Claudia Gleason is part of a growing community of Canadians using TikTok to share payday routines online.Ashley Fraser/The Globe and Mail
Claudia Gleason is unapologetic about her financial smarts – in person and online.
The 25-year-old Ottawa communications professional began posting to TikTok in 2023 to document her transition from a master’s program to earning a consistent income from her first full-time job, and to hold herself accountable for working toward her financial goals.
“I’ve always liked talking about money with people, especially with my parents, siblings and friends,” Ms. Gleason said.
Ms. Gleason is among a growing number of young Canadians that use TikTok to share snippets of their lives, including payday routines. For the most part, this group is interested in sharing their experiences, including their mistakes, with other young people learning to manage their personal finances.
While financial advice on social media is varied in quality and in many cases flat-out wrong, payday routine videos are part of a trend of people discussing their personal finances and promoting healthy habits, such as tracking credit card spending, automating savings for an emergency fund, or investing in a tax-free savings account also known as a TFSA.
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Just as you would outline a recipe, devising a payday routine involves outlining the steps you take to pay your bills, cover your debts, and fund your investments, savings and longer-term goals. The routines can be customized to your income streams – whether you’re someone working a corporate 9-to-5 or a freelancer with multiple sources of revenue – and financial priorities.
Having a routine on payday isn’t new. But the way Gen Z and millennial Canadians are showcasing them online is. People like Ms. Gleason, who have no formal financial training and don’t claim to, post videos of their payday routines to document the process of working toward their financial goals, including the mistakes they make along the way.
A search of #paydayroutine on TikTok yields a bounty of videos, from how a marketing co-ordinator in Toronto budgets his $65,000 take-home salary to how a new grad nurse in Halifax budgets a base pay of $40 an hour. The videos often start the same way, with the creator sitting at a desk, facing a computer screen displaying a spreadsheet. One popular payday routine video shows creators documenting how they saved their first $100,000.
Another creator, Sanaa Kahloan, a Toronto-based product manager, also posts videos about how she allocates her money when she gets paid. After amassing more than 11,000 followers by posting her personal finance content, Ms. Kahloan was added to Wealthsimple’s super referrer program, where she earns $75-per-referral bonus, three times the typical cash reward that users earn from referring someone to Wealthsimple.
Ms. Gleason, like others who share their budgeting tips on TikTok, don’t claim to be financial planners, but experts still caution that these routines should only serve as inspiration, not advice.Ashley Fraser/The Globe and Mail
The 25-year-old began posting to TikTok after graduating from Toronto Metropolitan University in 2022. “I started a personal financial literacy program in university where we partnered with banks,” said Ms. Kahloan, who also worked as a bank teller as a student. “I never realized I could take it to the internet.”
Every dollar that lands in Ms. Gleason’s bank account on payday has a job. The first thing she does is pay off her credit card bill in full. She then sets money aside for rent and a first-home savings account or FHSA. Ms. Gleason opened her FHSA when it was introduced in April, 2023, and said saving up for a mortgage is her main financial priority.
On the other hand, Ms. Kahloan prioritizes spreading her payday dollars across various savings and investment accounts, such as a TFSA and RRSP. She also sets money aside in “sinking funds” – accounts dedicated solely to specific savings goals, such as hobbies and wedding guest expenses.
Experts caution that these routines should serve as inspiration, not financial advice.
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“A lot of the creators are not professionals who have been certified by FP Canada and held to very high standard,” said Ryan Lee, certified financial planner and founder of Twain Financial in Richmond, B.C. (FP Canada is a national not-for-profit education, certification and professional oversight organization.) He points out that there are no repercussions for online creators who spread misinformation or fail to disclose conflicts of interest that could potentially hurt a person’s financial situation.
While creators like Ms. Gleason and Ms. Kahloan do not position themselves as financial planners or advisers, Mr. Lee recommends viewers research the background and credentials of online personal finance creators. He said to be wary of creators who promote financial products, as this could be a sponsorship or form of product placement for them to earn money.
The other trouble with online advice is that the algorithm doesn’t distinguish quality content that could be helpful and content that could be incredibly damaging, says Natasha Knox, a certified financial planner and the founder of holistic financial wellness service Alaphia Financial Wellness in Vancouver.
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That said, the peer-to-peer relatability, as Ms. Knox puts it, is part of what makes #paydayroutine videos so appealing. “When we can see what someone that we perceive to be our peer, someone that we can relate to, is doing, it makes a goal that much more achievable.”
For someone stuck in a shame cycle about a money mistake, seeing someone be so candid on the other side of it can offer hope, said Ms. Knox, whose firm integrates financial coaching and therapy into the planning process.
Ms. Kahloan also believes that everyone makes mistakes. “The vulnerability is what makes people feel connected to you because it’s like, ‘Oh, you’re human.’”
Being strategic with managing her money helps Ms. Kahloan stay ahead of surprise expenses, like a trip to the mechanic. The “mental security” is the biggest benefit to having a payday routine, she adds.
Participate in the Paycheque Project
The Paycheque Project is a regular series in The Globe and Mail that looks at how much young Canadians are earning – and where that money is going. We’d like to hear from young adults from a diverse range of backgrounds, geographic locations, and earnings ranges.
If you’re a millennial or Gen Z and would like to participate, fill out the form below or send an email to Roma Luciw at rluciw@globeandmail.com. Please include your name, age, where you live, occupation, your biggest financial concern and your email. And remember, Paycheque Project is a judgement-free zone.