There is more to Reddit than just gaming tips, memes, and funny cat videos. If you have spent a reasonable amount of time on Reddit personal finance threads, you would know that it contains much information. This is because regular people and finance experts’ post-financial advice, strategies, and tips on Reddit, which makes it a great site to get valuable information. Scrolling through Reddit can be overwhelming because of the numerous information that can be found on the site. Reading and taking the advice from Reddit can make you a better credit holder, investor, and earner.

Are you new to Reddit?

Before plunging into the Reddit personal finance tips, it might be helpful to know some of the slang and how Reddit works. But if you are not new to Reddit, be free to skip the introduction.

What is Reddit?

Reddit is a popular online community where people can talk about anything from politics, food, relationships, news, technology, pop culture, movies, literature, comics, not safe for work (NSFW), to finance. Users can put up content consisting of photos, videos, and links. It can also be content consisting of texts, questions, answers, etc. Users can interact with the post or content by commenting on original posts, upvoting, and downvoting posts and comments.


Subreddits are independent communities that are on Reddit which are used for discussing specific types of content or topics. Reddit consists of many sub-communities where members of the community can post comments, pose questions and have open discussions on various topics. Subreddits are shown using r/Topic.


A thread is a set of replies to a single post, as seen on Facebook and Twitter. On Reddit, a thread is also known as a discussion. To start a discussion on Reddit, you must locate the subreddit you want to create the discussion or thread in before posting.


When a user posts a good answer to a question, others can upvote it if they agree with it. Others can downvote it if they do not agree with the answer.


Karma is used to distinguish between people who give mostly good answers and those who are just there to troll others (that is, give mostly wrong answers). When a user gets an upvote, their karma goes up and vice versa. But then, the karma is summed up from all the subreddits the user belongs to, so be careful. A user can know so much about movies and get tons of karma there but might not know much about finance.


OP is short for the original poster.


This is short for Too long; I Didn’t read it. After an extremely long post, some users would provide a summary and preface it as TL; DR for users who found the original posts too long to read.

How to use Reddit

All you need to gain access to this public forum is a web browser and a good internet connection. You do not need to create an account to go through some of the subreddits to read their contents. However, some private subreddits are through invitation and will require you to open an account.

To open an account, all you have to do is;

Choose a username, set your password, enter your email address, and you become a member!

Now that we have gotten the introduction right, here are the nine biggest tips from Reddit personal finance;

Budgeting –by zonation

One of the best Reddit personal finance tips is budgeting.

Budgeting is the bedrock of your financial health because they allow you to keep control over your spending.

Trying to make ends meet without a budget is like driving a car without a brake pedal.

A budget does not take too long to develop.

Pick a method or software to start budgeting.

Assess your monthly income.

Subtract your spending from your income.

Pay your debts down quickly so that you can pay little interest as quickly as possible.

Save for emergencies to cover unforeseen expenses in case something goes wrong.

Invest early for your retirement so that you can reap the benefits of compound interest.

Always live within your means or financial limit.

Start investing in 401(k) plan – by KermitMadMan

Start saving early for your retirement plan.

Begin with a small percentage of your income since you have other bills to pay.

Save at least six months of your income.

Look for company matches and put that much in.

Depending on your income level, open a ROTH account.

How to build a good credit score – by uRabbit

Good financial habits lead to good credit scores.

Start with a new checking account.

Record all your transactions as they happen—transactions like debit, withdrawal, transfer, deposits, etc.

Round up transactions to the nearest dollar.

Have a cosigner on some type of loan.

The best way to use credit cards is to think of them as other debit cards.

Your credit card should be used for the rewards and not for emergencies.

Getting out of debts – by PacificNorthLeft

Lower expenses on hair and nails.

Ditch subscriptions.

Adopt the snowball method to pay the debt off.

Cook meals at home to lower the food budget.

Balance transfer to a new card that has 0% intro for 12-18 months or consolidate loans.

How to manage money and move out – by mormengil

Put all your increased earnings into savings.

When you have enough, move out.

Start contributing 15% of your earnings to your retirement fund.

Buy a car when you have enough funds.

You can pay your security deposit, first and last month’s rent, and purchase furniture when you have done all these.

Learn how to save to avoid credit card debt – by korepeterson

Learn how to save money.

Know the difference between being able to purchase an item and being able to afford that item.

Just because you can purchase a car does not mean that you have the money for gas, insurance, and other maintenance on the car.

Create a goal.

Create a budget.

Set your children up for financial independence – monark824

Live a healthy lifestyle so that you will not be a burden on your kids later in life. Visit the hospital frequently, conduct annual blood work and exams, go for dental appointments, etc.

Staying on a budget will help you live a fulfilled financial life. So spend money wisely and live within your means.

Save for retirement.

Do not forget to invest.

Create a strong financial foundation for your children.

Keep track of your debit and credit – by Hmmletmec

Pull your credit reports. They are free to pull once a year.

You can get them from https://www.annualcreditreport.com.

You do not have to purchase anything from them or add-ons. All you have to do is click through the free stuff.

It will show you all the debts that have been reported to the credit bureaus.

Remember that it is possible for you to have debts out there that have not been reported to the bureau.

Keep track of all the companies you have used in the past.

Doing this will give you a detailed overview of what you are dealing with.

Paying your student loans – by zerogravitas365

If you can get a better yield on your savings (after tax) than the interest on the loan, then you do not have to pay your student loans early.

By doing this, you have greater flexibility as you stick to the agreed payment plan because if you need your savings, you can just spend them, and you do not need to apply for new credit.

All this depends on how much you are being charged for credit and the opportunity cost of not using the money for some other investment.


Reddit personal finance is one of the most popular finance sub-communities on Reddit, where things on student loans, investing, retirement, taxes, emergency funds, credit, debit, insurance, and budgeting are discussed. Reddit personal finance threads contain loads of valuable information that can help you in your financial journey. Through this subreddit, you can find answers to various questions that you might have, and in return, this will help you in your journey.

Reddit personal finance tips are great if you are looking to start your financial journey. The thread is a collection of people’s thoughts and advice on finance, and if you have you have your personal financial tips, you can go all the way to Reddit to drop your tips!

Vet all the discussions on Reddit personal finance because not all discussions might be right for you. Do not be afraid to start your financial journey!

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