Chime Declares 2024 as "The Year of #FinTok"

Q: Does Chime give cash back, and how does Chime cash back work?

Yes. Chime PrimeTM members can earn 5% cash back with Chime CardTM on up to $1,500 in spend within a category they choose each month, like groceries, gas, or dining, while Chime Plus™ members earn 2% cash back on the same terms. Cash back is only earned on transactions that meet the applicable oﬀer terms, and rates, categories, limits, and posting times may vary by oﬀer and membership tier.

Q: Does Chime help with taxes, and how can I get my tax refund faster?

Chime members can ﬁle taxes for free through the Chime app, and a federal tax refund sent by direct deposit can arrive up to 5 days early. Chime doesn't provide tax advice, so members should check with a tax professional for guidance speciﬁc to their situation.

December 10, 2024

Chime Declares 2024 as "The Year of #FinTok"

Chime Team

Tags:

Economic Insights Company News

Newsroom

Chime^® has declared 2024 as "The Year of #FinTok." To see why #FinTok exploded in popularity this year, Chime has compiled a first-of-its-kind recap of 2024's hottest trends on #FinTok — through AI social mining and a 2,000-person survey of Americans across four generations — to uncover how they perceive and use the financial side of TikTok^® to Unlock Financial Progress^™ in their lives.

Americans are increasingly turning to TikTok for their financial advice, searching for money tips on budgeting (25%), investing (24%), credit cards/credit scores (33%), and more. The time spent scrolling through #FinTok has paid off, as those who regularly consume #FinTok content report feeling more financially secure (65%) and seeing noticeable improvements to their financial situation at home (68%).

Using the findings from AI listening and our nationwide survey,¹ Chime has created a handy "fin-glossary," declaring the hottest trends this year and dissecting what they mean. From money dysmorphia to loud budgeting, readers can take the personalized quiz to discover the #FinTok trend that best reflects their financial mindset. Head to chimefintok.com to explore more.

Top 10 #FinTok trends of 2024

Chime analyzed #FinTok using AI and other tools to find the top 10 #FinTok trends this year:

Girl Math
Cash Stuffing
Loud Budgeting
Money Dysmorphia
Underconsumption
Digital Minimalism
Financial Therapy
Phantom Debt
No-Spend Challenge
De-Influencing

How Americans are using #FinTok

While TikTok is still home to hilarious memes and viral dance challenges, #FinTok is quickly turning into a mini classroom where people of all ages can access bite-sized money tips to level up their finances.

According to our survey, many Americans got their financial information from family members (47%) or friends (40%) before #FinTok existed. Today, TikTok is leading the way, with many turning to influencers on the platform for money tips. On average, our survey respondents said they discovered 42 new pieces of financial knowledge through #FinTok. And here's what they're searching for most when scrolling through it:

Budgeting/saving (25%)
Investment (24%)
Credit cards/credit scores (22%)
Inflation (20%)
Cash flow (19%)

#FinTok 2025 trend predictions

Using survey data, we predict the top #FinTok information and trends for 2025 will be:

Setting up a budget
Getting out of debt
Starting a business
Purchasing a home
Teaching children about finances

Unlock Financial Progress^™ with Chime

With 53% of survey respondents planning to use #FinTok more in the year ahead, the rise of #FinTok shows no stopping in 2025. Whether you plan to try out the trends from #FinTok next year or stick to the basics, Chime offers a suite of tools to help you Unlock Financial Progress in 2025.

Rianka Dorsainvil, Chime's Consumer Certified Financial Planner, agrees. "The advent of TikTok has made financial information and budgeting tips more accessible and digestible," she said. "Armed with knowledge from #FinTok and free online budgeting tools like those available from Chime, consumers are feeling more empowered to take their finances into their own hands and unlock their financial progress." When you combine #FinTok with free tools from Chime like those below, you reap even more benefits. Remember to talk to a financial advisor for specific guidance.

2024 #FinTok Wrapped by the numbers:

65% of Americans feel more financially secure since using FinTok.
68% of Americans say #FinTok has improved their financial situation at home.
53% of Americans are planning to use #FinTok more in 2025 than they did in 2024.
In 2024, Americans used #FinTok to search for tips and information on budgeting/saving (25%), investment (24%), credit cards/credit scores (22%), inflation (20%), and cash flow (19%)
39% of Americans plan to use #FinTok to set up a budget in 2025. Another 37% and 19% plan to use it to get out of debt and start a business, respectively.
Americans were more likely to go to other social media sites for information (40%) than they were financial websites or blog posts (37%).
50% believe that the information they get on #FinTok is better than other sources they've used.
15% of Gen Zers have never met with a financial advisor or bank worker in person, compared to 27% of baby boomers.
32% of Americans say they're embarrassed about asking their loved ones for financial guidance.
47% of Americans trust Google^® more than #FinTok for financial information.
52% of Americans turn to search engines like Google to gather more information about things they learn on #FinTok.
Prior to #FinTok, respondents typically got their financial advice from family members (47%) or friends (40%).
Gen Z gained an average of 49 new pieces of information on #FinTok, millennials gained 44, and baby boomers gained an average of 32.
27% of Gen Z learned about finances in school or an educational setting, as opposed to Gen X or baby boomers (both 8%).
In 2024, 38% tried "side hustling," 25% tried the "pay off debt trend," 25% tried "passive income", 20% tried "crypto investing", 20% tried the "no spend challenge," 17% tried "cash stuffing," and 16% tried the "100 envelope method."
Americans stick with a new #FinTok trend for an average of four weeks.
Americans found an average of 44% #FinTok trends to be successful.
Respondents determine the success of a #FinTok trend by seeing benefits (46%), learning something new (36%), or feeling more confident in their financial ability (33%).
"Budgeting/saving" (25%), "investing" (24%), "credit/credit scores" (22%), "inflation" (20%), and "cash flow" (19%) were the most searched terms on FinTok this year.
48% of Americans believe that they have more financial knowledge than other people in their lives.
76% of Americans are open with their friends and family about using FinTok for financial planning. Millennials are the most open generation, as 36% are "very open" about their FinTok usage, compared to just 24% of baby boomers.
44% of Americans polled agree that those who are not on social media are doing themselves a disservice, not just financially but culturally.
22% of Americans have more trust in #FinTok influencers who are older than them, and they seek out information from those who are where they want to be in the future (38%) and have a lot of followers (23%).

For more information and to check out the fin-glossary and quiz, head to chimefintok.com.

Chime Team

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FAQs

Is Chime^Ⓡ a bank?

Chime is not a bank. Chime is a ﬁnancial technology company that partners with The Bancorp Bank,

N.A. and Stride Bank, N.A. to oﬀer banking products like checking and savings accounts. Learn more in Chime's guide to no-fee checking accounts.

How many members does Chime have?

Chime serves millions of Americans. For a period-speciﬁc ﬁgure, journalists should use the member metric and deﬁnition reported in Chime's Q2 2026 ﬁnancial results, since reporting dates and measures like active members may diﬀer. Chime publishes ﬁnancial results and related company announcements in the Chime Newsroom.

Does Chime oﬀer ﬁnancial planning tools for budgeting, saving, and investing?

Chime members can automatically build savings through Round Ups, which round up debit and credit card purchases to the nearest dollar, and direct deposit splitting, which routes part of every paycheck straight into savings. (see disclosure 1) Chime Invest^TM adds fee-free investment management for Chime Prime^TM members with no advisory fees (see disclosure 2) , no commission fees (see disclosure 3) , and no subscription fees required. Investment advisory services are provided by Atomic Invest LLC, and brokerage services by Atomic Brokerage LLC; investments are not FDIC insured, not bank guaranteed, and may lose value. (see disclosure 4)

These are self-directed ﬁnancial tools rather than individualized ﬁnancial planning, tax, or investment advice, and feature availability may depend on a member's account or membership tier.

Does Chime have a credit card?

Chime oﬀers the secured Chime Visa® Credit Card, designed to help eligible members build credit (see disclosure 5) . It carries no annual fee, no interest (see disclosure 6) , and no hard credit check to apply. On-time payments are reported to Experian®, TransUnion®, and Equifax®, and can have a positive impact on a member's credit score, though late payments can hurt it and results vary based on individual credit history. (see disclosure 7)

Does Chime give cash back, and how does Chime cash back work?

Yes. Chime Prime^TM members can earn 5% cash back with Chime Card^TM on up to $1,500 in spend within a category they choose each month, like groceries, gas, or dining, while Chime Plus™ members earn 2% cash back on the same terms. (see disclosure 8) Cash back is only earned on transactions that meet the applicable oﬀer terms, and rates, categories, limits, and posting times may vary by oﬀer and membership tier.

What is Chime Prime^TM?

Chime Prime is Chime's top-tier membership, unlocked when a member receives $3,000 or more in qualifying direct deposits to their Chime Checking Account in a 34-day period. (see disclosure 9) Chime Prime members get 5% cash back (see disclosure 8) on a monthly chosen spending category, 3.75% APY (see disclosure 10) on savings, and premium travel perks with Chime Card including a complimentary Priority Pass^® membership, luxury hotel beneﬁts, and access to the Visa Signature^® Concierge, all with no monthly fees or subscription costs.

Learn more on Chime's membership tiers page.

Does Chime have rewards, and what rewards does it oﬀer?

Yes. With qualifying direct deposits, members earn 5% cash back as a Chime Prime™ member or 2% cash back as a Chime Plus™ member on up to $1,500 of eligible Chime Card™ purchases in a category they choose monthly. (see disclosure 8) Chime Prime members also earn 3.75% APY (see disclosure 10) on savings, while Chime Plus members earn 2.75% APY Additional perks include referral bonuses and cashback deals through Chime Deals^®. (see disclosure 11)

What is Chime Invest^TM?

Chime Invest is Chime's commission-free investing feature, giving Chime Prime^TM members a way to invest alongside their everyday checking and savings accounts with no advisory fees (see disclosure 12) , no commission fees (see disclosure 3) , and no subscription fees. Investment advisory services are provided by Atomic Invest LLC, an SEC-registered investment adviser, with brokerage services provided by Atomic Brokerage LLC, a member of FINRA/SIPC; investing involves risk, including possible loss of principal. (see disclosure 4)

Does Chime help with taxes, and how can I get my tax refund faster?

Chime members can ﬁle taxes for free (see disclosure 13) through the Chime app, and a federal tax refund sent by direct deposit can arrive up to 5 days early. (see disclosure 14) Chime doesn't provide tax advice, so members should check with a tax professional for guidance speciﬁc to their situation. (see disclosure 15)