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Reddit’s Personal Finance FAQ – Check It Out
Browse Reddit? If so (and even if you’ve never heard of it before), I recommend heading over to r/personalfinance and joining the conversation. It’s a thriving community of over 60,000 members helping each other succeed with money.
I’ve been reading r/personalfinance for years, and I’m always amazed by how helpful and genuine the community is.
Although everyone’s financial situation is different, the r/personalfinance FAQ does a great job of covering all the basics of personal finance for people just starting to get things together in the money department. Think of it like a crash course for beginners, and definitely give it a read before you start posting questions to the community. There’s a lot of good advice hidden in there.
For example, here’s what the community recommends that people who have built an emergency fund do next:
Reducing debts, credit cards, and loans as quickly as possible is generally the first goal after having some kind of emergency fund built up. To prevent paying the most interest, pay as much as possible against the highest interest debt first (generally credit cards). Some people prefer to pay off completely the smallest debt in order to lower the amount of money owed each month (this increases their monthly cash flow). Many people take a combination of the two strategies, the important point is to pay off as much of your debt as soon as possible.
If youlike what you read here, we definitely recommend you check out the Reddit Personal Finance FAQ.
Any questions? Leave ‘em below
Photo Credit: Eva Blue