Reddit is a wonderful place. It’s not just a powerful social media platform but one of the most information-rich places on the Internet.
If you don’t find something in the forums or blog posts (such as ours), there are chances that you will find it on Reddit.
For the very same reason, here, we will take a look at the best personal finance Sub-reddits and I’ll also mention why the Subreddits are potentially useful for information.
You can read a detailed demographics of Reddit here.
Why Are Subreddits Useful For Personal Finance Information?
I’m not a social media expert but the concept of Reddit has made some very powerful online communities possible.
Not just the exposure of Reddit posts but the users are incredibly helpful (ignoring the bad guys).
For example, if you join a Subreddit and post a query, there’s a 90% chance that you are going to get an informative set of responses considering that the community is active. But, that’s not the case with other social media platforms.
Of course, you can opt for expert advice — but when you approach an active community of users in the same field, you will get a lot of different opinions that will help you learn about your personal finance query from different angles.
Hence, I thought of listing some useful Subreddits on personal finance which you can explore for information or join to get help.
Best Personal Finance Sub-reddits
1. r/CryptoCurrency
Cryptocurrency is the next big thing when it comes to personal finance. You don’t need to rely on a bank for transactions but a decentralized network of people.
It has its share of issues and advantages. But, if you are someone who’s into Cryptocurrency and want to know more about it, this Subreddit should come in handy.
Not just limited to advices or critical analysis, but you will find plenty of information to know about the scams or security practices that you should follow for safe trading or transactions.
2. r/personalfinance
The name speaks for itself. If you’re not into cryptocurrency, you can get almost every ounce of information related to debt, investments, savings, debit, credit, and so on.
No matter whether you want to save a couple of bucks or want to know about a better investment technique, this is the perfect Subreddit. It’s even suitable for users who’re new to personal finance.
As of now (at the time of writing this), Personal Finance Subreddit is probably the largest (with 14.2 million members and counting) and the best (in my opinion) in the finance category.
Not just limited to plain information, I’ve enjoyed the financial stories that users share. You get to learn a lot of things from someone’s mistake or a useful strategy.
3. r/financialindependence
Even though the r/personal finance is a bundle of information, it can be too overwhelming for someone looking for a specific topic.
Financial Independence Subreddit is a focused community to help you learn about retiring early. In other words, you don’t have to work more to earn money. The goal of the community is to help you maximize savings, minimize expenditure, and increase your income.
4. r/tax
The most confusing aspect of personal finance is filing taxes and knowing the exact rules for it. It’s highly useful when you know how the tax system works. Once you figure it out and know the tricks to minimize your taxes legally, you can save a ton of money.
For starters, this personal finance Subreddit aims primarily for U.S. taxpayers. But, it also includes a variety of information for International tax systems. You can take a look at it to see if it suits your requirement.
5. r/SecurityAnalysis
If you are into investing, this Subreddit might be of interest. It focuses on value investing i.e investing with potentially lower risks and also analyzing various aspects of investments to make the most out of it.
Starting from company valuations to fundamental analysis of your investments, it should be a great place to join on Reddit.
However, it is worth noting that it is suitable for experienced investors. So, if you’re new, you might want to spend a great deal of time to see how professionals work.
It’s not the most active Subreddit among the others mentioned — but it’s good enough.
6. r/investing
Talking about value investments, this is a quite big and active community which is all about investments.
Not just information on what/how to invest but you will find a great deal of information about the current market/stocks and similar useful data. I just joined in to take a look at some posts and I must say that I’m impressed!
You will find all sorts of information ranging from different sectors of the economy. Of course, yet again, I’m not an expert in this field, but the information I found was intriguing and completely focused on improving the decision to invest.
7. r/CreditCards
Almost everyone has a credit card nowadays. But, in terms of personal finance, it’s very important to know the perks and the drawbacks of using credit cards.
You will find this Subreddit to be incredibly useful to get help on making good decisions, exploring how a credit card works for different cases, and explore how rewards/payback points work.
I noticed that the community is active and helpful — but you might want to take a close look if you find what you need to know.
8. r/StudentLoans
Probably the best Subreddit for students to explore more about Student loans and make better decisions. It’s not the biggest community there is – but you will find some decent activity.
After all, Student Loans account for a big chunk of debt for every average student. So, it’s important to constantly look for information to make good decisions.
Wrapping Up
Reddit is a huge place — but we’ve picked the most active and useful personal finance Subreddits out there. You can find several other Subreddits — but unfortunately, with less (or no active members), you will not find the information useful for the most part.
Let me know your thoughts in the comments below!