Financial advice can be expensive, but it’s often worth the cost. After all, who wouldn’t want to make the most of their money? However, not everyone can afford to pay for professional help.
With rising inflation and uncertain economic times, it’s more important than ever to make the most of your money. Millennials are especially at risk, as they face unique financial challenges that their parents didn’t have to worry about, including high levels of student loan debt and a tough job market.
Getting good financial advice is key to making smart money making ideas that will secure your financial future. But where do you start? How can you be sure that the advice you’re getting is sound and unbiased?
Luckily, there are a number of ways to get free financial advice. This article will outline five of the best methods for getting professional help without spending a penny.
Friends and Family
As the internet grows in popularity, people are turning to their family less and less. However, family and friends are a great place to start for free financial advice. You likely know someone who is good with money or has experience in finance. They may have gone through a similar situation and can offer helpful insight, or potentially offer moral support. Ask them about their tips and tricks for budgeting, saving, and investing.
Financial planners
Though most financial planners offer paid services, some will offer a free consultation. Look around for planners who specialize in your age group or income bracket — it’s their prerogative to offer more comprehensive services and advice for a price, but the best way for them to get you in the door is by giving out free initial services.
Financial planning is a complex process, and most people could use some help getting started on the right foot. A planner can help map out your financial strategy and create a plan to achieve them.
If you’re not sure where to start, ask family or friends for referrals to planners they’ve worked with in the past.
Non-profit organizations and government agencies
Non-profit organizations can provide valuable resources and information about financial planning. Government agencies such as the IRS, Social Security Administration, though not typically known for their financial planning advice, offer a variety of helpful services and programs. They can be great resources for learning about available tax breaks, how to create a retirement budget, and more.
If you’re looking for unbiased advice, your local government or non-profit organization may be a great place to start. However, keep in mind that these organizations typically don’t offer personalized advice, so you’ll need to do your own research to determine what’s best for your unique financial situation.
The Internet
With the rise of the Internet, many people are turning to the web for free financial advice. There are a number of websites that offer tips and advice on a wide range of financial topics, from budgeting and saving money to investing and retirement planning.
Some of the most popular sites include Money Talks News, Kiplinger, and Forbes.com. All of these sites offer articles, videos, and interactive tools to help you make sound financial decisions. They also have forums where you can ask questions and get feedback from other readers, if you’re so inclined.
Additionally, there are a number of websites that offer specific advice for certain age groups or life stages. For example, there are sites aimed at young people just starting out in their careers, retirees, and parents with children in college.
The best part about using the Internet for financial advice is that most of it is free! There are also countless amazing tools to help plan your financial journey, like invoice generators, tax form creators, and more. Just be sure to do your homework and read articles from a variety of sources to get a well-rounded perspective.
Books and magazines
Books and magazines are a great way to get financial advice. They can be found at your local library or bookstore. You can also find many online. That said, some books are geared towards a specific audience, like those for people who are just starting out or those who are nearing retirement, so be sure to read the reviews before choosing one that might not be written with you in mind.
Some fantastic books on the topic include:
- The Wealthy Barber, by David Chilton
- The Millionaire Next Door, by Thomas Stanley and William Danko
- Your Money or Your Life, by Vicki Robin and Joe Dominguez
- I Will Teach You to Be Rich, by Ramit Sethi
Though not all of these are free, check your local library to see if they have any of these titles before you purchase them. Magazines are also a great way to get free financial advice, with many publications offering tips and tricks for getting your money in order.
In Closing
As the economy grows more volatile by the day, an increasing number of people are looking for ways to get financial advice. The problem is that good financial advice doesn’t come cheap — and for many people, the cost of professional financial aid is simply out of reach. Use these tips to get free financial advice from people that know their stuff. Good luck!
