Many individuals seek guidance on how to manage their finances effectively, especially when facing concerns about future stability. In a recent inquiry, a reader expressed the need for a financial advisor to help save money and address fears of potential homelessness. Financial expert Liz Weston provided practical advice for those in similar situations.
Utilizing Employer Resources
One of the first steps in locating a financial advisor is to explore resources available through employers. Many companies offer financial wellness programs that can include personalized counseling. Additionally, employers often provide access to financial advice through their 401(k) or other retirement plan providers. Engaging with these offerings could be an effective way to receive tailored financial guidance without incurring significant costs.
Seeking Accredited Financial Counselors
Another viable option is to consult an accredited financial counselor. These professionals specialize in various financial topics, including budgeting, debt management, credit, and retirement savings. As fiduciaries, they are legally obligated to act in the best interests of their clients, ensuring that any advice provided prioritizes the client’s financial well-being.
Many accredited counselors are affiliated with credit unions or military organizations, and some may offer services on a sliding scale, making them accessible to individuals with limited financial resources. To initiate a search for qualified counselors, individuals can visit findanafc.org, a dedicated platform for locating accredited financial professionals.
For those focused on debt repayment, the National Foundation for Credit Counseling (NFCC) offers assistance primarily aimed at helping individuals manage credit card debt. However, NFCC member agencies also provide valuable budget counseling services. Interested parties can utilize their budgeting tool available at nfcc.org/resources/monthly-expense-tool, which can facilitate a clearer understanding of personal finances.
Financial planning can significantly alleviate worries about future financial stability. By taking advantage of employer resources and seeking qualified financial advice, individuals can develop actionable plans to enhance their financial health. As Liz Weston notes, engaging with financial experts can lead to improved budgeting and savings strategies that empower individuals to secure their futures.
For further inquiries, Liz Weston can be contacted at her office address in Studio City, CA, or through her website at asklizweston.com.
