The use of social media tools has transformed the way individuals and businesses communicate. To increase market share and attract as well as retain customers, businesses are using social media platforms to add value to their products and services. One area in which many social media tools have been developed is Personal Finance investing. The purpose of this research-in-progress exploratory study is to investigate the diffusion of online communities and social media for personal finance investing by consumers, and their perceptions regarding use of these platforms. An online community of 131 members was surveyed on personal finance investment topics. A qualitative inductive approach was used to investigate member perceptions of social media communities, advantages, disadvantages of sharing and engagement prospects in a community, and features of social media considered most valuable by members. Results of this study will benefit consumers and investment provides looking to leverage social media tools for personal finance and investing.