By: Jovan Johnson, MBA, CFP®, CPA/PFS
Starting your first “real” job can be very exciting, yet very nerve-wracking. However, just know that you’re not alone, I can assure you that 99% of the world feels the same way. What will set you apart from the rest, is reaching out for help when you need it. It’s okay to reach out to those who have already experienced what you are going through.
Here are four very important resources that you can use whenever you need help with your finances:
Source #1: Family and Friends
One of the most easily accessible and underrated resources that can be used for free financial advice is family and friends. Even though you may not want to approach your parents about your current financial situation, they normally will provide very valuable advice since they have already been through many life experiences. Also, consulting your closest friends that may be experiencing similar situations may provide support as you embark on this financial journey. One downside to relying solely on your family and friends is that they tend to be biased, as they may not want to create conflict within your relationship.
Source #2: Professional Advice
We all live very busy lives and only have so much time. It is always a great idea to have an objective 3rd party evaluate your financial situation and provide tailored feedback and recommendations. Here are four experienced professionals we believe would provide you with valuable services:
1. Certified Financial Planner™ (CFP®)
When starting to seek financial advice, the best place to start is with a CFP® professional. These individuals will create a comprehensive financial plan detailing everything that will affect your financial life. Make sure you do your research well in advance when looking for the right financial planner. Most of these professionals offer different services with different fee structures, so be well-informed about what you are paying for and what to expect.
2. Attorney
When you find yourself in financial problems that may require legal advice, seek an experienced attorney to fulfill this role. For example, individuals must go through an attorney to complete the bankruptcy process. Also, since estate planning can be very complex, it is important to have an estate planning attorney to assist you with preparing legal documents. It is also very essential to become familiar with an experienced attorney, as they can provide great value throughout your life.
3. Certified Public Accountant (CPA)
If you are looking for tax advice or general financial advice, a CPA can provide valuable services. Also, if you or anyone you know owns a business, hiring a personal CPA is a necessity for your business to thrive. When you find yourself confused about your current financial situation, you can seek out a CPA for their services.
4. Life Insurance Agent
Although life insurance is the one thing we don’t want to think about, it is essential for your peace of mind. Insurance is crucial because it protects you from unexpected occurrences, without causing you to break the bank. Seeking a life insurance agent is something you will have to do at some point in your life; however, being protected sooner rather than later is always more beneficial.
Source #3: Attend Free Seminars
It’s FREE, so just go! The more knowledge you have about different financial topics, the more equipped you will be to achieve financial independence. Make sure you take notes and take advantage of the free resources available during these seminars.
Source #4: Social Media Activists
Social media is an easy way to get engaged and learn more about finances. There are many social media financial gurus such as Dave Ramsey, Robert Kiyosaki, Clark Howard, and Suze Orman. If you follow these individuals on social media, you are bound to learn tons of financial tips and advice that can change your life. Make sure to follow these individuals, as it’s free financial advice. As always, take advice online with a grain of salt, perform your own research to verify the tips given.
It’s okay to ask for help as you embark on your financial journey. It’s also okay to feel nervous or anxious about your finances; however, there are many professionals and others that are more than willing to help you no matter your circumstances. Don’t live your whole life without truly taking control of your finances. Take this much-needed step today!
