Influencers and advertising standards online

It’s the summer holidays and it’s that time of year where having a break is on everyone’s minds… Just ask Cathi, as she has just finished sunbathing on a beach in Ibiza (I’m not jealous at all). Let’s hope she took the advice from Jo in last month’s episode, Episode 22 – TikTok emojis and educating everyone and purchased travel insurance this time.

This month’s episode kicks off with the big news of the new free trade deal agreement between Britain and Australia. Cathi and Jo discuss the positives that will come out of this deal, for example, export tariffs to be abolished. However, I think the most important one is that more Australian alcohol will be imported (woop!). The topic of conversation quickly moves onto exports and how times have changed from when Jo and Cathi were children – it would be impossible to have strawberries in the winter, however because of exports and trading nowadays we can eat strawberries all year round. I’ve definitely got the urge for some strawberries right now. Cathi and Jo let us know all about their summer jobs from when they were growing up – let’s just say, you don’t want to miss that.

In other news, social media influencers have been told by the government that they need to use the #AD if they are promoting/ advertising products on their social media accounts. Cathi and Jo chatted about false advertisements and the negative impact they can have on consumers who buy into these products and services. This topic of conversation, later on, sparked the discussion about vulnerability within finance and how important it is to make things clearer for clients. Do you think there should be more regulation on social media influencers advertising products? Is the #AD enough? Let us know what you think about false advertisements and social media influencers promoting products/ services in the comments on our Twitter @thatmintpodcast. We finished this section with a list of antiquated laws (one of Jo’s favourite things in the world) and was very interesting how obscure some of the laws that were put in place a long time ago and are still active right now. If you know any antiquated laws, feel free to tell Jo, as she will be thrilled to add them to her antiquated law collection.

We had a brilliant guest to end the show, Iona Bain (@ionayoungmoney), the founder of Young Money Blog. Iona tells us how she became a writer, speaker, broadcaster and author, specialising in young people’s finance. She explains the importance of financial education and how significant it is to have a healthy relationship with money. She also talks about the importance of financial regulation and how social media platforms are not regulated, which could lead to misinformed information being construed as fact. What are your thoughts on ‘finfluencers’? Are they essential to the industry? Let us know in the comments below.

That’s it from me this month for our penultimate episode. Thank you once again for listening, we hope you have learnt something new as always. Thank you to our special guest Iona Bain, please go check out her website here and follow her on all her socials so you can keep up with her work.

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