Let’s Talk Finances by Hans Myburgh, registered financial advisor and Northmead resident.

“Parents play a vital role in teaching their children about safety. Early lessons may include looking both ways before crossing the road and not talking to strangers, but are we teaching them how to spot online financial scams?”, said Myburgh.

In 2025, a stranger is no longer someone standing on the corner wearing a hat pulled low over their face. They live on your teenager’s phone, flooding social media feeds with quick-money schemes, fake mentorship, and dangerous financial advice.

The scariest part is that they look trustworthy and may have a wide following.

The rise of the social media ‘fin-fluencers’
On any social media platform, you will be flooded with ‘financial advice’ from 20-somethings claiming to have cracked the code to wealth.

Claims include:
• “I made R50 000 in one week through forex trading.”
• “Passive income is the key – start here, DM me.”
• “Crypto arbitrage! All you need is a phone and R2 000.”

These fin-fluencers speak with confidence. Their videos are slick, and they often hold wads of money or sit inside high-performance vehicles.

Myburgh warns that these so-called advisors are unlicensed, lack accountability, and often do not understand the risks of promoting unverified financial schemes.

Why do people fall for these scams?
“Young people are naturally drawn to freedom and financial independence. Social media sells this dream instantly, effortlessly, and often deceptively,” he said.

Here’s how to spot ‘mentors’ of so-called ‘fin-fluencers’:
• Lifestyle marketing
Often flaunting luxury designer brands, cars, and holiday destinations.

• Urgency tactics
They often use urgency tactics with phrases like ‘only a few spots left,’ or ‘act now before time runs out’. These are red flags.

• Peer pressure
Using friends and others in positions of authority or social standing to push the sale. They often use endorsements from celebrities without consent or out of context.

“It is a dopamine-driven illusion of success, and without proper guidance, it is easy to fall into the trap, especially if parents have not taught their children what real wealth-building looks like,” said Myburgh.

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What is the reality?
The Financial Sector Conduct Authority (FSCA) recently issued an urgent warning, cautioning that online financial scams targeting young South Africans are on the rise, with millions lost through unregulated trading platforms, crypto Ponzi schemes, phishing links shared via WhatsApp or TikTok and ‘course sellers’ who vanish after receiving payment.

“Advancements in technology have led to scammers have upped their game, spoofing real bank interfaces, faking payment confirmations, and even simulating returns to extract more money from victims,” he said.

What can parents and guardians do?
• Talk to your children about money, early and often and let money and finance become part of family conversations.
Children do not need to know your net worth, but they need to understand the basics, such as:

• What interest is

• How compound growth works

• Why quick money is usually a red flag

• Teach them the difference between investing and gambling. Investing takes time, regulation, and strategy, while gambling is about the luck of the draw. If someone promises guaranteed returns in a few weeks, that is a gamble.

• Let them meet a tried and trusted financial advisor who is licensed. Educate them that FSCA regulates financial professionals and must act in their best interest.

• Review their digital habits by studying who they follow, asking questions, and sharing examples of real scams found on social media platforms. Ignorance isn’t bliss, and it is expensive.

Signs of real wealth building:
• Saving a portion of your income monthly
• Having a will and life cover in place
• Using compound interest over years, not days
• Diversifying across asset classes (not all-in on crypto)
• Learning financial patience

“These strategies may not be thrilling, but have been tried and trusted in helping individuals and families enjoy true financial freedom,” said Myburgh in closing.

“If your child would not take medical advice from a stranger on social media, why are they listening to them for financial advice? Let us raise a generation of financially literate, sceptical and empowered young people.”

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