If you’re looking for financial advice, you have two options. First, you could make an appointment to chat with a financial advisor who will give you specific steps to take to understand your finances a bit better. Then they’ll give you strategies to lower your financial risk and build wealth. And guess what, it will only cost you about $150 to $400 an hour!
Don’t have an extra couple thousand dollars hanging around? The second option is to ask the people around you.
Financial Advice from Family and Friends is Free
…which can be a great financial decision all on it’s own. But don’t pat yourself on the back too quickly because you gotta pick your free financial advisors carefully.
Here’s how to choose a financial advisor from within your friends and family:
- Have they demonstrated the kind of financial success that you want to achieve?
- Do they have a track record for smart and responsible personal financial decisions?
- Can you trust them with the most sensitive details of your financial picture?
- Are they willing to take the time to advise you in improving your financial situation on an ongoing basis?
If you can answer yes to all of these questions you’re in luck – you just found yourself a free financial advisor. Now give yourself a swift pat on the back before we burst your bubble.
Finding out where to get Financial Advice for Free, is just the First Part of the Process…
Now it’s time for the person you’ve picked for free financial advice to ask you a bunch of borderline offensive questions so that they understand the nitty gritty of your situation. It’s an important step before getting any practical advice, but buckle up.
These are the questions that a financial advisor should ask
- What are your financial assets and liabilities aka how much money do you have, make, and owe?
- Where does your income come from?
- What’s the nature of any debts?
- What’s your credit score?
- What are your loftiest financial goals and your most terrifying financial fears?
Yes, it’s gonna get real…real quick so be sure you trust this person with these sensitive areas of your life. Oh and you better have buy-in from your significant other too because they’re going to be exposed in this process.
A worthwhile financial confidant will be honest and unwilling to sugarcoat your financial reality.
You don’t want to ask financial advice from family or friends who will tell you what you want to hear.
The advice might be free, but don’t be penny smart and pound foolishsaid in the voice of a Daddy Warbucks from Annie
Better to get the hard truth early so you can take the necessary actions and achieve your financial goals.
Have other questions about your long-term financial goals? Speak to one of our team members here…and our advice is always free.