Are you familiar with Reddit Personal Finance Threads? Before anything else, Reddit is a discussion website where users, also known as Redditors, can share ideas, discuss relevant topics, and create content around the web.

When I first encountered it as I searched for some movie reviews, I thought about its great community. Before, I was doubtful because I'm unsure whether the posts I read were from real people.

However, not all shared posts or comments were amusing. Since it's still social media, there were some hate speech, heated discussions, and a lot more not-so-good side of Reddit.

On the brighter side, there are thousands of topics to choose from. You can join communities around it to ask questions, share your thoughts or experience, and ask advice from real people who have also experienced or are knowledgeable about the topic.

One of my most favorite communities around Reddit is topics involving Personal Finance. It's incredible how people from different walks of life have stories to share, and Reddit has been a useful tool to gather practical advice from various people around the world.

Today, let's learn more about the Reddit Personal Finance Community thread that you absolutely must join.

What is Reddit?

First of all, before we proceed to the main course, let me briefly walk you through Reddit's basic.

In simple words, Reddit is a web space where its users can submit content to the site, such as links, text posts, and images, which other members then voted up or down.

I'd like to think of it as somewhat similar to Quora, a question-and-answer platform or forum for topics anything under the sun. To easily remember, think of Reddit as “read it.” A place on the web where you can get almost any answers you have in mind, apart from Google, of course.

On the other hand, Reddit is also more on the content sharing and discussion/debate side. It comprises of a Subreddit or subs for short (categorized message boards.) On each subreddit, users can talk about a different topic.

For instance, the r/Consulting is a community for consultants and those interested in consulting.

The r/Freelance is for freelancers and people who want to become one, sharing related articles and useful tips to everyone.

And then there's r/Financial Planning to discuss and ask questions about personal finances, budgeting, income, retirement plans, insurance, investing, and frugality.

The Reddit website is user-friendly, and the UI is simple. You'll just see a few ads here and there. Overall, it's straightforward to navigate, and you can also use the mobile app version.

To get the hang of it, let us learn a few Reddit jargons you should get familiar with. (For those reddit junkies, you can skip this part)

Reddit 101

• Subreddit– also known as “sub,” is a community or section on Reddit that focuses on a specific topic. There's almost any subreddit for anything. From memes to politics, you will never run out of topics to dive into.
• Post– any statements, stories, questions, images, links, or anything relevant to the sub you are posting in.
• Upvote/Downvote– think of it as “like” or “dislike,” the same way you get on a particular post on any social media site. In Reddit, the more upvotes you get, the better. Plus, posts with more upvotes will appear towards the top of the sub for “hot” or “top” relevant posts.
• Karma– a.k.a., your Karma Score, is the accumulation of goodwill you received when other users upvote your posts or comments. A healthy amount of Karma on your profile lets other users know that you add value to the community.
• Wiki– a collection of web pages on Reddit. You can think of it as an encyclopedia of related topics.
• Acronyms– Reddit uses tons of acronyms. Well, why not? It's easy and makes reading fast. Below are a few acronyms you may encounter.

TL;DR	Too long didn't read
OP	Original Poster (author of the post)
IMO	In my opinion
ITT	In this thread
OC	Original content

Well, aside from the acronyms mentioned above, there are many more!

Furthermore, it can feel too overwhelming to consume all information at once. However, in accessing threads at Reddit, you do not need any special codes or technical knowledge. Honestly, I thought it's kind of weird reading sentences with shortened terms or with “r/,” “u/” (for users), but trust me, even your grandma can be a Redditor.

Now that you know how Reddit works and some hot mess of terminology to look out for, let's find out a must-read Reddit personal finance thread you shouldn't miss out on!

The Top 9 Must-Read Subreddit Threads

1. r/Financial Planning

The Financial Planning Subreddit is a great place to seek advice with regards to your finances in order. It focuses primarily on professional advice for working people in all different income levels.

Whether you've got questions regarding taxes, retirement plans, or insurance, you've got all the answers you need plus practical recommendations from people who have gone through a similar situation. Other users are eager to answer any money-related questions you might have.

2. r/Personal Finance

From the word itself, this thread is for learning about budgeting, saving, getting out of debt, credit, investing, retirement planning, and more.

There's hardly a money-related topic that isn't tackled here by Redditors so, if you're new to Reddit and you have financial questions, this is a great place to start.

My favorite thing about this sub is its section on Financial Advice for Young Adults. They even categorized it by age! This wiki page is designed for people ages 18-25 and answers the questions about:

• Can you use refunded money from one student loan to pay off an earlier student loan?
• Should I just rent forever?
• Is grad school worth the money?
• How much should you pay for health insurance?
• Are bonds worthwhile for someone in their 20s?

Whether you fall under the 18-25 age bracket or not, you can pick up useful tips from this thread. If you're conflicted or had hurt your finances during your 20s and are catching up now, you can still learn from here.

Further readings: Who Needs Financial Literacy? Ultimate Guide To Personal Finance 2021

3. r/Poverty Finance

The Poverty Finance sub is one of the best places to get financial advice. More importantly, if you're trying to live a smarter financial life you can get valuable advice from here.

It is designed for people living below the poverty line and even those in the middle-class who have disposable income trying to live smarter and plan for their retirement.

The coolest thing about this sub is its entire wiki of Personal Finance For The Financially Challenged. It includes financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. No Judgement, just purest advice!

The sub does not entirely guide you on cover surviving poverty but also getting out of it. Topics covers:

• Learning to live within one's means
• Achieving a positive earning to expense ratio
• Reducing debt and building savings
• Moving to a better paying job
• Cutting expenses
• Working smarter, not harder
• Planning for upcoming expenses, purchases, adventures
• Finding qualifying benefits

These resources are precious for unemployed folks out there and those who are having trouble making ends meet. Most significantly, during the pandemic, many people have turned on this site. It offers valuable information on finding work and taking care of family, health, and finances during a crisis.

Related reads: How To Stop Living From Paycheck to Paycheck – 10 Realistic Tips

4. r/Sidehustle

Of course, if you ought to save more money, you should also learn to make more of it! You can discover or offer ideas on making money on top of another full-time commitment in the side-hustle sub.

Whether you're looking for unique ideas, offering advice, or plainly asking questions about trending side-hustles or economy gigs, most friendly folks here will interact with you.

In the side-hustle sub, moderators allow users to freely self-promote their side-hustle business in the comments section. Therefore, you can include a link to your website, store, portfolio, or social medias but you must provide details of your business and why people should buy your products/services.

5. r/Financial Independence

Bet you have an idea of what this board is all about, huh? Essentially, it provides tips on achieving financial independence.

Financial independence means not having to work for money. In other words, if you can quit your job today, you can sustain your lifestyle and live as if nothing happened. You're not dependent on your job or any money-making scheme, and you're debt-free.

Isn't it nice to live that way? Knowing that you are financially abundant, you can retire early, spend intentionally, do whatever you want with your money, and focus more on what's essential for you.

Financial Independence and Retire Early (FIRE)- is a popular movement today in the financial realm and is a hot topic circulating on Reddit. People worldwide bounce off each other's ideas about passive income, how to build wealth, entrepreneurship, and other related issues.

At its core, FIRE is about maximizing your savings rate (through less spending and/or higher income) to achieve financial independence and have the freedom to retire early as fast as possible.

Related reads: How To Become Financially Independent- 7 Habits To “FIRE.”

6. r/Adulting 101

Shifting from pure financial topics, one of the most exciting sub in Reddit is the Adulting101 section. It is a place to learn all of the simple things that every adult should know.

It can be challenging transitioning from teenage to adulthood life. Many basic life skills aren’t covered in school, and it’s expected that you’ll somehow figure it out as you go. There are some great subs out there that can help with specific types of problems, but there isn’t any one place to go to learn the basics of being an adult. 

Enter r/Adulting101. This sub will benefit those fresh graduates and are starting out new chapters in their life. You can see answers to questions like:

• How do you file your taxes?
• Guide on how to buy a car
• Steps on budget planning
• What do I need to buy for my first kitchen?
• How do you handle workplace conflicts?

Moreover, it is beneficial to those who grow up without a role model in their life. At least, you'll learn something from a stranger from a faraway land with a few clicks and tap on your phone or laptop.

7. r/Frugal

The Frugal community is comprised of like-minded individuals embracing frugal living. Well, not necessarily financial matters, but also in terms of time, energy, and convenience.

It's more of smart resource allocation and minimalism at some point. This is an excellent place to find hauls and saving tips and tricks from many people finding great deals.

You can learn how to live with less here and save more money. Furthermore, you'll find many DIY (Do-It-Yourself) tips to help you make things, so you don't have to spend a dime purchasing them.

Related reads: 32 Realistic Ways to Save Money Very Easily Without Giving up Too Much

8. r/Business Ideas

If you have that entrepreneurial spirit within you, perhaps you can pick up a few great ideas from this sub.

You can read other people's business ideas and provide feedback about it. Besides that, you can also learn about making business plans, trending businesses today, and being uplifted about success stories from people who jump into the unknown and build their business and wealth from the ground up.

9. r/Beermoney

The beer money is a community for people to discuss online money-making opportunities. You shouldn't expect to make a living, but it is possible to make extra cash on the side for your habits/needs.

These include cashback apps, online paid study, and surveys, gaming tasks, among the few.

You see, there are tons of subreddits out there catering to various topics. There's a sub for investing, budgeting, credits, travel deals, memes, viral videos/posts, and more!

Unlike other networking sites, Reddit uses the power of community brainstorming to solve some of the day-to-day questions that real people have.

How to get the most out of Reddit

Upon joining the Reddit community, you'll notice that users follow specific rules formed by the moderators. To make the most out of Reddit, here are some tips to get started.

Respect and do not condemn.

Everyone is entitled to his or her own opinions. If someone is triggered or has opposing views, learn to respect and understand where they're coming from. Besides, you can share stories on Reddit. If you appropriately tell your story and lay it concisely, make sure you stick to your point; yes, you'll get completely different ideas, but it's also worth reading how other people's minds work.

Try to avoid prejudices and biases. If possible, reach out to the person and seek to understand.

Follow the rules.

Some sub moderators are strict to their community rules; better yet, follow them. These include no advertising or self-promotion and no spam. Remember, topics should drive conversations so, make sure you post relevant content.

Others avoid politics or religious topics and also inserting links. Therefore, ensure to check out how the community works and standard procedures they follow, either weekly or daily threads. Doing so may get you banned or often automatically removed.

Engage and answer other people's questions as well.

It's like building a healthy relationship. Learn to give and take. Reddit exists not just for you to gain answers or the latest tips and tricks. It is a thriving community. Therefore, you should also answer other user's questions as much as you ask.

Besides, it's more than personal finance topics. Perhaps you have watched a good show, and you're looking for other people's thoughts about it. It always amused me how you can get inspiration and get influenced by how other people think about something.

Moreover, let's say you found a great deal on a shopping site. You can freely share your experience and teach other people how you got yours. Sharing is caring, and if you have the power to influence or help improve other people's life by the mere typing of your fingertips, why not?

Keep it light and breezy.

Reddit is a fantastic platform for people who want to help each other. As much as possible, stay away from toxic arguments and avoid getting banned from the site.

Participate, respect, and focus on the good part. You should also try to keep your interactions positive as the most valuable discussion always gets to the top. Reddit is a valuable resource, especially for financial information.

Final thoughts

In case you're wondering whether Reddit is safe? Well, for the most part, it is. On top of that, it all depends on how much information you shared on the site.

If you use your real name, addresses, and other personal information about you, it's not impossible but someone who knows you might recognize you based on stories you share in real life or something like that.

At the end of the day, Reddit is still a social media. Practice safe browsing and it's all up to you whether to follow the advice you received from there. Absorb what's makes sense to you and accept that there could be tons of positive and negative sides to Reddit.

Kids or teens should use it with parental guidance as Reddit is an adult site made by adults. There could be foul words and stuff that is inappropriate, delicate and people can be mean too.

Overall, Reddit is a powerful, organized, and useful platform for stuff related to your financial matter, aside from TheFinanceBoost blog, of course!

Whether you want to start crushing debt or planning to live better financial life, there is a subreddit for you.

Do you have any other subreddits know that I have missed? Share it with us below!