Are you in deep financial trouble? The moment you decide to seek the help of a professional, the first thing you turn to is the internet. The web offers a wide range of advisory sources for financial information. You do this in the hopes of finding the right person to guide you as you try to restore your finances in order. But you have to be extra careful when you find free financial advice online. You do not want to get into deeper financial ruin for taking the advice of someone with the same qualifications as you do.
When evaluating where you get free financial advice online from, there are a few things you ought to consider.
Is the person certified?
There are some professionals who are experienced and an expert at their field that offer free financial advice online. But there are also some who claim to be professionals in the hopes of extracting a few dollars from people who are desperate. Make sure you are able to discern which of the two you are dealing with.
First off, verify the person’s educational background and list of qualifications. They should have background and education when it comes to financial planning. Moreover, they should also be recognized by any of the top organizations in the industry such as the National Commission for Certifying Agencies. The person whom you are dealing with should either be a personal financial specialist, chartered financial analyst or certified financial planner. In order to earn these titles, a person must study for several years. When you are getting advice from them, you can therefore guarantee that they have the qualification and expertise to do so.
How do they charge for their advice?
Simply put, there are two categories in which they could fall under: free or paid. Some experts require a fee-for-service type of compensation structure when giving out advice for their financial expertise. Since you are already in deep financial trouble, you want to make sure and validate their expertise. You would not want to be paying someone for an advice that a friend of yours can give. It should be substantial enough to make it worth the investment you made.
Meanwhile, you can also find several sources for free financial advice on the web. This is a bit sketchier to deal with. Since it is offered for free, there is no commitment on the part of the financial advisor because you are getting their advice for free. Some really top financial professionals give out free consultation from time to time. If you can find ones who are reputable within your industry and area, then do take advantage of them.
When getting advice on your financial matters, whether free or not, what you do with the information is still the most important factor of all. If you get the best advice from a top financial expert, if you do not adapt that into your life, then nothing will ever change about your situation. Taking advice is a good first step though; it means that you recognize the situation enough to want to make changes.