9 Tips | How Reddit Personal Finance Can Help To Grow Your Wealth

Reddit personal finance really has some great information and it sounds like it might be living under a rock but recently found the personal finance sub section on reddit and it is amazing what makes it so good is that people can anonymously talk about things in their life and when you have that kind of Shield of privacy you tend to disclose.

A lot more personal information one of the best things you can do when you're on the Internet a trick that I learned is instead of just searching for something on Google and your search with Reddit meaning how do I invest in stocks instead of just like me Matt but how do I invest in stocks reddit and it will take you to Reddit in that subcategory that discusses just that and you'll get a lot of great information.

Tip: #1 Reddit personal finance

Paying $30 a month for old aisle of Internet which wasn't used for at least the last 10 years even. If you're the most financially savvy person. There is a tendency to miss all the useless subscriptions that we are paying for the new business model out. There is to subscribe to something and get that reoccurring payment and I think a big reason for it is because people forget that they're paying for it even when they stop using a service.

Reddit Personal Finance

Now think if you're paying $30 a month for something you're not even using that's a lot of money. Just immediately deducted out of your finances that you could keep an eye on fortunately out there. There are plenty of apps that do this for you one that I know of and use is called trim and trim can scan through your credit card payments and see what's are occurring payment.  It will show you all of them then you can figure it out yourself whether you want to keep that subscription or end it.

Tip: #2 Reddit personal finance

Stop freaking out over the word or a session what I learned was when these news places they use the word recession they scare you that you're about to lose a ton of money yeah it's just to get clicks and once you understand that they are just using the word or attention because that's how they pay the bills and that's how you lose out on compounding interest.

Because you sell your stocks you fear the recession go ahead and ignore that the best thing you can do to prepare yourself for the next recession don't overspend on things you don't need and save some money so when the recession hits you're gonna go ahead and have enough money hunker down to get through it research companies that hold up well during a recession so when they do dip you're gonna benefit from being able to buy a ton of them.

Tip: #3 Reddit personal finance

Quick reminder to not give away your salary requirement in a job interview. When you are going for a job. You're gonna get the question or you may not. That says what your target is for the amount you want to make in this position. Instead flip the question and say oh I would like to know. What the range of this job might be and that takes you out of the equation of throwing out a number. And now they can build their offer around that puts the onus on them.

Reddit Personal Finance

So they give you that range and now you can place where you think. You want to be in that range and a lot of people have success with it. They wind up negotiating for a lot more than. If they just would have set a flat outnumber because. Truth is a lot of us we undervalue what we're gonna bring to a company. And if you undervalue yourself in that salary negotiation you're gonna miss out on money. And if you stay at a job for three four years five years that money that you missed out on will add up.

Tip: #4 Reddit personal finance

Please for the sake of your wallet meal prep okay. So it doesn't sound fun you don't get to eat out in the nicest restaurant in New York City. But you know what you save yourself. A ton of money and if you have the discipline and you go to the grocery store. And you go ahead pick out your items and meal prep. You can find out that in one day you can meal prep for the week in about an hour or two. For most Americans that victory expenses are housing transportation and food. If you're able to slash one third of those expenses by meal prepping

You're off to a huge start there's a lot of reasons. Why people don't meal prep it's not fun and it is not cool to eat the same food all the time. But challenge yourself go in the grocery aisle make have fun. Would it pick out something that you normally wouldn't get and meal prep your food by doing this? You save roughly about fifty dollars a week now. If you have a spouse that's fifty dollars you save and that's fifty dollars. They save that now is $100 a week times four weeks you're looking at four hundred times that by twelve that's fifty two hundred in a year. That you will say buy meal prepping. Can you think of anything else that you can do with fifty two hundred personal finance?


Tip: #5

Save until it hurts then ease off I was on reddit and I learned about a gentleman. That was saving sixty six percent of his money per year. And I was like damn what does this do for fun. What's great about that is it allows you to save a lot of money and get to your financial goal. A hell of a lot quicker but the trick was when he eased off. Just ten percent of that his life was a lot more fun. there's a difference between being miserable saving every last penny never having any fun it's just the road to financial freedom should be enjoyable.

And if it's not think why not sometimes you just need to ease off a little bit and for this gentleman. 10 percent was that number you don't want to risk burning out on that journey. What happens when you burn out you might go ahead and splurge. I hit that point earlier this year.Than I was saving every single penny and then finally. I just cracked and I wouldn't on a consumer binge that set me back a lot more. If I would have just ease off the pedal.

I would have got to my hundred K a lot quicker than what I just did one of these purchases was this monitor. Behind me I don't regret it. I enjoy it but man was that such an impulse buy. But yeah don't be miserable as you do. It go ahead ease off the pedal there is a huge trend on the fire movement of. Yes people want to rush to retire early but you know what the incentive if it makes you miserable for twenty years. That's a big chunk of your life that you're living in that way. What if instead of 20 it took you 30 and you were a lot happier as you did it something to think about.

Tip: #6

I discover card to lower my APR just to see if they would. They gave me 0% for 12 months. I guess it doesn't hurt to ask this one is short. If you're paying for a service from a company and you've been loyal to that company. Don't hesitate to ask them for some money off or to discount their rates. I have the internet provider RCN I've been with them for a decade that is a really long time.

Recently I went online and I saw that they were offering new members who sign up $29. I was paying 60 so what I did was I called them up and I said hey I've been with you for 10 years and I'm thinking about switching to a different provider because the signup rate is $30 is there an incentive for me to staying without much push back. They gave me the $30 rate for the new subscriber member and they locked it in for two years you bet in two years. I will be calling again to get that same rate because I am NOT missing out on those savings.

Tip: #7

I sit like a baby since I adopted minimalism. If you look behind me other than this monitor. I don't own a lot of crazy things in fact. Once I started to clutter my life from consumer goods. That the only reason why I wanted to buy them was because they were the new I freed myself financially. I see a lot of younger people do this rather than old people. I don't know if I'm older young at this point but young people tend to see something new and want to be part of that community.

So bad that owns that product that they go out and they buy it when it actually takes them further away from their financial goals and in fact a big reason why that happens is the younger generation doesn't have a financial goal to begin with. They don't even know what's possible so they give their money away just to have the newest thing when I adopted minimalism. I realized that I am NOT defined by a consumer good.

From this reddit topic people saved a lot of money and they realized that they weren't any happier when they bought something new. In fact when they bought that expensive item it became an expense to keep up with it. Someone got rid of their car they realized they can just take public transportation in New York City that is HUGE. because it costs a lot if you want to maintain a car not only just the car payment but insurance finding a place to park it. If you're gonna pay for parking it's a lot of money yeah minimalism does offer you know less pending. But I found it also gives you a peace of mind I don't have anything that if it broke I would freak out maybe that but that's about it.

Tip: #8

The last thing that I learned off of Reddit and II personal finance field that I found was very impact. There was a flow chart someone created on how to spend and save your money in this post. One Reddit user provides a couple flow charts that illustrate the order in which you should spend your money one flow chart is incredibly simple. But I found it very useful the other flow chart is much more detailed and offers an in-depth strategy. When it comes to your spending now it is a lot this flow chart.

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