Free financial advice can save you money. However, most people want to know how to get free financial advice before they consult with a professional. Your bank can probably hold up a wealth of free financial advice information just waiting for you to tap into it. For instance, some of the free financial advice resources that your bank may provide can include:
o Budget calculators. The bank may be able to provide you with a personal budget planner. The calculator allows you to enter in the necessary figures and then it will spit out your results for you. The most common use for a budget planner is to help determine which forms of income can be used to purchase a home, how much money you need for retirement, how much insurance you should buy, and how much you need for investing. A human advisor on the other hand, can use the information you feed him to formulate a more complex strategy for investing in the market.
o Financial advisors. There are many independent financial institutions that provide you with free financial advice. These institutions tend to have expertise in various areas of finance such as investing, retirement plans, investments in business, mortgages, tax returns, and even tips on how to manage money over the long and short terms. Most of these institutions may also allow you to make a direct deposit into your account. The fees that are charged by these financial institutions will depend on how much money you make. There are also some institutions that operate completely electronically so that you don’t even have to meet with a representative to discuss investment strategies or other issues.
o Visiting your local bank. Most banks offer free financial advice and can help you set up your savings and investing programs. Some banks also have financial advisers who are available to walk you through the process of saving for retirement or investing your money advice. Most banks now offer Internet access so that you can get advice without even leaving your desk.
o Your personal finance websites. You can find free financial advice at some personal finance websites as well. These websites usually only contain information on investing or budgeting but could also give you other ideas on how to handle your money such as how to avoid becoming a victim of fraud or identity theft.
o A free tax advice service. Some government offices offer free tax advice services to people on low incomes. This service is usually offered for free and you would need to provide proof of age and residency. This advice can be very useful when filing your income taxes.
o Credit counseling. Free financial advice may come from some credit counseling agencies or non-profit organizations. These organizations can help you manage your debt and boost your credit scores if your scores are poor. If you want to rebuild your credit score, you should consider paying your debts off regularly and making regular payments to creditors. Most credit counseling agencies recommend working with them instead of opting for bankruptcy.
o A personal loan. If your finances are in bad shape or you need to consolidate debts, you may seek the help of a personal loan to consolidate your bills and pay for educational expenses. You may also consult your local credit union for possible credit counseling services. A Nerd Wallet member will have access to a personal loan with zero interest that could allow you to pay for unexpected emergencies.
o A complimentary financial planner. If you have a good rapport with your human advisor, he/she may provide you a free financial advice. It’s important to work with your adviser because your advisor knows your goals and situation better than any other person. A human advisor may also be able to guide you towards investments that will suit your needs. You should always work with an adviser who gives accurate, honest advice. You should never allow your human advisor to invest in a company that you know nothing about, or invest in investments that you don’t fully understand.
o Credit counseling. There are many free financial advice and counseling programs offered by government and non-profit organizations today. People who are experiencing financial problems can benefit from credit counseling. In this type of program, a qualified counselor will assess your situation, your goals, and how you can achieve them.
o Educational resources. If you are looking for a free financial advice and counseling program, you should consider working with educational resources. There are many educational resources available today, such as the Internet andovietalk. These educational resources are not for investment purposes, but rather for educating you on ways to control your finances.