Here are the 5 smartest financial decisions we found on Reddit

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These are the financial movements that impressed us the most.


the main points

  • Redditors often share smart money decisions that can help you handle money better.
  • These decisions include avoiding relationships with big spenders and not having children until you are financially ready.
  • Some Redditors have also recommended planning for the hidden costs of major expenses and investing in their health.

Not everyone realizes this, but Reddit can be an excellent source of financial advice. There are a lot of subreddits dedicated to personal financingThe most helpful comments are usually voted at the top. If you want to get better with money, read on for the smartest financial decisions we could find on Reddit.

You won’t find the usual tips, like saving money every month or Pay off credit card debt, in this list. These are great recommendations, but we looked specifically for financial decisions that don’t get talked about much.

1. Avoid relationships with big spenders

The two main factors in your financial success are how much you spend and how much you earn. If you spend all or most of your earnings, you won’t be able to save much money.

Quite a few Redditors have gone for the ways of living below their means. What really stood out was the decision to avoid relationships, including friendships and romantic relationships, with people who spend a lot of money.

To clarify the relationships between spenders and savers can work, provided that the differences are not too extreme. But with big spenders, it’s going to be tough. When your friends or significant other always want to do something expensive, it can piss you off. It’s much easier to stick to your spending plan when the people closest to you aren’t pulling you in the opposite direction.

2. You do not have children so you can provide for them

When you have kids, life gets a lot more expensive. In fact, recent data now shows just that It costs $300,000 to raise a child in the United States of America. It’s a huge financial commitment, and one that lasts for decades.

Redditors recommend waiting to have kids until you’re in a good financial position. Things don’t have to be perfect, and there’s definitely more to parenting than how much money you spend. But being comfortable with the money will make your job as a new parent easier and Reduce financial stress.

3. Plan for hidden costs

Many expenses come with hidden costs. These are additional costs that are not part of the purchase price, so people often fail to plan for them. There have been many great examples on Reddit of hidden costs to plan for.

The houses are big. Some homebuyers only look at how much their mortgage payments will cost to decide if they can afford it Buying a home. They don’t think of everyone else Home ownership expensesincluding repairs, maintenance, real estate taxes, and homeowners insurance.

Vacations are another example of people underestimating how much they will spend. Some travelers base their budgets solely on the cost of their flights and hotels. But you also need to plan for other costs along the way, like eating out and paying share fees or taxis to get around.

4. Invest in your health

“Invest in yourself” is common financial advice. Usually, this refers to improving your skills and knowledge.

A good variation on this idea is investing in your health. Medical issues It can be expensive, and is even one of the most common causes of bankruptcy. If you live a healthy lifestyle, you can reduce the risk of this.

Many Redditors are investing in their health by buying nutritious foods and staying away from harmful products, like cigarettes and fast food. There were also many Redditors who mentioned spending on quality shoes. Although shoes can be pricey, it is worth spending enough to get a comfortable pair. Your feet and the rest of your body will thank you for it.

5. Spend more and buy less

Some Redditors found that taking minimalist approach Help them save money. Instead of buying a lot of mediocre products, they’re buying fewer high-quality products that will last.

Take your wardrobe, for example. You can choose some well-made assorted items that you can combine into different outfit combinations. These may cost more individually, but you will likely spend less in the long run than you would on cheap, poorly made clothes. You can use the same technique in other aspects of your life as well.

Personal finance subreddits can provide a lot of clever and unique ideas. These five are our best picks, all decisions that can be a huge help to you financially.

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