If you want to find the best personal finance advice on the internet, Reddit is the place to be. There are three factors that make it the ideal social media platform for personal finance.
One of them is anonymity. As Reddit is extremely anonymous, people aren’t afraid to share unhinged details about the mistakes they made in the past, so you don’t have to. The second factor is many Reddit users are highly intelligent and they will share some of the best advice.
The third factor is subreddits. There are so many good personal financial advice subreddits on the site that you can simply subscribe to communities based on your level and thereby receive updates on topics that interest you.
So, to help you quickly find the best personal finance subreddits I have made this list for you.
Best Reddit Personal Finance Subreddits
Here are the best personal finance subreddits. Subscribe to the ones that suit you best.
Personal finance is the biggest finance related subreddit on Reddit. You can ask for information related to anything personal finance here whether that is student loans or credit cards or budgeting or healthcare or the stock market or credit scores. Redditors at this subreddit are very helpful so don’t be afraid to ask any questions you have.
Before you ask any questions make sure you read their Wiki. You can find it on the side bar on the right. It’s labeled as PF Wiki. Also, take a look at the past posts because the question you wanted to ask might have already been asked and answered. There’s a wealth of finance tips already on the subreddit.
The only drawback of this subreddit is that it isn’t suited for people who want to follow topics on a specific subject.
Number of members: 14.4 million
Main Topic: Anything to do with personal finance.
Best suited for: People who want to learn everything about finance.
Do you want to learn how to save money and spend more wisely? Then this is the subreddit for you.
Their plan is to help you think about Frugality as something beyond just money. Here’s what they call their approach:
“Frugality is the mental approach we each take when considering our resource allocations. It includes time, money, convenience, and many other factors.”
Feel free to ask any questions you have whether they sound serious or not. People here are ready to help you out with everything from interest rates to whether it’s worth subscribing to Netflix or Amazon Prime.
Make sure to read their Wiki before posting anything.
Number of members: 1.6 million
Main Topic: Frugality.
Best suited for: People who want to live frugally.
The Financial Independence subreddit was born out of the FIRE (Financial Independence Retire Early) Movement. If you want to achieve financial independence and retire early, this is the best subreddit.
You’ll find the best advice here on maximizing your earnings and savings.
If you are okay with saving aggressively and at the same time working hard to earn as much as you can, you should join this finance community. The advice here will help you achieve financial freedom quickly
Number of members: 857,000
Main Topic: Early financial independence.
Best suited for: Anyone who wants to achieve financial independence quickly.
If the Financial Independence sub seems a bit too aggressive to you and you’d prefer something more simple if you’re approaching finance planning for the first time, you should check out Financial Planning.
Many of the people offering the advice are financial advisors and planners. If you are happy with their questions, you can hire them to help you out with more advanced things.
Number of members: 196,000
Main Topic: Simple financial planning.
Best suited for: Anyone getting started with financial planning.
5. Credit Cards
Credit cards are a very useful tool. But you should be careful with them. You need to pick the right one and avoid using them so much that you bury yourself under credit card debt. As debt can negatively affect your credit score.
This seems to be a problem currently because of the pandemic where more people are using credit cards to make ends meet.
If you have any questions about credit cards, make sure you post them on this sub.
Number of members: 286,000
Main Topic: Credit cards.
Best suited for: People who want to learn more about credit cards.
Investing money into real estate is a great move. But it isn’t as simple as just buying property. You need to take a lot of other factors into consideration. It’s best to get advice from people who have done it before.
One place to find these people is Real Estate Investing. Redditors here are ready to answer questions on buying your first house to collecting rent to more advanced topics.
Number of members: 419,000
Main Topic: Real estate investing.
Best suited for: Anyone getting started with real estate investing.
As the name suggests, Middle Class Finance is a forum where the middle class discusses their financial problems, advice, and ideas.
If you have any financial questions related to the middle class ask them here or search the subreddit to find answers.
Number of members: 21,264 members
Main Topic: Middle class finance.
Best suited for: Middle class people.
Budget is a great subreddit for anyone who wants to get started with creating and maintaining a personal budget. It’s a small community.
If you follow the advice here, you will be able to soon amass an emergency fund you can use for sudden expenses.
Number of members: 13,600
Main Topic: Budgeting
Best suited for: People looking for beginner friendly budgeting advice.
UKFIRE is another Financial Independence Retire Early subreddit. If you are based in the UK or elsewhere in Europe and find that the Financial Independence subreddit, is more suited for Americans, you should check this out.
It’s a much smaller subreddit than the main one. I recommend that you follow both if you are based in the UK or anywhere in Europe.
Number of members: 41,400 users.
Main Topic: Financial Independence Retire Early.
Best suited for: FIRE Movement enthusiasts in the UK.
Banking isn’t a sought after topic in the other subreddits. So, if you want some advanced advice on bank accounts, you should join this subreddit.
You will learn about everything from savings accounts to checking accounts.
Number of members: 33,500
Main Topic: All about banking.
Best suited for: People who want to learn more about bank accounts.
This is a great place to go for anything insurance related. On the right sidebar, they have filters to quickly find posts related to popular insurance such as life, auto, and health insurance.
Number of members: 51,200
Main Topic: Everything about Insurance.
Best suited for: People who want the best insurance advice.
Investing is the most popular investing subreddit with over a million users. Here you can find everything related to investing.
Have you got any questions related to the stock market or real estate or index funds or Vanguard? Then ask them here.
Number of members: 1.7 million
Main Topic: General investing.
Best suited for: People who want to learn all about investing.
Bogleheads is named after Jack Bogle, the founder of Vanguard. He created the first index fund. This is a great place for lazy investors as the subreddit calls itself. If you’re just starting out with investing and want to have some fun, make sure you subscribe to this subreddit.
Also, read Jack Bogle’s book, The Little Book of Common Sense Investing. It’s on my reading list for this year and I look forward to diving into it.
Number of members: 43,400
Main Topic: Investing in stocks and bonds.
Best suited for: People who are getting started with investing.
Shoestring is a sub on frugal traveling. It’s a great place to not only find advice on cheap traveling but also deals on flights and hotels.
There are over a million users ready to offer the best advice. If you like traveling, but don’t want to spend humongous amounts, make sure you join it.
Number of members: 1.1 million
Main Topic: Traveling on a budget.
Best suited for: People who want to save while traveling.
15. Poverty Finance
As the name suggests this is a community for people facing financial problems. Redditors here readily share stories, tips, advice, and opportunities. The community has grown considerably over the past year as a result of the coronavirus pandemic.
Number of members: 614,000
Main Topic: Financial advice for the financially challenged.
Best suited for: People with financial problems that want to improve their finances.
Do you want to save up slowly and comfortably unlike those in the FIRE movement? Have you got questions about topics like Roth IRA or pensions or 401k?
Then this is the community you should check out. There’s a vast amount of information about retiring and saving up for it.
Number of members: 7,900
Main Topic: Everything retirement related.
Best suited for: Anyone who wants to plan better for their retirement.
If you are interested in investing in cryptocurrency but are unsure which one is the best and how to go about it, you should check out this sub on Reddit. A lot of the users here also post memes.
There are also separate subs for cryptocurrencies like Dogecoin and BitCoin. If you want to learn about them individually too, make sure you check out the subs. Both of them have a lot of users too.
Number of members: 1.7 million
Main Topic: All about cryptocurrency
Best suited for: People who want to learn about the different types of cryptocurrency.
As the name suggests this is a place where taxpayers go for advice and for posting their stories. While taxpayers answer questions and share the latest news. It’s also a good community to find people like chartered accountants that can help you file your taxes.
Number of members: 112,000
Main Topic: U.S and international tax advice.
Best suited for: Taxpayers and tax geeks.
Security analysis also known as value investing is related to tradable financial instruments such as stocks and bonds. Check out this sub if you want to learn about them. Another thing you might want to do is read the book, Security Analysis, by Benjamin Graham who is known as the father of value investing.
Number of members: 151,000
Main Topic: Value investing.
Best suited for: People who want to learn more about value investing.
20. Student Loans
Here you can learn about everything student loan related. Whether they are student loan scams, scholarships, or something else. The audience here consists of students who want to take loans, students who have already taken loans and financial advisors helping them better deal with their situation.
There are also separate subs like r/ApplyingtoCollege and r/Scholarships. You might want to check them out too.
Number of members: 99,600
Main Topic: Student loans.
Best suited for: Students and former students who want to pay off their loans.
21. Almost Homeless
Homelessness is a problem that is gripping people all over the world currently because of the coronavirus pandemic. If you have some experience dealing with homelessness and want to offer advice or if you need some, make sure you join this sub. There are a lot of helpful people here who are ready to lend a year to your sorrows.
Number of members: 31,100
Main Topic: Dealing with homelessness.
Best suited for: People who are already homeless or are about to be.
Which Personal Finance Subreddit is Your Favourite?
As you can see above there are so many subreddits on personal finance on Reddit. You can join all of the above or just a few depending on your interests. If you look around you will find many more subreddits on very specific topics. And if you don’t find one on a topic you are interested in, you can always create a new one.
After you join a subreddit, don’t just post questions or search for old ones. Instead, get involved more deeply. If you find something interesting and you feel more people will, click the upvote button so even more people will discover it. Also, leave a lot of comments and DM people if their advice helped you out. These interactions will sometimes lead to longer and stronger friendships.