CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day 20 of 30.
Many financial tasks can feel solitary: You often select investments, cut line items from your budget and pay bills on your own (or with one other partner). But that doesn't have to be the case. If you're comfortable reaching out to others, there are plenty of money communities you can join to talk through financial issues and goals big and small.
Having some sort of financial community is beneficial for the same reasons talking about money with your partner or friends is: You feel supported and less alone. Money is a highly emotional topic for many people and can often be confusing and frustrating. And now, with so many people out of work or fearing job and income loss, talking to others and asking questions, or simply reading about what others are dealing with, can ease stress or inspire you to reach your goals.
Today, take a few minutes to search for a money-related community or group to join online. Start on social media sites like Facebook, Reddit and YouTube where there are countless niche communities to join, depending on what appeals to you and your financial behaviors.
No Spend groups and channels help members curb their buying impulses, while investing groups can teach newbies the basics of building a portfolio.
Some popular podcasts offer their own financial off-shoot groups, in which people offer each other advice and encouragement in a small, judgment-free environment. There are also plenty of general personal finance groups, like NPR's Your Money and Your Life Facebook group.
To get started, here are a few groups to check out:
- Bogleheads forum
- CNBC Make It YouTube page
- Financial Independence subreddit
- Friends of Vanguard Facebook group
- Investing subreddit
- Personal Finance subreddit
- Poverty Finance subreddit
- She Spends Facebook group
- The Moneyist Facebook group
- Your Money and Your Life Facebook group
You don't need to check in with your community every day, just as often feels natural and helpful for you. But remember, every community requires give and take. Lean on other members, but contribute your own insight, too.
Don't miss the past five days:
- Day 15: A 'care budget' will help you support yourself and others without being overwhelmed
- Day 16: Use your FSA or HSA funds for over-the-counter medications and feminine care products
- Day 17: Are you missing money? Don't forget to get the refunds you're entitled to
- Day 18: Find a better bank account
- Day 19: Take one thing off of your to-do list for the coming week
Check out: The best credit cards of 2020 could earn you over $1,000 in 5 years
