Reddit Personal Finance
One of the best websites on the internet for hearing from real people about topics you care about is Reddit. Reddit Personal Finance (r/personalfinance) is a subreddit full of like minded people helping each other figure out personal finance together!
There are two important parts to the personal finance subreddit, the wiki and the posts.
The Wiki
Even though reddit is mostly known for its lively comment discussion on posts, for r/personalfinance, the wiki they maintain might be just as valuable.
On the Reddit personal finance wiki, you'll find a bunch of really excellent resources.
Basic Financial Advice
The basic financial advice page gives you an overall plan for what to do with your money to pay down your debts, save for retirement, and build wealth to reach other goals you have! This is a lot like our own strategy, but it could be helpful to hear similar ideas explained in a different way.
Age Based Advice and Tips
This part of the wiki offers different articles aimed specifically at readers of different age ranges, such as high school students and teenagers, 15-20 or mid-career adults, aged 35-45.
These resources are awesome because one size does not fit all when it comes to financial advice. If you're just getting started leaving home, you're probably far more concerned with deciding if you'll go to college and how you'll pay for it, getting your first credit card, and budgeting for the first time when you're out on your own. On the other hand, if you're starting to reach middle age with a family and retirement starting to become just barely visible on the horizon, you're going to have a very different set of needs!
These articles are excellent to read for your age range, and can help you think about aspects of your finances you might not have even known you should be thinking about before.
Subreddits from Other Non-US Countries!
Reddit personal finance, as well as this website you are reading, are largely focused on the United States. This part of the wiki gives a list of subreddits for personal finance in many other countries, that you can use to reference if you are based there.
This can be useful, especially when it comes to discussions around taxes and retirement or other tax-advantaged accounts, of which the details will vary heavily between countries.
Many Other Specific Topics!
Beyond the above, there is a long list of over 25 topics with in depth articles that could help your specific situation!
Here are just some of the topics covered:
- Buying and selling vehicles - Helpful advice on how much to budget for a car, the best way to buy a car, how to sell a car, and more.
- Budgeting - How to make a budget and plan for your spending, including tips and tools you can use to make sure you stick to it.
- Debt - All about debt and how to understand and handle it!
- Investing - The reddit personal finance introduction to investing with information about different types of assets, strategies, and accounts.
- Student Loans - Specific info for navigating student loan debt and repayment.
- Windfall - How to handle a sudden influx of money. A fascinating read about a great problem to have.
Posts and Comments
Of course, Reddit wouldn't be Reddit without the posts and discussion about them. r/personalfinance is a place for people in all kinds of situations to ask financial questions or share information with the community.
You'll see all kinds of fascinating questions asked about how to handle money they suddenly inherited, or navigate a strange tax situation. Sometimes people will ask if they should be asking for a raise or how to recognize a scam taking place.
The best way to experience r/personalfinance is to subscribe, but some sites have written about especially popular or interesting posts, such as Clever Girl Finance's "The 12 Most Useful Reddit Personal Finance Threads."
Check it out, hopefully you learn something on Reddit Personal Finance too!
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