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UK folk should head to https://www.reddit.com/r/UKPersonalFinance/ I've always been interested in personal finance, but this community has helped me learn new things and everyone is very supportive.
> Seven of the top ten results are trying to sell you something, which really makes you question the objectivity of the advice.
This is true when searching for pretty much everything in Google nowadays, that's why if you're looking for any info, searching on reddit usually yields much more objective and generally better results.
Reddit is a weird mix of mechanical-turk-search-engine and social media lite. It doesn't do anything except facilitate people doing things... To be clear, I'm not criticising reddit. I'm just saying, reddit isn't doing this, reddit is a tool for people to do this.
Facilitating people doing things isn't valuable?
I really like /r/povertyfinance though clearly those folks are often going through way, way more trying circumstances I am. I guess I'd be more interested in finances for the alienated precariat.
Yes! I have learned tremendously about personal finance from ukpersonalfinance. For anyone based in the UK, please go and read the content at https://ukpersonal.finance/ , it is invaluable for your future. Financial literacy for the millennial generation is my #1 recommendation for general life improvement. It doesn't matter what situation you are in: in debt; with lots of savings; lack of credit options; etc... You…
Seconded. You get generally quite well-informed discussion on /r/UKPersonalFinance, no pushing products or shallow reviews which is what you get if you try to Google same type of content. Also the discussion is two way, so you get to ask questions without paying hundreds to an IFA. In some instances you probably should speak to an IFA (or an accountant) for a holistic overview of your particular situation, but reddit…
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The group consensus seems to be to get the largest mortgage your bank will give you, buy an oversized car on a 7 year contract plan and fritter the rest on beer and takeaways. The best financial advice is usually drowned out by the consensus.
What? This is absolutely the opposite of the consensus advice you'll get somewhere like r/personalfinance. It sounds like you're completely ignorant of the subs in question, and just spouting off whatever comes to mind.
Yes! I have learned tremendously about personal finance from ukpersonalfinance. For anyone based in the UK, please go and read the content at https://ukpersonal.finance/ , it is invaluable for your future. Financial literacy for the millennial generation is my #1 recommendation for general life improvement. It doesn't matter what situation you are in: in debt; with lots of savings; lack of credit options; etc... You…
Earlier quoted context omitted.
What? This is absolutely the opposite of the consensus advice you'll get somewhere like r/personalfinance. It sounds like you're completely ignorant of the subs in question, and just spouting off whatever comes to mind.
I think tonyedgecombe is pointing out that relying on 'group consensus' is not a golden bullet, as the consensus revealed preference of the national population conflicts with the consensus advice of subreddits' self-selected populations
Not to mention what they're describing isn't a group consensus on financial advice, it's just the stereotype of lowest common denominator behavior. It's like suggesting that there's a group consensus that playing the lotto is sound financial wisdom just because a large number of people do participate in it.