Micro-Influencers and Money: Assessing the Impact of Social Media Micro-Influencers on the Personal Financial Behaviors of Young Adults

The rise of social media micro-influencers has transformed the landscape of financial education and decision-making among young adults, especially in India where traditional financial literacy remains limited. This study investigates the extent to which micro-influencers on platforms such as Instagram, YouTube, and Moj influence the personal financial behaviors of Indian youth aged 18–30. Using a cross-sectional, quantitative design, data was collected from 480 respondents through a structured online questionnaire. The study analyzed the relationship between influencer traits (trust, relatability, expertise) and self-reported financial behaviors such as budgeting, saving, investing, spending, and debt management. Findings revealed that relatability was the most significant predictor of budgeting and saving behavior, while perceived expertise strongly influenced investment decisions. Instagram emerged as the most impactful platform, with female respondents demonstrating the highest levels of behavioral influence. Daily engagement with financial influencers led to significantly higher influence scores compared to occasional exposure. ANOVA results further indicated that financial behaviors varied significantly across income levels and age groups. The study highlights the dual potential of micro-influencers as both enablers of financial empowerment and sources of unregulated advice. It provides empirical evidence for the growing influence of micro-influencers and offers actionable insights for educators, policymakers, and financial institutions aiming to use digital strategies for financial inclusion and literacy. The research addresses a key gap in existing literature by linking influencer attributes directly to financial behavior outcomes.