If you happen to look past the memes, cat movies, and quirky acronyms (TIL, OP, ELI5) you’ll discover a treasure trove of sources that may make it easier to shortly get acquainted with the subjects which have lengthy eluded you. For me, although I labored on Wall Road for almost 15 years, Reddit is the primary place I flip when I’ve a query about cash. Khe Hy writes on Quartz:
To me, right here’s what makes good monetary recommendation: objectivity, accuracy, and relatability. With an alien mascot named Snoo, an impossibly sprawling website construction, and person anonymity, Reddit could appear to be an unlikely place for the intense enterprise of cash. However in actual fact, it has every of those qualities in spades.
In line with Amazon’s Alexa, Reddit is the sixth hottest website within the US; the location reported 430 million lively customers on the finish of 2019. Reddit is organized into area of interest communities (referred to as subreddits that start with “r/”) with their very own pointers, norms, and moderators protecting each mainstream (r/kpop) and obscure (r/namenerds for brand spanking new mother and father looking for inspiration) subjects. As a result of customers self-select to be lively in these communities, Redditors are identified to be passionate and have been described as “offbeat, quirky, and anti-establishment.” All these qualities make it an ideal place for conversations about cash. Think about the subreddit Frugal Residing (r/Frugal), which reveals what permits Reddit to supply higher monetary recommendation than lots of these different websites: the Redditor neighborhood. Frugal Residing’s mission assertion is to “perceive the sources that now we have, and [how to spend] them properly and intentionally” and this subreddit incorporates actionable tips about eking out that final little bit of toothpaste, warnings that Amazon Day is pure advertising and marketing, and why you shouldn’t pay for scientific journals. These posts supply encouragement, collaboration, and a relatability that’s onerous to seek out within the conventional monetary press, regardless of your monetary state of affairs. […] One last phrase of warning: regardless of whether or not monetary recommendation comes from the entrance web page of the web or the entrance web page of the Wall Road Journal, it’s incumbent upon the client to scrutinize the main points, lead with skepticism, and, when applicable, seek the advice of with professionals.
Among the communities that may make it easier to with private finance on Reddit embody: Private Finance, Frugal Residing, Investing, Monetary Independence / Retire Early, and Shares.