Can’t Afford To Hire A Financial Adviser? Copy The Things That People Who Do Are Doing & Become Better With Money
Working with a professional financial adviser offers a lot of perks. However, not everyone can afford or even necessarily need to hire one. According to sources, a one-hour consultation with a professional can set a person back around $100 to $300.
The number may appear too expensive but individuals who availed of these financial services are actually more likely to feel stable and confident about their personal finances and life.
Still, people who don’t have the budget to work with a financial adviser can make wise decisions when it comes to their finances by following some of the things individuals with financial advisers are doing with their money.
Here are some of them:
Hearing Out Objective Advice
Speaking with friends and family about one’s money troubles may be a good thing for venting out frustrations. However, it’s important to remember that the advice they can give is rarely objective and free of bias. Professional advisers don’t have any personal stakes in their client’s finances.
Thus, people seek out their services learn to set feasible goals for spending, saving and investing their resources all on their own terms.
Establishing an Emergency Fund
Financial advisers often recommend starting an emergency fund as one of the foundations of a good financial game plan. Having a reserve of accessible cash for emergency situations is a must before one can start working on building their savings or investing portfolio.
Spending a Raise Right
Getting a raise is always a cause for celebration. However, getting an expensive gift for one’s self may not be the smartest way to spend it and people who work with financial advisers know this. Instead of self-indulging, they are advised to put their additional income towards ramping up their savings.
And since they know their goals, these people already know whether the money will go to fund a down payment, add to their retirement or go to their kid’s college fund.
Being Smart with Investments
A recession is definitely something to get worried about. But people with financial advisers have been taught not to panic during at the event of one and make poor decisions out of speculation.
This means staying in the market despite seeing a downturn instead of selling off all their stocks. In the end, these people know the value of using the stock market to build wealth and how to make the most out of it.
Having a Game Plan
One of the things that good financial advisers help their clients with is in coming up with a game plan for their money.
So, in the end, these people walk away from the meeting with a clear view of their long-term and short-term goals and what they need to do to achieve them.
More inFinancial Advisor
Toyota Has Hit the 15 Million Mark for Global Sales of Its Hybrids
When it comes to hybrid vehicles, Japanese automaker Toyota tops the list of the best-known manufacturers of environmentally friendly cars. It...May 7, 2020
Going For Car Dealership Financing May Not Be Your Best Choice When Shopping For a New Ride
Going to a car dealer to buy and finance a car’s purchase may seem like a good idea at first. After...April 24, 2020
Living The Double Life: Famous Actors Who Also Like to Drive Racing Cars On The Side
Like regular people, Hollywood actors are multi-faceted individuals who enjoy a variety of hobbies and interests. However, they’re luckier than the...April 24, 2020
Prepare Ahead For Tax Season With These Last-Minute Tips to Reduce Your Dues as Much as Possible
After the merriment of the holiday season comes one of the most dreaded times of the year: tax season. While filing...April 24, 2020
Picking a Credit Card Provider This Way Can Help You Make The Most of Your Purchases
The great thing about credit cards is that they offer their users rewards for simply buying things or services with credit....April 24, 2020
Check Out This New McLaren Roadster That Looks Straight Out of a Batman Movie
The British automotive manufacturer McLaren has been in the business of making cool cars for decades now. And they seem to...April 23, 2020
These Are The Absolute Worst Financial Mistakes Experienced Advisers Have Seen Their Clients Make
Mistakes, although they are setbacks, can serve as opportunities for learning for those who make them and even observing bystanders. The...April 23, 2020
Raising a Child Is Costly–This Is How Parents Can Cut Back on Childcare Expenses
Statistics show that the cost of raising a child has consistently risen over the decades. In fact, the average American household...April 22, 2020
These Are The Secrets to Retiring Early, According to People Who Are Actually Living The Dream
There is a new movement getting traction, especially with millennials, in the past years called FIRE (financial independence, retire early). And...April 22, 2020