow into subcategories. For example, you may wish to create a List of tweeters whom you know in real life or a list of fashion retailers whom you follow. These subcategories can then be read individually, without the need to scroll through the tweets of every single account that you follow. Therefore, if you are interested in keeping up to date with the latest financial news and advice, you might create a list of financial experts, such as @ExperianExperts, news services such as the Daily Mail’s @ThisIsMoney or the Twitter accounts of relevant TV or radio shows, such as @BBCOnTheMoney that provide the kind of information you wish to read.
Taking a few minutes to follow Twitter accounts that provide a reliable source of financial news, information and advice and adding those accounts to a special List you have created exclusively for financial topics provides you with a constantly updated stream, which can enhance your financial savvy and help you inform yourself on any money-related issues. It can even provide a few points of contact should you ever require expert help with any questions you might have about your finances.