Most people are struggling with their financial situations today. We all wish this fact weren’t true, but unfortunately, it is an issue we must take seriously.
We cannot ignore the state of household finances if we’re going to solve this problem for today’s families. Even if you’re not in a challenging situation, you likely know someone dealing with high debt, low income, or poor investment performance issues.
This problem requires a three-tier approach to find a solution: literacy, planning, and resource awareness. One of the best places to find information in these categories is at these online forums for personal finance and investing.
Best Online Forums for Personal Finance and Investing
The amount of money saved today directly impacts future financial success. Without proper investing and financial management strategies, it is possible that a person’s retirement age could be pushed back, have a reduced standard of living, or place strains on their lifestyle.
When you start investing early, even in your 20s, the results can build to reach a place where becoming a millionaire can become an easy reality one day. Dividends and interest compound, so you can easily save to reach your goals with enough time.
That advice is found everywhere online today. It’s what you’ll hear professional financial advisors recommending to most clients. Even so, the statistics show that more people are struggling to invest money.
Personal Finance and Investing Statistics to Know
- 34% of Americans currently have nothing in their savings accounts right now.
- Two-thirds of adults born after 1980 currently have nothing put away for their retirement savings.
- Over 70% of American families don’t have a written plan that they follow to help them navigate the complexities of personal finance and investing.
- Less than 3% of US households are using a 529 college savings account.
- 38% of Americans have revolving credit card debt that they struggle to manage.
- Even with student loan debt relief considerations, over 40 million people owe a staggering $1.56 trillion for their post-high school education expenses.
- 43% of student borrowers aren’t making any of their loan payments, making it harder to purchase a first home or manage emergency expenses.
What Are the Best Online Forums for Personal Finance and Investing?
Where do you go when you need relevant advice, guidance, or mentoring for your personal finance and investing needs?
The average family today lives paycheck to paycheck. Most people don’t even have $1,000 in the bank to use for discretionary spending. Instead of working with someone who doesn’t understand where you are, the following online forums offer a place where your questions get answers instead of judgment.
1. Personal Finance Forum on Reddit
This online forum receives about 30 posts per day. The conversations cover a wide range of topics, including out to get out of debt and manage your credit. You’ll find discussions about retirement planning, investing, and relevant advice to apply immediately.
Many of today’s most influential podcasters, bloggers, and influencers in the personal finance space are active here. It’s a great way to build your network, ask specific questions, or find the advice given to someone else that feels right for you.
The benefit of this forum is that anything goes. It feels a lot like having a frank conversation with your neighbor instead of working with someone who tries to tell you what you want to hear.
2. Morningstar Forums
This company is a financial services firm headquartered in Chicago. It was founded by Joe Mansueto in 1984, offering several investment research and management services.
When you hop onto the forums, you’ll discover several discussion groups that cover several topics in this area. Some of the best chains include mutual funds, picking stocks, and how to manage alternative incomes through your money management activities.
You’ll find an academy section, a separate knowledge base, and a blog to research if you prefer to find answers yourself instead of asking others. There’s a little bit for everyone here, which is why it’s one of the best online forums for personal finance and investing.
3. Bigger Pockets Forum
Although this online forum is meant more for landlords and property owners who invest in real estate, you can still find some excellent advice in the different conversations found here. The topics range from seller financing to where people found investment properties in the past year.
The only issue with this forum is that it can be a little difficult to navigate since the setup isn’t super intuitive. Once you get used to the navigational requirements, the information you’ll discover could change the way you think about REI.
4. Bogleheads Online Forum
This destination is named after Jack Bogle, who is the founder of Vanguard. It’s a community where you’ll find lots of information about low-cost investing, including long-term strategies that almost anyone can adopt. Topics include how to rebalance your portfolio, asset allocation options, and where to find unique ways to grow your wealth.
Its design is traditional, which simplifies the information-gathering process. You’ll even find a section for investors outside the United States that covers various theories and options for personal investments.
One of the best sections covers personal consumer issues. The conversations discuss how we spend our time and money, from mortgages to consumer goods, to understand where the next great opportunity might exist.
5. The Lemon Fool
This online forum for personal finance and investing receives about the same amount of attention as the one on Reddit. It’s a place where you can freely discuss ideas about stocks, bonds, and personal finance.
An extensive section of this forum is dedicated to green investment, which is a growing area in wealth management today. Generation Z is particularly interested in working with companies that use sustainable, eco-friendly processes while avoiding the issues of forced or child labor. You can find unique discussions in this category to expand or diversify your portfolio.
The forum also delivers plenty of great advice about retirement and property investment strategies to ensure you can stay out of the workforce if you’re ready to live the “good life.”
6. Oh My Dollar
This online forum feels more like a blog. You must provide an email address or continue with your Google login to access the information, so you can’t preview the advice for free.
The posting frequency isn’t high on this site, but the advice you receive is excellent. You’ll find many practical ways to stash some cash, including saving on utilities or maximizing returns when you have a spouse or partner.
There are also some networking opportunities, like a request to play League of Legends, or World of Warcraft with others. It feels personal, but it might not address the specific needs you have at this second.
Oh My Dollar is part of the Feedspot family of forums.
7. Reddit Wall Street Bets Forum
You’ll find plenty of threads on this forum that discuss the pros and cons of specific stocks and why (or why they aren’t) a great investment. Although the conversations are interesting, you can ignore them.
The real strength of this online forum for personal finance and investing are the links you can find to some excellent resources. It’s an excellent spot for those who love to independently research companies or opportunities by putting the information to review in your lap.
It’s also a place where you can find some investing memes that will give you a good laugh.
8. You Need a Budget Forums
YNAB is one of the best budgeting tools you can find for your personal finances. Their website includes a forum that specializes in how to navigate their software, but you can find some general topics on personal finance, budgeting, and investments.
One of the most significant issues families face today is the lack of a budget. People check to see if they have money left in their account, then decide if it is a good time to spend it. The information found here can help you avoid those issues by creating a plan for your incoming cash.
9. myFICO Forums
FICO® credit scores are the foundation of many lending decisions in today’s economy. Most people don’t realize that different loans access a variety of options – not just the one that you get from websites like Credit Karma.
Here’s the information you need to know about what FICO scores are used to make credit decisions today.
| Credit Score Need | Experian | Equifax | TransUnion |
| Free Access | FICO Score 8 FICO Score 9 | FICO Score 8 FICO Score 9 | FICO Score 8 FICO Score 9 |
| Auto Lending | FICO Score 8 FICO Score 9 FICO Auto Score 2 | FICO Score 8 FICO Score 9 FICO Auto Score 5 | FICO Score 8 FICO Score 9 FICO Auto Score 4 |
| Credit Cards | FICO Score 3 FICO Bankcard 2 FICO Bankcard 8 FICO Bankcard 9 | FICO Bankcard 5 FICO Bankcard 8 FICO Bankcard 9 | FICO Bankcard 4 FICO Bankcard 8 FICO Bankcard 9 |
| Mortgages | FICO Score 2 | FICO Score 5 | FICO Score 4 |
| Latest Credit Scoring Products | FICO Score 10 FICO Auto Score 10 FICO Bankcard 10 FICO Score 10T | FICO Score 10 FICO Auto Score 10 FICO Bankcard 10 FICO Score 10T | FICO Score 10 FICO Auto Score 10 FICO Bankcard 10 FICO Score 10T |
When you apply for a student or personal loan, the lender is more likely to pull FICO Score 8. If you are trying to buy a house, you’d want to focus on FICO Scores 2, 4, and 5 instead.
Visiting the myFICO forums ensures you receive the information needed to prepare your finances for your next investment.
You’ll find information about how the scores are generated, general credit topics, and features that let you see if your credit is currently healthy.
10. Saving Advice Forum
This online forum offers practical advice and tools for those who want to take control of their current financial situation. You’ll find where to get your credit score and credit reports for free, helpful podcasts to try, and how to structure your retirement contributions in practical ways.
You can subscribe to specific conversation threads, review the latest activity, or chat about different investment opportunities.
The conversations are available to read without providing any personal information. If you want to ask a question or give an answer, you’ll need to register with the site.
How Do Online Forums for Personal Finance and Investing Help Me?
76% of millennials say that they are not financially literate. When people don’t know how to manage money or invest wisely, money-related decisions can significantly impact an individual’s future. Online forums create a starting point where financial knowledge can eventually become wealth wisdom.
I wish that I could say I was an early saver. When I started my first job at 19, a 401(k) match was one of the benefits. Instead of putting a small percentage of my income back that my employer would match, I chose to take the funds in my paycheck.
It seemed like the right decision at the time. After all, I was still in college part-time, paying student loans, and dealing with a car payment. I felt like I needed every penny that was coming my way.
Looking back now, the money I saved over the years while working at that job would have made me a millionaire today with some good investment decisions and a little luck.
The good news is that it is never too late to get started. Even in your 40s or 50s, you can start saving and investing to create the retirement you want.
Perhaps your goal is to continue working. That means your wealth can transfer to your family one day, helping them to achieve their goals because of your efforts.
Paying attention to today’s financial statistics makes it easier to avoid becoming another one. Money doesn’t grow on trees, so you need to control your financial decisions. The forums in this guide can help you do that.
