Finance influencer talks social media, retail hacks, and what to know when you travel

Plug and Law Attorney and Founder Erika Kullberg outlines how she got started on TikTok, where people can save money in retail and travel expenses, and pay transparency among creators.

Video Transcript

[MUSIC PLAYING]

ERIKA KULLBERG: Hi, I'm here to get a new AirPods Pro for free. We can't just give you new ones for free. But mine are making these static sounds, and noise cancellation isn't working as expected. Did you buy some kind of AppleCare plan? No. Then nothing we can do, sorry. Next.

She has no idea I follow Erika. Watch this. Actually, I read your terms, and I know that you'll replace AirPods Pros with these issues, as long as it's within three years after the first retail sale. Let me check yours. Ugh, fine. We'll replace yours for free. Who taught you this? Erika taught me. She's a lawyer and reads the fine print so I don't have to. That's why I follow her.

DAVE BRIGGS: All right, that is Erika Kohlberg, a.k.a. TikTok's money lawyer, Erika. She has nearly 9 million followers on TikTok, 15 million across all social media, and is known for reading the fine print so we don't have to because we're lazy, and we don't read the fine print. Erika joins us now in studio.

And with that reference with the AirPods, you have my attention. But first, before we get into your hacks, I want to ask you as a lawyer, as an entrepreneur, there are so many people sitting on the sidelines that think, I might have a skill or an interest, but I don't know if I'll resonate in social media. What do you tell those people?

ERIKA KULLBERG: You just try. Social media is so accessible. All you need is a camera, and record and then post it. That's it. It's very simple. Just try.

SEANA SMITH: Erika, how did you come up with it? Because it's so smart. It pertains to nearly every single person's life because you talk about a range of topics. So how did you get started with this?

ERIKA KULLBERG: I like talking about things that empower people with their money. And I thought, OK, I have 30 seconds on a TikTok to give someone an actionable tip that they can walk away with. And it was very easy to get into this fine print. There are so many topics I can go on and discuss around fine print hacks and how to save money.

DAVE BRIGGS: So do you suggest that people just start-- you said just start doing it. But a lot of people have that fear of, I might put out a video, and I might get two or three likes. So how do you overcome that fear and stay with it?

ERIKA KULLBERG: For me, it was, I was so terrified up until the point, but once you hit Publish, it's irreversible. So it's just out there. And I think the fear subsides after that.

SEANA SMITH: Erika, what about your background as a lawyer? You were an attorney. Now you're doing this full-time. Do you think thart that helped you get started or helped you kind of gain the followers that you have today?

ERIKA KULLBERG: It made me more appreciative of what I'm doing now, so I still practice law, but it's a very small portion. But it's so great to be able to wake up and do things that I enjoy, instead of just being tied to a desk.

DAVE BRIGGS: All right, I keep talking about all the boundaries that keep people from jumping in. How much time does it take? How much of a commitment does it take to succeed on social media? And I always hear-- I talked with Logan Paul about this-- consistency is the key. How much do you have to put out there?

ERIKA KULLBERG: For me, when I first started on TikTok, I committed to posting a video a day. So for the first 30 days, I posted one video per day. And I agree that it is a lot about consistency and also giving value to people. So whether it's entertainment or education, you need to go on social media with an idea that you want to provide value to people. And if you do, people will follow.

SEANA SMITH: And what about the pay? Because big names like you have a massive following. Obviously, brands want to partner with you. And some of the criticism from some of the creators in the creator economy has said that there needs to be more pay transparency, just in terms of making sure that they are paid enough. What do you make about that and the challenge that this presents to people like you?

ERIKA KULLBERG: It's so true. I've actually seen brands underpay many people. I myself started an agency to represent creators because I saw how many people were getting underpaid. And I think the best thing you can do is within your niche, talk to other people. Go to the other finance TikTokers and say, hey, how much is this brand paying you? And that's how we can get a little closer to that pay transparency.

DAVE BRIGGS: Very interesting tips. All right, we want to talk through some of your actual viral hacks. Again, you read the fine print so we don't have to travelers. Everyone is frustrated, out of their minds from delays and being booted off of flights because they had got oversold. Tell us how we go through this if you are involuntarily denied boarding.

ERIKA KULLBERG: So if you are involuntarily denied boarding, meaning bumped from a flight-- so the flights tend to-- the airlines will oversell tickets. They'll sell more tickets than seats on the plane. And if so, if they say, hey, we're going to bump you from this flight, you're, in most cases, entitled to compensation based on how long of a delay it causes to your arrival. So if it's over two hours, you're entitled to 400% of that one-way fare.

SEANA SMITH: Wow, I bet that's something that nobody knows.

DAVE BRIGGS: 400% of the one-way. But if you have a round trip, so you're literally just breaking that in half?

ERIKA KULLBERG: It depends on how the airline is going to calculate it, but the DOT rule is 400% of the one-way fare.

SEANA SMITH: And Erika, you also-- so you have a lot to do with travel because also not only if you get bumped from a flight, but the baggage fees-- it goes on and on and on. But also in the retail space, Nike, you did a video about this. It got millions of views. If your Nike's are damaged, they fall apart, you actually have a hack on how to get a free pair. What is that?

ERIKA KULLBERG: Yes, so a lot of people know about the 60-day return policy, but not a lot of people know about the two-year warranty. So if there's a manufacturing defect-- let's say almost two years after you purchase, there's a tear in your shoe-- you can go return it for a gift card or a refund.

DAVE BRIGGS: No matter how it happened?

ERIKA KULLBERG: It depends because wear and tear isn't a manufacturing defect. But something like-- it really depends on how they judge it.

DAVE BRIGGS: OK, that is one--

ERIKA KULLBERG: But I've had hundreds of followers say that it worked for them.

DAVE BRIGGS: And you take it back to the retail store where you bought it, even though it's a manufacturing technically, a manufacturing refund, right?

ERIKA KULLBERG: The best thing I always recommend doing is go online first because it'll save you the embarrassment of having to go in-store. I know a lot of people are shy and don't want to be like me and be like, here's my shoe.

SEANA SMITH: I'm one of those people. I get so awkward. I don't-- yeah.

ERIKA KULLBERG: So go online first. With any of my hacks, the best process is always to initiate it online.

DAVE BRIGGS: OK, so inflation is all we talk about. These days, it remains high. Many Americans are certainly out relying on their credit cards more and more for extra help. What can you do if you have something stolen on your card? What do you do then?

ERIKA KULLBERG: A lot of credit cards come with purchase protection. So if your AirPods are purchased on your credit card, and they're stolen or lost, that credit card may have purchase protection, where it'll actually give you the money back to go purchase a new pair.

SEANA SMITH: How do you figure out which credit cards this pertains to? Because-- I don't know. I have Chase, for example.

ERIKA KULLBERG: So you can--

SEANA SMITH: Is Chase on this?

ERIKA KULLBERG: Yeah, you can look up your credit card and then add purchase protection, and just google that and see if it covers.

DAVE BRIGGS: I want to circle back to where we started with the airlines because, again, thousands of people out there are just pulling their hair out because they're spending 8 hours on the phone. They're not getting refunds. They are moved 4 or 5, 6 hours. They're having to buy hotels because their flights are cancelled. Where do we find these tidbits that they do have to do for you? Where do we find that fine print?

ERIKA KULLBERG: So the first place I always go is the Department of Transportation. So search the Department of Transportation website.

DAVE BRIGGS: So not on the airline's, OK.

ERIKA KULLBERG: And then the second step would be to go to the airline's contract of carriage to see what they have in there.

SEANA SMITH: And Erika, I mentioned it quickly before, but you also have a hack when it comes to bags, right?

ERIKA KULLBERG: Yes.

SEANA SMITH: If the airline loses your bag, that's right?

ERIKA KULLBERG: Yeah, if the airline loses or delays or damages your bag, they're liable for up to $3,800. So for example, if your bag is delayed and you're on a business trip, and you need to go buy a suit before your bag arrives, you can expense that and get it reimbursed by the airline.

DAVE BRIGGS: OK, lastly, I think this is all coming to a podcast. Tell us about that.

ERIKA KULLBERG: So I have a podcast launching called "Erika Taught Me." It's going to launch next month.

SEANA SMITH: Wow.

DAVE BRIGGS: And we find that on iTunes or?

ERIKA KULLBERG: On YouTube, everywhere--

DAVE BRIGGS: YouTube.

ERIKA KULLBERG: --where podcasts are streamed.

DAVE BRIGGS: Well, we can't wait for that because we don't read the fine print. We get to assume you do.

SEANA SMITH: We certainly don't. We rely on you.

DAVE BRIGGS: Erika Kullberg, great to see you.

ERIKA KULLBERG: Good to see you.

DAVE BRIGGS: Thanks.

ERIKA KULLBERG: Thank you.