10 Random Money Tips I Learned from Reddit

I only came to Reddit last year. It’s a platform that contains a collection of forums where people share comments and content based on the particular subreddit’s interest. And oh I enjoy being there, I’ve learned many interesting stuff including financial advice and tips.

Some of financial subreddits on Reddit:

1. r/personalfinance – Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
2. r/financialindependence – For people for are or want to become financially independent, which means not having to work for money.
3. r/PFtools – Personal finance tools useful for getting out of debt, budgeting, saving, investing, and managing your wealth.
4. r/FinancialPlanning – Discuss and ask questions about personal finances, budgeting, income, retirement plans, insurance, investing, and frugality.
5. r/povertyfinance – Financial advice, frugality tips, stories, opportunities, and general guidance for people who are struggling financially. No Judgement, just advice!
6. r/sidehustle – For those who are interested in making money on top of another full-time commitment.

And here are some of money tips from fellow Redditors.

1. You are not “family” to your company

Similarly, put yourself first and your job second. Take all the annual and sick leaves you’re entitled to.

2. Don’t give away your salary expectation in job interview

Ah this is the mistake that I made in applying for my first job (also my current job). I gave away my exact salary expectation and I got it. Then I came to find out that I could actually ask for higher. But I negotiated for a better increment afterwards.

3. Being poor is expensive

For the longest of time, I only bought cheap shoes. But those shoes keep tearing apart after 2 3 months. Then I started buying shoes pricier than my usual price tags, and indeed, they last longer.

4. Set a threshold balance in your bank account

Ah this one. Before my no buy year, RM50 used to be my usual minimum balance in my bank accounts. Now I’m happy to say my minimum threshold has increased to RM1,000.

5. Don’t put off life for money

A great reminder. That’s why I don’t mind spending money on things, people and experience that brings me joy because you don’t know how long you can enjoy life and be alive. Have to be careful though, can easily justify all purchases and spendings as “bUt tHiS bRinGs mE jOy”.

6. Be more positive at work

Can be applied in other areas of life as well. Be more positive. Fullstop.

7. Do not share sensitive financial information with others

Discussed this with my friends the other day and apparently it’s fairly common to have such issue in extended family. The more well-off uncle/aunty/sibling/relative would often face problems with other family members who keep asking for money just because ‘you got more money you should help’ and would take issue when it’s not given.

8. Spend extravagantly on things you love, and cut mercilessly on things you don’t

This kinda became the core of my no buy year rules last year. I cut mercilessly on my other expenses, while still spending money on activities, hobbies and experiences. And oh books. Have to change my rules for books, oppsie.

9. Spend money on things that make you happy

Same concept as #8. For example, this year I happily spend money on facial and hair treatments because that’s how I pamper myself hehe.

10. Create a financial directory in case you die unexpectedly

This one is gold. Putting this on my to do list.

All in all

So yes, financial advice and tips can be learned from anywhere and anyone! And Reddit is one great place to learn informally about money, often from others’ real-life experiences.

Or you can learn from my stupid mistake experience…

Let’s continue figuringgitout.