Crandi

4 Reddit Threads That Can Completely Changed How You Handle Money

Leo Migdal
-
4 reddit threads that can completely changed how you handle money

The internet is overflowing with advice on money, but sometimes the most powerful lessons come from unexpected places. Reddit, often known for its memes and heated debates, also happens to be a goldmine for real-world financial wisdom. Buried between threads on video games and relationship advice are some serious conversations that can reshape how you think about saving, spending, and building wealth. Some of these threads offer hard-won lessons, while others open your eyes to ideas you’ve never even considered. If you’re serious about getting better with money, some of the Reddit discussions online are worth your time. Scrolling through this thread feels like taking a masterclass taught by a thousand different mentors.

Some users talked about the power of living below your means, while others stressed the importance of investing early—even if it’s just a little bit at a time. The beauty of this thread is that it captures advice from every stage of life, from broke college students to retirees reflecting on decades of financial wins and losses. It’s a reminder that financial wisdom doesn’t always come from textbooks or seminars—it often comes from real experience. You’ll leave this thread feeling like you’ve sat down for coffee with dozens of brutally honest (and often inspiring) friends. This thread shines a light on the subtle, seemingly tiny choices that add up over time. Some Redditors mentioned switching to a no-fee bank account or canceling unused subscriptions, moves that saved them hundreds without them even noticing.

Others shared how automating their savings completely changed their relationship with money, making it effortless to build an emergency fund. It’s fascinating to realize that financial success often isn’t about making huge, dramatic moves—it’s about consistently getting the small things right. After reading this thread, you’ll be itching to audit your own habits for easy wins. This thread doesn’t just dish out advice—it reveals mindsets and strategies that aren’t always visible from the outside looking in. Many users pointed out that wealthy people often prioritize asset ownership over flashy purchases, buying investments rather than liabilities. Others mentioned the importance of leveraging credit the right way, using it as a tool instead of letting it become a trap.

What really stands out is how wealth-building isn’t just about working hard—it’s about thinking differently, making strategic choices that pay off in the long run. Reading this thread feels like getting a peek behind the curtain at strategies most people are never taught. Social media is flooded with money-making tips, wealth-building advice and all sorts of hot takes to help the average user finesse their finances — most of which should be taken with a shaker's worth... But after combing through a Reddit thread on "unconventional personal finance tips," CNBC Select ran some ideas by certified financial planners and other experts to hear their take. Here are the four personal finance tips they recommend as helpful for most people. Credit card rewards can do more than just help make that next vacation a bit more affordable.

They can be used to better your long-term financial health. Brian Walsh, a CFP at SoFi, has firsthand experience seeing this tip in action. "Most people I work with are much better off putting their credit card rewards toward their financial goals instead of on fun things like travel," he tells CNBC Select. For example, you can use the cash back from your credit card to fund your retirement account, grow your savings or pay down high-interest debt. If you use a credit card like the no-annual-fee Chase Freedom Unlimited® (see rates and fees), you'll earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and... You can then use those cash-back rewards to pay down your credit card balance when you redeem them as a statement credit.

This means your rewards are helping you live free from debt or reducing your monthly bills overall. New cardholders receive a 0% intro APR for 15 months from account opening on purchases and balance transfers. If you’ve ever spent any time on the Reddit personal finance threads, you’ve probably realized it can be a goldmine of information. How so? Because regular people ask questions on regular problems and the answers often come from people who’ve walked that journey before. Of course, it can be overwhelming because there's just so much information.

And then there are the people who make jokes and other less amusing comments. But take it from me; you can learn so much from fellow Redditors. Don’t believe me? We’ll take a look at some of the best Reddit financial advice below. But before we do, let’s do a quick Reddit 101. I know.

One look at Reddit’s front page, and it looks like it was designed by coders for coders. With phrases such as “r/,” upvotes, downvotes, threads, karma – a hot mess of random insider jargon. It’s hard to know what’s going on when you start. But don’t give up on it because the platform is incredibly powerful. It serves as an organized message board where communities of people with like-minded interests engage. The Reddit personal finance subreddit can be an interesting place.

Here are 7 threads I consider must-reads. If I ever go bald, know it’s because I tore my hair out every time I heard people say this. While it is true that when you buy a home a portion of your monthly mortgage payment will be going to principal, and therefore you are paying yourself in some ways, however, the cost... Some of the lesser known costs include the lack of flexibility, stress, the risk of home price declines, home maintenance, real estate taxes, and HOA fees. These are also known as phantom costs — the expenses you don’t normally consider when you buy a house. OP also offers a great mental reframing of rent, saying, “As human beings, there are several things we need to survive, including food and shelter.

Paying money for rent is no more a ‘waste’ of money than paying for food is.” CNBC, March 6, 2023 — Marguerita Cheng, CFP® Pro is featured in today’s article by Elizabeth Gravier, who writes, “Social media is flooded with money-making tips, wealth-building advice and all sorts of hot takes... But after combing through a Reddit thread on “unconventional personal finance tips,” CNBC Select ran some ideas by certified financial planners and other experts to hear their take.” Elizabeth shared four personal finance tips, including this one from Marguerita: Apply credit card rewards toward your long-term goals: Credit card rewards can do more than help make that next vacation a bit more affordable. Indeed, you can maximize rewards by using them for purchases you already know you’ll make (rather than using them as an excuse for additional spending).

If you plan on carrying a balance (which is almost never a good idea), any rewards you earn will be negated by interest fees. “Treating my kids is an important goal for me,” shares Marguerita. “I cash in rewards for gift cards so my younger kids can purchase something for themselves. Last year, my son and daughter were happy to be able to spend $200 each on Nike gear.” Desperate times call for desperate measures, and anyone who has ever been in dire financial straits knows this. You live well within your means while meticulously deliberating over your needs and wants.

As a result, you end up making the necessary sacrifices. Someone on Reddit described it as a “poor person hack,” and the discussion opened. People shared their most efficient money-saving tips during difficult times. And even if you’re doing well, many of these nuggets of wisdom are nonetheless worth noting. Scroll through, and maybe you'll pick up something new and valuable. If you have suggestions of your own, feel free to share them in the comments!

Need boxes for moving or organizing? Don’t ever buy a cardboard box, EVER (unless you need really big ones, I guess). Go to your local liquor store and ask for boxes, they’ll happily give you as many as you’d like, and they’re pretty sturdy since they’re made to hold heavy objects. Where I work there is always loads of empty boxes available and all employees can make use of them GOBankingRates works with many financial advertisers to showcase their products and services to our audiences. These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site. We are not a comparison-tool and these offers do not represent all available deposit, investment, loan or credit products. GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology. Looking for some financial advice?

Reddit can be a great place to start. Many Reddit communities, like r/PersonalFinance and r/Frugal, contain answers to questions you’re probably asking when it comes to managing money. A lot of the answers in these communities talk about big decisions users made that helped solidify their financial situations. GOBankingRates searched the top money communities on Reddit to find the decisions that users said made their financial health better. Read on to see if these can help you change your personal finance game. User AbominableRainbow said learning how to properly make a budget is the best financial decision you can make.

People Also Search

The Internet Is Overflowing With Advice On Money, But Sometimes

The internet is overflowing with advice on money, but sometimes the most powerful lessons come from unexpected places. Reddit, often known for its memes and heated debates, also happens to be a goldmine for real-world financial wisdom. Buried between threads on video games and relationship advice are some serious conversations that can reshape how you think about saving, spending, and building wea...

Some Users Talked About The Power Of Living Below Your

Some users talked about the power of living below your means, while others stressed the importance of investing early—even if it’s just a little bit at a time. The beauty of this thread is that it captures advice from every stage of life, from broke college students to retirees reflecting on decades of financial wins and losses. It’s a reminder that financial wisdom doesn’t always come from textbo...

Others Shared How Automating Their Savings Completely Changed Their Relationship

Others shared how automating their savings completely changed their relationship with money, making it effortless to build an emergency fund. It’s fascinating to realize that financial success often isn’t about making huge, dramatic moves—it’s about consistently getting the small things right. After reading this thread, you’ll be itching to audit your own habits for easy wins. This thread doesn’t ...

What Really Stands Out Is How Wealth-building Isn’t Just About

What really stands out is how wealth-building isn’t just about working hard—it’s about thinking differently, making strategic choices that pay off in the long run. Reading this thread feels like getting a peek behind the curtain at strategies most people are never taught. Social media is flooded with money-making tips, wealth-building advice and all sorts of hot takes to help the average user fine...

They Can Be Used To Better Your Long-term Financial Health.

They can be used to better your long-term financial health. Brian Walsh, a CFP at SoFi, has firsthand experience seeing this tip in action. "Most people I work with are much better off putting their credit card rewards toward their financial goals instead of on fun things like travel," he tells CNBC Select. For example, you can use the cash back from your credit card to fund your retirement accoun...