There are many resources to manage your money.
- Only 35% of respondents surveyed by Northwestern Mutual in 2022 had ever worked with a financial professional.
- Having a neutral, third-party opinion about your money management skills (or lack thereof) can improve your life.
- Finance professionals can help with budgeting, debt repayment, and planning for the future.
We live in the information age and it has become very easy to find help on almost any subject imaginable. rice field.
Since most of this information is free (like our personal finance resource here at The Ascent), you may be wondering why you should pay a professional for help. This is especially true if you are an average American and not part of his 1%. If you don’t have a lot of money to worry about, there’s no need to waste part of your money on financial advice. According to the Northwestern Mutual 2022 Planning & Progress Survey, just 35% of those surveyed turn to financial professionals for financial help.
I met a financial planner by chance on social media last year. We ended up trading professional services and with his help and sage advice I turned my finances around. I was able to work my way up and start saving money to buy a house. I know I couldn’t have been so successful without your advice.
back to basics
Financial experts have probably heard it all, so they won’t judge you no matter how bad you think you are with money (if you do, find a new one. learn from their money mistakes). If you’re struggling with money, a financial advisor can help you get back to basics by offering advice on budgeting and ways to increase your income. We are not always the best judges of our spending and saving habits. A neutral third party is well positioned to assess your current financial situation and provide tips and action plans to help improve it.
Being in debt is as American as apple pie. The average household debt in 2021 was $96,371, according to The Ascent. Despite what financial experts say, being in debt isn’t automatically bad. For example, if you take out a mortgage to buy a house that is going up in value, that debt can increase your net worth. if you couldn’t). Buy a house with all your cash without saving for years). That said, if you have high-interest credit card debt, it’s worth paying it off sooner or later, and a financial expert can offer advice and discuss the various options you have to pay off your debt. I can.
A major topic of discussion between my financial planner and myself was planning to buy a house. It was helpful to work out these numbers to see in black and white how much I needed to save and how much homeownership costs I needed to account for. If you need , an expert can help you find the “big picture” for yourself. It can be a big expense down the road, like buying a house, building a solid nest for retirement, or paying for your kids’ higher education.
Professional financial advice is for everyone, regardless of income level. If you’ve ever thought you needed help with money, I recommend finding your own financial advisor.
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