Technology
MoneySmart Study: Social Media Drives Financial Decisions Across Singapore and Hong Kong SAR
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1 year agoon
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A new study by MoneySmart finds that over half (52%) of adults living in Hong Kong SAR and Singapore now turn to social media as their primary source of financial advice, with YouTube emerging as the most popular platform.The study explored the growing role of social media in shaping financial decisions, with a focus on how it influences decisions around investing, saving, and spending.Nearly three in five (63%) now seek investment advice from social media, showing the platform’s growing role in guiding investment decisions.
SINGAPORE, Jan. 15, 2025 /PRNewswire/ — A newly released study by leading personal finance portal MoneySmart reveals that social media has become a dominant source of financial information, influencing key decisions around investments, savings and spending habits.
The study, which interviewed 2,000 adults in Hong Kong SAR and Singapore, found that more than half (52%) now rely on social media as their main source of financial advice, trumping the likes of family and friends, financial advisors, and personal finance books. Platforms such as YouTube, Instagram and Facebook emerged as the most popular for accessing financial insights.
Nearly half (43%) of those surveyed believe social media has improved their financial knowledge, with 19% using it daily to seek financial tips and advice. According to the study, Millennials are the generation most frequently turning to social media for financial advice, with 53% seeking information at least weekly.
The most popular topics across all age groups include investing (59%), saving (57%) and budgeting (34%).
Social media is shaping our financial behaviour and investments
In today’s digital age, financial information is more accessible than ever, with social media empowering individuals to take a more proactive approach to managing their finances. Nearly a quarter (23%) have changed their spending habits due to social media, with 30% starting a budget, 16% initiating an emergency fund and 11% increasing their retirement savings contributions.
Interestingly, regional preferences emerged, highlighting unique usage patterns in Singapore and Hong Kong SAR. YouTube stands out as the most popular platform for financial advice in both markets, reflecting the possible appeal for video-based learning. However, platform preferences diverge beyond YouTube, with TikTok gaining popularity in Singapore as a hub for short-form financial content, while Whatsapp and LIHKG forums resonate more with Hong Kongers for community-driven discussions.
This diversity in platform usage underscores the importance of adopting tailored strategies to engage and educate consumers effectively across different markets.
Beyond habit shifts, social media is also encouraging Singaporean and Hong Kong SAR adults to make substantial financial decisions. Nearly a quarter (24%) have opened a savings account, while 18% have applied for a financial product such as a credit card or loan due to social media advice.
Investments, in particular, were heavily influenced by social media, with 37% of respondents making investments based on advice seen online, with popular choices including US stocks (45%), bonds (24%), etc. This illustrates how recommendations on social media are actively shaping financial behaviour and underscores the importance of ensuring that consumers are equipped with the skills needed to assess the credibility of financial advice online.
The financial risks of social media
While social media provides broader access to financial information, the study reveals significant risks tied to unverified advice.
Alarmingly, almost 1 in 5 (18%) respondents lost money on investments influenced by online advice, and a further 14% fell victim to financial scams after following social media recommendations. Among those who followed social media advice, 9% reported substantial financial losses. These findings underscore the serious consequences of following poor or even malicious financial advice on social media, with many suffering direct financial losses that could have a lasting impact on their overall financial security.
Adding to these concerns, 70% of respondents encounter financial advice passively through their social media feeds, suggesting that they may be influenced by financial content even when they’re not actively seeking it.
Additionally, a number (12%) of respondents reported feeling more confused or overwhelmed by the sheer volume of financial information on social media, highlighting the need for better guidance. These findings emphasise the real dangers of unverified advice and the critical importance of seeking reliable financial guidance from trusted sources.
Abel Lee, General Manager at MoneySmart Singapore and Hong Kong commented, “Our study reveals a significant shift in how consumers approach financial advice, with social media now taking the lead over traditional sources. While it’s encouraging to see more individuals engaging with their finances, it’s crucial to ensure the credibility and accuracy of the information they rely on. At MoneySmart, we go beyond just connecting consumers to personal finance products through our marketplace. With resources like our blog and licensed insurance specialists, we are committed to providing well-researched advice and practical guidance to help people make sound financial decisions — whether it’s investing, saving, budgeting, choosing the right credit card or loan, or selecting an insurance plan.”
“While social media has made financial advice more accessible, it also comes with risks from unverified sources. In a landscape where unverified advice is prevalent, our focus is to empower individuals with the tools, trusted guidance, and personalised recommendations they need to make informed decisions that lead to positive outcomes,” said Lee.
How to spot poor financial advice and make smarter investment decisions
As financial hubs, Hong Kong SAR and Singapore face shared challenges and opportunities when navigating financial advice on social media. Insights from industry experts in both markets, including Ethel Yow, APAC & ME Social Media and Content Manager at IG Markets and Joe Yu, Chief Marketing Officer at Futu Securities, provide actionable tips to help consumers make informed decisions while avoiding common pitfalls.
Be cautious of bold claims
Ethel and Joe advise being wary of financial advice that promises guaranteed returns or “risk-free” investments, often framed as clickbait such as “100% win rate strategy” or “How to become a profitable trader.” Sensational headlines are designed to attract attention, but credible sources will offer balanced insights about both potential returns and risks.Verify the information
Social media is largely unregulated, meaning anyone can post financial content regardless of expertise. Ethel recommends cross-checking advice with reputable financial news outlets, official company reports, and licensed financial advisers, while Joe suggests a three-pronged approach: verify the source, consult multiple sources and assess the information’s timeliness. Seeking professional advice and carefully evaluating risks are essential steps before making significant financial decisions.Understand the risks
Social media offers real-time market sentiment and a variety of investment ideas, which can broaden perspectives. However, Joe warns that emotional triggers like FOMO (fear of missing out) can lead to impulsive decisions that often do not align with sound financial planning.Balance short-term excitement with long-term goals
To avoid focusing solely on short-term returns, limit speculative investments to a small portion of your portfolio while balancing them with more stable assets like index funds or bonds. Both experts recommend setting clear financial goals, creating a budget, diversifying investments and regularly reviewing your portfolio to maintain long-term financial stability.Do your own research and use trusted platforms
Independent research is critical to understanding the risks, potential returns, and suitability of an investment. Joe emphasises the importance of choosing regulated brokerages, such as those licensed by the SFC in Hong Kong, for secure and transparent transactions. Trusted platforms offer reliable tools and resources that support informed investment decisions.Stay alert to scams and avoid herd mentality
Both Ethel and Joe highlight the risks of scams impersonating legitimate entities, such as investment platforms or financial influencers. Always verify the authenticity of information and social media links before acting. Avoid blindly following trends without assessing risks, as impulsive decisions can lead to significant losses.
For more advice on making informed financial decisions, including investing, and to explore the full findings of the study, please visit:
Hong Kong SAR (EN):
https://www.moneysmart.hk/en/online-brokerage/social-medias-influence-on-financial-decisions-ms
Hong Kong SAR (ZH):
https://www.moneysmart.hk/zh-hk/online-brokerage/social-medias-influence-on-financial-decisions-ms
Singapore:
https://www.moneysmart.sg/online-brokerage/social-medias-influence-on-financial-decisions-ms
-ENDS-
For all media enquiries, please contact:
Jasmine Hong
Communications Manager, MoneySmart Group
jasmine.hong@moneysmart.com
Survey Methodology
Research conducted on behalf of MoneySmart by Savanta among 2,000 Singaporean and Hong Kong SAR adults (aged 18+). The survey was carried out online between 2 – 7 October 2024.
About MoneySmart Group
MoneySmart Group is a leading personal finance group in Southeast Asia, encompassing two dynamic brands: MoneySmart and Bubblegum. Bringing together these brands to offer a comprehensive range of financial products, knowledge and advice, MoneySmart Group is dedicated to empowering consumers with clarity, confidence and control over their financial future.
MoneySmart serves as a financial marketplace and content platform for consumers to make informed decisions across a variety of banking, insurance and investment products. We do the hard work of compiling the information and sharing advice to make it easy for you to understand, compare and choose the best personal finance products for you. Our SmartRewards programme also enables customers to earn points on transactions that can be redeemed for rewards.
Under our Bubblegum brand, we create desirable insurance products and experiences, aiming to become the leading digital insurtech brand of the future.
For more information, please visit www.moneysmart.com.
View original content:https://www.prnewswire.com/apac/news-releases/moneysmart-study-social-media-drives-financial-decisions-across-singapore-and-hong-kong-sar-302350141.html
SOURCE MoneySmart
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Technology
Best Accounting Software for Medium-Sized Business UK (2026): QuickBooks Advanced Recognised as a Scalable Finance Platform for UK Mid-Market Businesses by Consumer365
Published
22 hours agoon
May 9, 2026By
NEW YORK, May 9, 2026 /PRNewswire/ — As demand for scalable financial tools grows, attention is shifting towards the best accounting software for medium-sized businesses in the UK in 2026, as organisations face increasingly complex accounting requirements. Consumer365 has recognised QuickBooks as a cloud-based platform supporting more structured financial management, reflecting a wider focus on improving automation, visibility, and compliance readiness.
Best Accounting Software for Medium-Sized Business UK
QuickBooks – developed as a cloud-based accounting platform, it enables medium-sized businesses to manage financial operations, automate core accounting processes, and maintain compliance with UK regulatory requirements.
Growing Demand for Scalable Financial Systems in the UK Mid-Market
Medium-sized businesses in the UK are operating in an environment where financial management is becoming increasingly complex. Growth introduces additional reporting layers, heightened regulatory expectations, and the need for consistent financial oversight across departments.
Traditional accounting methods are often no longer sufficient under these conditions. Spreadsheet-based systems and entry-level tools can struggle to deliver accurate, timely insights. This creates visibility gaps that can impact planning and decision-making.
QuickBooks has been identified within this context as a platform designed to support more structured financial management. Its positioning reflects a broader shift towards systems that centralise financial data and reduce fragmentation across business operations.
QuickBooks Positioned as a Scalable Financial Platform
QuickBooks operates as a cloud-based accounting system developed by Intuit. It is designed to support businesses that require more than basic bookkeeping functionality, focusing on helping organisations manage financial processes in a more connected and scalable way.
A key aspect of its design is the ability to consolidate financial information within a single system. This allows businesses to manage invoicing, expenses, reporting, and cash flow tracking without relying on multiple disconnected tools.
The platform is also structured to support growth. As businesses expand, financial operations often become more distributed across teams. QuickBooks enables multiple users to work within the same system while maintaining structured access controls, helping ensure consistency and oversight as complexity increases.
Financial Visibility, Automation, and Operational Control
One of the central functions of QuickBooks is improving financial visibility across business operations. Real-time data access allows organisations to monitor cash flow, expenses, and overall financial performance without waiting for end-of-period reporting cycles.
Automation plays a significant role in reducing manual workload. Financial processes such as invoicing, transaction categorisation, and expense tracking can be streamlined, reducing reliance on repetitive manual input and supporting more consistent financial records.
Operational control is reinforced through structured user permissions. Businesses can assign access levels based on roles, ensuring financial data is managed securely while still enabling collaboration across departments. This structure is particularly relevant for medium-sized organisations where multiple teams interact with financial systems.
Integration, Compliance, and System Connectivity
QuickBooks is designed to integrate with a range of business tools commonly used by UK organisations. These include payroll systems, customer relationship management platforms, and other operational software. This level of connectivity helps ensure that financial data remains consistent across systems.
Compliance is also a core part of the platform’s structure. UK businesses must meet specific regulatory requirements, including VAT reporting and Making Tax Digital standards. QuickBooks includes features that support these obligations within the system, reducing the need for manual compliance processes.
By aligning financial reporting with regulatory standards, the platform helps organisations maintain accurate records while reducing the administrative burden associated with tax and compliance requirements.
Operational Impact and Long-Term Financial Structure
As businesses grow, financial systems often become central to overall operational structure. Decisions related to hiring, investment, and expansion rely on access to accurate and timely financial data. Systems that lack integration or real-time visibility can slow decision-making and introduce inefficiencies.
QuickBooks supports a more structured approach by centralising financial information. This reduces fragmentation and helps ensure consistency across the organisation. It also supports continuity, minimising the need for frequent system changes as businesses scale.
The platform is designed to adapt to increasing complexity over time. As transaction volumes grow and reporting requirements expand, it remains stable while accommodating additional users and workflows.
This approach aligns with the needs of medium-sized businesses transitioning from smaller-scale operations to more advanced financial environments.
Market Context and Financial Management Trends
The recognition of QuickBooks reflects broader developments in financial technology adoption among UK medium-sized businesses. Organisations are increasingly prioritising systems that improve efficiency while reducing operational complexity.
Financial management is no longer limited to recordkeeping. It has become a core business function that influences strategic planning and overall performance. As a result, platforms that provide integrated financial oversight are becoming more relevant across a wide range of industries.
QuickBooks fits within this shift by offering a system that combines core accounting functionality with workflow automation and reporting capabilities. This supports businesses that require both day-to-day financial management and longer-term planning tools.
The emphasis on scalability also reflects changing expectations in the mid-market sector. Businesses are seeking platforms that can grow with them, rather than systems that need to be replaced as operational requirements evolve.
Conclusion
Consumer365 has recognised QuickBooks as a relevant financial platform for medium-sized businesses operating in the UK in 2026. The recognition highlights its focus on scalability, financial visibility, and structured operational control.
The platform is positioned to support organisations as they move beyond basic accounting systems and adopt more integrated financial management structures. Its emphasis on automation, compliance support, and system connectivity aligns with the operational needs of growing businesses.
As financial complexity continues to increase across the mid-market sector, tools that centralise financial data and support real-time decision-making are becoming more widely adopted. QuickBooks represents one of the platforms contributing to this shift towards more structured financial management approaches.
To read the full review, please visit the Consumer365 website.
About Intuit
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.
About Consumer365.org: Consumer365 provides consumer news and industry insights. As an affiliate, Consumer365 may earn commissions from sales generated using links provided.
Disclaimer
Where AI content is used: This information is intended to outline our general product direction, but represents no obligation and should not be relied on in making a purchasing decision. Additional terms, conditions and fees may apply with certain features and functionality. Eligibility criteria may apply. Product offers, features, functionality are subject to change without notice.
General content disclaimer: This information is provided free of charge and is intended to be helpful to a wide range of businesses. Because of its general nature the information cannot be taken as comprehensive and they do not constitute and should never be used as a substitute for legal, accounting, tax or professional advice. Intuit cannot guarantee that the information applies to the individual circumstances of your business. Despite our best efforts it is possible that some information may be out of date.
Any reliance you place on information found on this site or linked to on other websites will be at your own risk. You should consider seeking the advice of independent advisers and should always check your decisions against your normal business methods and best practice in your field of business.
SOURCE Consumer365.org
Technology
BOE continues to launch new products and solutions in the field of high-end displays
Published
23 hours agoon
May 9, 2026By
LOS ANGELES, May 9, 2026 /PRNewswire/ —
1、Redefine Visual Experience with Scientific Standards! BOE Releases Core Research Findings on OLED Display Clarity-Legibility Index, Paving the Way for the Industry’s First Transparent Pro Standard to Deliver Supreme Visual Experience
With the rapid popularization of OLED display technology, basic screen indicators including resolution, color gamut and brightness keep improving. Meanwhile, display transparency — a core experience metric that determines visual comfort , image authenticity and premium visual quality — has drawn growing attention across the industry.
Recently, BOE has empowered the launch of the industry’s first flagship high-transparency OLED display panel, setting an industry-leading benchmark in four key dimensions: color, depth , clarity and dynamic range. It ushers high-end display into a new era, shifting from purely numerical technical specifications to ultimate user-centric visual experience.
In addition, BOE officially unveiled its in-depth research achievements on OLED display transparency. It has identified the core underlying factors affecting visual transparency through scientific research, pioneered the industry’s first display transparency index formula, and facilitated the release of the first authoritative evaluation standard for OLED display transparency. This marks an industry’s transformation from specs-oriented to experience-driven development. This marks a full-process breakthrough covering underlying technical analysis, scientifically guided image quality development and mass production application.
At present, the group standard 《Standard of Associations Organic light emitting diode display —Evaluation method for display clarity》, led and formulated by BOE based on relevant research outcomes, has been officially issued. As the world’s first dedicated evaluation standard focusing on OLED display transparency, it fills the long-standing industry gap in correlating subjective visual perception with objective image quality parameters.
Leveraging this standard and transparency research results, BOE has assisted partners in developing the industry’s first flagship high-transparency OLED screen. The company has built a comprehensive technical system for OLED visual transparency. Supported by cutting-edge technologies such as tandem, LTPO and high-precision Demura crosstalk optimization algorithms, BOE and its partners have carried out full-link optimization from display panels to end devices.
Going forward, BOE will continue to deepen research on display human factors engineering and visual experience. Through technological innovation and standard leadership, it will bring more ultimate, high-transparency premium display experiences to users worldwide.
2、BOE Beneficial “Natural” Light Technology (BNL): Solving Visual Health Pain Points and Leading the Display Industry Trend
In an era of ubiquitous displays, users are spending increasingly longer hours on screens. Nevertheless, the luminous properties of conventional displays poorly align with the human visual system, sparking widespread consumer concerns over visual health. To address such challenges, BOE draws inspiration from natural light. By deeply analyzing natural light and extracting beneficial features highly consistent with health and comfort, BOE established the Beneficial “Natural” Light Technology (BNL) architecture. Evolving from single technical upgrades to a systematic solution, BNL replicates the merits of natural light across four core dimensions: Depolarization Adjustment, Spectrum Optimization, Light Profile Optimization and Time-varying Adaptation, advancing display technology toward healthy viewing.
BNL & Visual Health
Depolarization Adjustment: The linearly polarized light of traditional displays causes targeted stimulation to retinal lutein, resulting in dry eyes, eyelid redness and other discomforts. Based on the mainstream Circular Polarization (QWP) solution, BOE BNL has developed a series of technologies like BSF/RDF Random Depolarization technology and un-Polarization,which convert linearly polarized light into randomly polarized light, enabling balanced lutein utilization across the entire visual field, and deliver natural-light-level eye protection.
Spectrum Optimization: Conventional narrow-band RGB spectra feature poor continuity and imbalanced energy distribution, with excessive high-energy blue light that induces eye strain and increases risks of macular damage. Beyond Low Blue Light solutions, BOE BNL has developed Natural-like Spectrum, Beneficial Red Light, Infrared Light and Circadian Rhythm technologies. Multiple clinical studies have verified that Beneficial Red Light and Infrared Light can effectively inhibit axial elongation and accelerate eye microcirculation. BOE takes the lead in integrating such optics into displays,achieving a spectral distribution matching degree of over 60%, an energy ratio of Beneficial Red Light (650–670 nm) exceeding 50%, and independent on/off switching and energy adjustment of Infrared Light. Meanwhile, Circadian Rhythm technology regulates melatonin secretion to safeguard sleep quality. Shifting from passive harm reduction to active eye benefits, BOE BNL delivers all-round visual health protection.
Light Profile Optimization: Conventional screens are prone to surface reflection and glare, which interfere with visual recognition and cause cumulative eye fatigue. Powered by industry-leading Anti-Glare, Low Reflection and Wide Viewing Angle technologies, BOE BNL accurately simulates the diffuse reflection of natural light to deliver consistent visual comfort across diverse viewing angles. For instance, BOE UB Cell technology achieves a DGR value below 5 with negligible glare and reflection, ensuring sustained visual comfort.
Time-varying Adaptation: Conventional displays tend to produce low-frequency flicker and fixed brightness and color temperature that fail to adapt to ambient changes, forcing frequent eye muscle adjustments and leading to discomfort. By adopting Flicker Free and Light Self-adaptive technologies, BOE BNL delivers stable, ultra-smooth visuals that replicate the comfort of natural light.
SID 2026: BOE Launches New BNL Display Products
At SID Display Week 2026, BOE launched new BNL health display products. The highlight product is the industry’s first 13.8-inch BNL health display tablet. It integrates all four core dimensions,supported by 7 core BNL technologies, to deliver a healthy and comfortable visual experience.
As a global leader in the display industry, BOE has led the development and officially issued the world’s first “Natural Light” display standard via the Zhongguancun Standardization Association,and has jointly issued the White Paper on Natural Light Display Technologies (Engineering Considerations, Application Value and Challenges) with TÜV Rheinland to drive standardized and high-quality industrial development. In the future, BOE will continue to iterate on technologies, diversify product forms and application scenarios, advance the grading standards for Beneficial “Natural” Light displays, and protect users’ visual health.
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SOURCE BOE Technology Group Co., Ltd.
Technology
BitradeX BXC First Two Subscription Rounds Sell Out, Total Subscriptions Exceed 14M USDT
Published
1 day agoon
May 9, 2026By
LONDON, May 9, 2026 /PRNewswire/ — BitradeX Capital’s ecosystem equity token, BXC, has completed its first and second subscription rounds, selling a total of 50 million BXC with subscriptions exceeding 14 million USDT. The first round sold out in 90 seconds, while the second closed within 48 hours.
While the fundraising size is not unusually large by crypto standards, the structure of the sale has attracted market attention. The first two rounds were not open to the public, but limited to high-tier BitradeX users. The first round was available only to V5 users and above, while the second round expanded access to V3 users and above.
According to BitradeX’s tier system, V3+ users typically have higher recurring investment activity through AiBot, longer platform usage history, and stronger ecosystem participation. This means the early BXC allocation was absorbed mainly by the platform’s internal high-value user base, rather than short-term speculative participants.
This approach differs from many token fundraising campaigns that prioritize broad public participation and market hype. BitradeX instead adopted a more selective, staged model, gradually lowering the participation threshold while keeping the sale within its active ecosystem community.
BXC is positioned as more than a standard platform token. Its value framework is linked to BitradeX Capital’s broader ecosystem, including its exchange business, AiBot quantitative strategies, BTX Card payments, and Labs incubation platform. Public information indicates that BXC holders may receive staking rewards, benefit from ecosystem buybacks and burns, and gain priority access to Launchpad projects and governance participation.
The third subscription round is launched on April 30 at $0.35 USDT per BXC, with a total supply of 100 million BXC. It is now open to users participating in AiBot recurring investment. The fourth round price is expected to rise to $0.45 USDT.
The long-term value of BXC will ultimately depend on the growth of BitradeX’s underlying businesses, including exchange profitability, AiBot user expansion, and BTX Card adoption. However, the rapid sellout of the first two rounds suggests that BitradeX’s core user base has already shown strong confidence in the ecosystem’s future.
View original content:https://www.prnewswire.com/news-releases/bitradex-bxc-first-two-subscription-rounds-sell-out-total-subscriptions-exceed-14m-usdt-302767467.html
SOURCE BitradeX Capital
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