This remind me of famous:
> When the shoeshine boys talk stocks it was a great sell signal in 1929
https://archive.fortune.com/magazines/fortune/fortune_archiv...
Reddit has become a guide to personal finance
151–160 of 417 posts
Re: Reddit has become a guide to personal finance
#152I think a much bigger point can be summarized with this sentence from the article: > 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.
I didn’t think much about it, but now that you mention it, I’ve been typing “reddit” after my google queries almost every time I search for something that isn’t a technical problem or me looking to buy something.
I've been doing the exact same thing for quite some time now. Google is filled with so many garbage results. For most things I want to see short and sweet answers by real people.
Just yesterday I searched for "index funds vs etf reddit", as I'm really new to any sort of investing. The first reddit result on google has a simplified response that is to the point.
Now try searching google for "index funds vs etf" and the results are littered with investing sites and long lists of information, that is more than likely helpful, but much more verbose.
Re: Reddit has become a guide to personal finance
#153I think a much bigger point can be summarized with this sentence from the article: > 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.
> that's why if you're looking for any info, searching on reddit usually yields much more objective and generally better results. Agreed, I often default to Reddit or HN for a lot of stuff although there are an increasing number of obvious adverts disguised as genuine posts (see r/hailcorporate for some examples). More difficult to spot are marketing firms who curate a bunch of fake accounts, make them seem like "rea…
I'm pretty sure I ran into an MLM that does this. They said they do "network marketing" with "social media" and represent big brands like Nike. I met with someone a couple times, but didn't continue to their seminar or whatever because they wanted me to do more than I was willing to do (in this case, get my wife to read a book and bring her). My guess is that you get paid based on some combination of your number of posts and your connections' posts.
It would be interesting to get an idea of what percentage of posts are from marketers.
Re: Reddit has become a guide to personal finance
#154Personally, I would rather ask questions on the Personal Finance & Money community at Stack Exchange, and watch videos on YouTube but to each their own.
Re: Reddit has become a guide to personal finance
#155Must admit, reddit got me caring more about my finances. It seems not many people are taught about money properly. I certainly wasn’t and non of my friends where. I’ve always been good in that I never spent what I didn’t have and lived within my means. What savings I did have where in a zero interest current account though! Following the finance Reddit’s at least put me in the right path. 6-12 months cash savings now…
Do you mind sharing the subreddits?
not a subreddit but I cross-reference bogleheads wiki and /r/personalfinance wiki anytime I want to look for consensus or diverging opinion. Bogleheads still has a slight edge on /r/personalfinance for its specific topics.
Re: Reddit has become a guide to personal finance
#156Sadly Reddit is locking down the personal finance subreddit behind their app so they can monetize it better. I find this article to have interesting timing as the readership on that subreddit must be going way down nowadays.
Works great in RedReader and it's much better than dumpster fine that Reddit own app is.
Re: Reddit has become a guide to personal finance
#157Yes! 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…
>Yes! I have learned tremendously about personal finance from ukpersonalfinance.
I would not be so vigorous in endorsing any subreddit, especially not one that is related to financial matters. I will attempt to frame my salvo, with the express intent to inform. No money was lost.
After trying to subscribe to Freetrade and Trading212 (Robinhood equivalents). I was unable to register with the former ─ a bug they mention regarding deep links in their FAQ, referencing an older version of iOS. I followed their instructions on troubleshooting, without any success ─ found an arcane way to get to the chat session (really hard, without being subscribed to the service), which resulted in no action. However, it was really surprising to find out that asking for help in this subreddit, where this app is held in high regard, elicited no response and only downvotes. Always assume some inherent bias, where money is concerned; don't follow blindly and stumble across problems, after the event.
Re: Reddit has become a guide to personal finance
#158This remind me of famous: > When the shoeshine boys talk stocks it was a great sell signal in 1929 https://archive.fortune.com/magazines/fortune/fortune_archiv...
2020 edition: when the news is quoting /r/wallstreetbets it might be a sell signal
Re: Reddit has become a guide to personal finance
#159This remind me of famous: > When the shoeshine boys talk stocks it was a great sell signal in 1929 https://archive.fortune.com/magazines/fortune/fortune_archiv...
I had non-technical people coming to me asking if I knew how to mine "bitcoins" right before the the crypto bubble popped. If I had any left it would have definitely been time to exit the market.
Re: Reddit has become a guide to personal finance
#160Reddit is truly amazing, such that I've mostly replaced my usage of hackernews with it. I have serious issues with anxiety, and the inability for me to filter out content related to "current news" aka "clickbait fear mongering" means when I surf hackernews for too long I'll be upset for hours afterwards as I'm riled up with current events rewritten as FUD. Reddit can be filtered by subreddit, so I've got a view with…
In case you're unaware, you can create multireddits, by appending subs (e.g. r/art+painting) and then save those.
I have multireddits set up for whatever mood I'm in (e.g. gifs of cool things, text stories, finance, news, etc.)
r/multihub has some good collections.