Reddit Personal Finance Canada: Here’s How It Works

April 13, 2020
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Personal Finance Canada is one of the thousands of different subreddits you can find on Reddit. Created back in 2012, it provides Canadians with plenty of useful and relevant information about personal finance and building wealth. With over 130,000 active members, this online community encourages its users to share content about relevant finance topics. The main goal of Reddit is giving everyone a space where they can interact and learn from others with the same interests as them. If you have a financial doubt you want to clear, the Personal Finance Canada subreddit is a great place to ask.

Back in 2005 when Reddit was first launched, nobody knew how it worked, or what was all about. Nowadays, Reddit is one of the biggest platforms worldwide. People can log in this website and find a forum for almost anything.

It’s not a big surprise then that Reddit personal finance Canada exists. It’s quite simply a huge forum full of useful and valuable information. Today we’re going to take a look at it and how you can make the most out of this site.

What Is Reddit?

Let’s start with the basics: What even is Reddit? Reddit is a platform launched back in 2005 that's increased considerably in later years. It’s “the front page of the internet” as described by themselves.

To be more specific, Reddit is an online platform that houses thousands of different communities dispersed in various forums. You can find a community for anything: Sports, TV, memes, and of course, finances.

Reddit allows people from all over the world to connect and come together. It allows people to share knowledge and build an online community around their interests, whatever they might be. Truth is, if you like something, there’s probably already a subreddit for it.

At the moment, Reddit has 430 Million active users, over 130K active communities and about 21 billion screen views per month. Now imagine all of those people and all of that knowledge about personal finances. 

Reddit Personal Finance Canada: Get To Know The Forum

Now that you know what Reddit is, let’s talk about subreddits. That’s where you’ll find everything about Reddit personal finance Canada. You see, Reddit -the platform- is made out of hundreds of different forums. These forums are known as subreddits.

You need to think about the subreddits as a network of niche communities that are part of Reddit itself. Basically, each subreddit is a whole, independent structured niche forum that centers around a specific topic of interest.

In this case, the Reddit personal finance Canada is a place specifically created to share valuable, truthful information about anything related to this topic.

What The Subreddit Is About

The topic of personal finance includes anything from goal planning, budgeting, interest, banking, credit cards, insurance products, taxation, unique deals, and even tips for employment and other income sources. You can expect to find information about anything related to the national economic niche here.

Created back on January 2 of 2012, this forum currently has 168K subscribed members and around 2.5K online members that are constantly creating, curating and posting content on the forum, as well as participating in different discussions and answering pressing questions.

When you first enter the subreddit you don’t have to register to be able to see the posts and discussions going on. It’s an open, free forum that’s available for virtually anyone. You’ll see all the post on the timeline, and be able to even read the comments, or share the info on your social media accounts.

However, if you want to be an active member of the community, create posts yourself or even comment on the discussions already created, you will have to create an account and join the subreddit. 

Creating An Account

To register, you’ll have to create an account on Reddit and then go to the Reddit Personal Finance Canada and join the subreddit. This way, you’ll automatically become an active member of the forum and will be able to participate more. However, you can view and participate in a subreddit without creating an account.

This subreddit (as all other on the website) is made out of four different sections you can surf around. We will discuss these sections later in the article, but they are: the information section, the post section, the wiki section, and the moderators' section.

Subreddit Rules

Like we mentioned before, each subreddit is a whole independent world from the rest of the forums. Each one following its own set of rules meant to keep the information as organized and clear as possible so everyone can understand what’s going on.

You can find the rules for the Reddit personal finance Canada on the right side of the website. These rules are strictly about the posts on the site, what they can include, and what you should avoid if you don’t want to get banned.

  1. All posts must be about personal finance in Canada: This is a subreddit for Canadians looking for financial advice, and as such, every post and piece of information needs to be about Canada, otherwise, it won’t serve any purpose.
  2. All posts and comments should be helpful and respectful: Reddit is about creating online communities that support each other.
  3. No soliciting of any kind is permitted: Reddit doesn’t allow any types of referral links to be posted anywhere in the posts or comment sections. 
  4. No self-promotion: The Reddit personal finance Canada is not a place to promote your business, products or services, but rather a forum to promote discussion of personal finance and help Canadians.
  5. AMAS must be approved by moderators: AMAS or “Ask Me Anything” is a subreddit that allows users to ask important hot questions and get proper answers immediately. These types of subreddits must be approved by the moderators first before being published, otherwise, it will be taken down.

Keeping Things Civil

Through these guidelines, the forum makes sure every piece of information is relevant to the topic and everyone can get a proper answer to their questions, whatever they might be. 

Of course, there are other mentioned guidelines when it comes to creating a post or answering someone’s question. Since this is a subreddit about a very delicate (and sometimes complicated topic), moderators ask everyone to:

  1. Include sources: When you’re answering, make sure it is supported by reliable and relevant sources that others can confirm. You shouldn’t link back to any personal blog or base the answer solemnly on your personal opinion.
  2. Give an in-depth answer: Answering questions about personal finance can be tricky! So be sure to use a mix of context, examples, and explanation on your answers. Don’t settle by just copying and pasting a link with the answer in it.
  3. Be inquisitive: This subreddit encourages everyone to seek for more information. If you weren’t satisfied with the answers given to you, or you still don’t understand, be clear to ask for more and let people know you still need more information on the topic. 
  4. Welcome disagreement, but be polite: This is a forum, a place to learn and discuss different topics, so of course, disagreement is going to happen. So when it does, be polite and seek for an explanation instead of useless confrontation with other users.

If everyone follows these rules and guidelines, the subreddit will be able to continue to function as a reliable source for Canadian personal finance and keep on providing helpful information for everyone!

Reddit Personal Finance Canada: How Does It Work?

We have talked about Reddit, the subreddit, what you can expect and the rules, now let’s get to the real deal: How does this place work?

The first thing you’ll have to do is create your account on Reddit (You don’t have to just join the Reddit personal finance Canada, you can search amongst the over 7,000 different forums and join them too).

Every subreddit is divided into at least three categories:

  • Post
  • Wiki
  • Contact Moderators


Each subreddit depends entirely on the activity of its subscribers and relies on the participation of the community to keep on living. However, there're moderators for each subreddit. They are responsible for keeping everything in order, curate content, and make sure nobody violates the rules.

All moderators of Personal Finance Canada can be seen on the box at the right side of the website and their users are available for anyone to see and/or contact if necessary. You can even see what they have access to, and what part of the subreddit they work on (some are responsible for the Wiki, others for the comments, and some have full permission to manage every section).


This is the first thing anyone sees when you first enter the Personal Finance Canada subreddit are the posts. You will notice each post is a different block with a headline, a preview of the text, the number of votes, comments and the user name of whoever posted it in the first place.

You will also notice a pinned post at the beginning of the forum. Regular users can’t pin posts, this is something moderators do, and it’s usually about very important topics at the moment. Also, you can rank and filter the posts as you wish! You can do it by filtering through the hottest post, new posts or even top posts. You can even filter them by category depending on what exactly you’re looking for.

Posting in the forum is just as easy. Click on “Create post” and you'll be re-redirected to a new page, here you can fully customize your post, add images, links, hashtags and more.


The Wiki is the information hub of the personal finance Canada subreddit. In this section moderators complete the most relevant information and answers to frequently asked questions, so everyone can have access to it (even if you’re not a member!)

Keep in mind, the Wiki is a work in progress, meaning it’s constantly changing, evolving and adding new and relevant information. Everything is curated by the moderators before it makes it to the Wiki, but basically, everyone can contribute to it.

If you, as a member, have something relevant to add, you can always message one of the subreddit moderators with some new info to add to the wiki. For now, here’s the type of info you can find available:

  1. Introduction to personal finances.
  2. Past AMAs and AMA schedule
  3. Filing taxes in Canada
  4. Budgeting
  5. Random frequently asked questions
  6. Personal insurance
  7. Investing
  8. Passive investing
  9. Mortgages
  10. Credit & credit cards
  11. TFSA & RRSP
  12. Debt
  13. Understanding Your Paycheque
  14. Cryptocurrency

There’s also a full-on list of tools you can use to make your life easier when managing your finances and a budget survey you can fill up to help you manage your money in a much more effective way.

Of course, there are other subreddits you can check out as well such as Personal Finance and Financial Independence, two huge forums filled with useful information and up to date discussions.

Keep in mind, these forums aren’t exclusive to Canadians’ personal finances. But you will still find plenty of relevant info you can use on your everyday life to improve your finances.


This subreddit is a gold mine of information for anyone trying to manage Canadian finances in a better way. You’ll be in contact with thousands of people who have the same interest as you. Access to this knowledge is precious, and you should take advantage of it!

You can use filters to gather information on the topics you want to know more about. Or, dive into the comments of each post that catches your attention. You can also ask questions or create a post where everyone can join in. You'll be surprised by the amount of things you'll learn.

To make the most out of any subreddit, the best is to be an active member of the community. If you participate and comment, chances are you’ll gain valuable knowledge on personal finances in a very short time. 

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