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How Financial Counselors Can Help You

financial counselors

When you’re having trouble with your marriage, you might see a relationship counselor. When you need help with your money, you might work with financial counselors. Although you might think of counseling as something you only need when you have a problem with debt, the truth is that financial counselors can help you with all aspects of your finances, from understanding what you’re spending and earning, to putting together a budget. Working with a financial counselor can be a good idea if you’re currently facing money problems or if you’d like to avoid any financial difficulties down the road.

Ways a Financial Counselor Can Help

Assess Your Financial Situation

When you speak with a financial counselor, they will ask a number of questions to get a sense of your financial picture. Questions they may ask include:

  • What you are earning and spending each month 
  • What debt are you carrying, including both secured and unsecured debt
  • The balances, minimum payments and interest rates on your credit accounts
  • Are you current or delinquent on your accounts
  • What, if anything, are you saving

All the information your counselor gets from you during the financial assessment will help him or her make the most appropriate recommendations to you.

Create a Budget

Another way that financial counselors help people is by assisting in the creation of a budget that works with their unique financial situation. Some people who are deep in debt find that creating a budget with firm spending limits is all that they need to pull themselves out of debt. Others might find that with some tweaks,  they actually earn more than they thought and might be better able to start focusing on financial goals, such as saving for retirement or establishing an emergency fund once they have a clear understanding of their expenses and income.

Creating a budget can be easy, it’s sticking to the budget that can be a challenge. A financial counselor can help you put together a plan for sticking with your budget, so that you avoid getting further into debt or avoid spending when you want to be saving or paying down debt.

Make Sense of Your Debt

Financial counseling can really help you when you are dealing with debt. A financial counselor will work with you to create the best plan for repaying your debt. Some people might benefit from a debt management plan, or working with the counselor and their creditors to create a payment plan that gets a person out of debt within a few years. Debt management plans aren’t the right option for everyone, but they can help people who feel overwhelmed by debt get their financial life back on track.

The financial counselors at CESI are ready to help you take control of your financial life. Whether you’re deep in debt or would just like to put together a plan for the future.

If you are experiencing financial difficulty and are looking for a solution, non-profit credit counseling can help you make sense of all your options. ​Contact us today for a free financial assessment with one of our certified credit counselors.

 

 

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6 Responses to How Financial Counselors Can Help You

  1. Corinthia Mintz says:

    I would like to create a budget, but I’m not sure where to start.

    • Tracy East says:

      Hi Corinthia – you can start filling out the form on our homepage at cesisolutions.org and it will direct you into our free debt analysis tool which will walk you through creating a budget. Should you ever need assistance, there are counselors available via chat or by calling the number on the page.

  2. Sandra Richardson says:

    I am a severe shopoholic. I am desperately trying to break free of this addiction. I do not have a job right now and am living off my savings. By my spending habits, I am putting myself in jeopardy of being out of money soon. I desperately want to live a simple life and pay Bill’s on time,and build my credit back up

    • Tracy East says:

      Hi Sandra – Thanks for reaching out! We’d love to connect with you and recommend some resources to help you with your debt and ongoing budgeting. Have you reached out to Debtors Anonymous? They can connect you with support resources in your area https://debtorsanonymous.org/

  3. Terry mathews says:

    I need alot of financial advise and help my family is in big trouble please help

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