The Impact of Social Media “Finfluencers” on Investment Decisions and Financial Literacy Among Class 11–12 Students in Delhi

Social media has changed how young people access financial information, with platforms such as Instagram, YouTube, TikTok, and X increasingly shaping how financial ideas are learned and discussed (Yoga et al., 2025; Chudasama, 2025; Espeute & Preece, 2024; YavanaRani, 2021). Finfluencer content appears to improve access to financial education and can strengthen trust and financial self-efficacy when the content is credible, educational, and relevant (Goel & Uppal, 2026; Utami et al., 2026; Putri et al., 2026). At the same time, evidence shows that social media-driven investment content can activate FOMO, herd behavior, overconfidence, and altered risk perception, particularly among younger and less experienced audiences (Choudhary & Yamuna, 2025; Yoga et al., 2025; Ali & Dutta, 2026; Chudasama, 2025; Sen, 2026). High-school financial literacy studies indicate that literacy levels differ by school track, mathematical ability, socioeconomic status, and exposure to formal financial education, while school-based interventions improve knowledge and financial judgment (Amagir et al., 2020; Arivalagan & Ilangko, 2024; Mathew & Boelman, 2024; Gill & Bhattacharya, 2019). This paper proposes that among Class 11–12 students in Delhi, finfluencers are likely to function as a mixed influence: they expand access to financial concepts but also shape investment intentions through trust, emotion, and peer dynamics more than through analytical reasoning (Choudhary & Yamuna, 2025; Velip & Jambotkar, 2026; G. & Takalkar, 2026; Sirivarenya & Reddi, 2026).