Are You Getting the Best Possible Financial Advice?



Managing money is like earning a lifelong education. Just as you believe you have it mastered, another financial complication challenges your understanding of what it takes to be an effective personal financial manager.

At each stage of your financial life, success requires attention to an increasingly widening set of financial concerns. How does a mortgage work? Where should I put my retirement savings for the greatest returns? What are the current pension rules? As these and other questions present themselves, it is up to you to gather the facts, learn the fundamentals, and make the most of your financial resources. But conditions change frequently, so keeping-up with economic trends and financial best-practices can be a daunting task, particularly for those individuals without a background in these areas. Fortunately, various organizations are ready with sound financial advice, when you need it most.

Keeping Up With Finance Trends

Financial understanding builds upon itself, as your mastery of finance increases. But with so many different aspects to keep track of, it is easy to get lost in the details. Consider a house purchases, for example. While it may not be a once-in-a-lifetime financial concern, you probably won’t go through the process very many times during your lifetime. As a result, you may briefly become an expert at house buying, before letting-go of the knowledge, once you’ve closed the deal. The same cycle plays out in other areas too, leaving you at a disadvantage navigating a sometimes uneven financial landscape.

For the best possible outcomes, particularly with troublesome debt, you may need to seek help resolving financial issues. Thankfully, with so many reference resources available, solutions to your financial dilemmas are not far away.

Debt and Budgeting Help

Citizens Advice – Looking for confidential and independent advice about debt and money management? Citizens Advice helps people face and overcome financial difficulties. Among the many services offered by the organization, Citizens Advice maintains informational Web pages – visited 43 million times in 2016-17. The information highlighted by the group is concerned with wide-ranging economic and financial issues impacted consumers, including the opportunity to search citizensadvice.org.uk for trending topics of timely interest.

Debt Advice Foundation – This organization’s name captures its mission. Dedicated to providing free advice and counseling for struggling debtors, the Debt Advice Foundation is a nationally registered education and advice charity, providing tools and insight for more effective money management. Consulting with the group can help you understand available options and guide you to the best debt solutions for your circumstances. In particular, the organization is familiar with strategies to head-off some of the consequences of problem debt, helping clients:

  • Reduce monthly payment obligations to affordable levels, based upon income and level of outstanding debt
  • Protect assets like your house from creditors
  • Prevent creditor action on delinquent debt

Contacting a debt helpline advisor before problems spiral out of control gives you the best chance of turning things around. Debt Advice Foundation representatives are prepared to discuss bankruptcy, debt management plans, consolidations and other relief alternatives.

Finance Information

Lending markets change frequently, responding to global economics and other financial trends. As you plot your financial course, staying current with rates and borrowing alternatives furnishes valuable insight, enabling you to make the best financial decisions, based upon economic and market conditions. Sites like readies track trending rates and terms for payday loans, guarantor loans, unsecured personal financing, and other commonly used financial products. Such resources are useful when fast financing is needed, but checking-in periodically can also help you stay tuned-in to financing possibilities.

When shopping for a mortgage, you’ll want to compare not only the interest rates available for a person with your credit history and house deposit, but also the cost of administering the loan and closing the deal. Failing to consider these costs, as well as the price for insurance cover and other requirements can leave you without adequate resources. For the most up-to-date information about the true cost of mortgage lending, consult online resources first, to narrow your search, then approach lenders directly with your finance questions.

Moneywise Charities

Christians Against Poverty UK carries a strong social commitment alongside its mission to educate and assist people facing financial problems. As a result, the humanitarian group strives to provide emotional support and encouragement, as well as practical financial advice. The group’s efforts inspire hope and real results in families struggling with high credit card balances, housing and repayment arears, unemployment, and other financial challenges.

Civil Legal Aid may be able to help you address actions associated with poor personal credit management. Not everyone is eligible, but under certain circumstances legal aid is available to help protect you under financial duress. It is always better to resolve inconsistencies directly with creditors, so whenever possible, work with lenders to rectify repayment problems – before the matter makes it to the legal system. A tool available on the gov.uk website can quickly determine whether or not you qualify for assistance with your case.

Staying on top of your personal finances is a lifelong commitment, so you should expect to encounter unfamiliar territory along the way. Fortunately, when financial challenges set in, various debt charities and financial advising services are available to help you sort things out. For trouble-free outcomes, avoid paid debt management services, instead leaning on the resources listed above and other legitimate organizations devoted to your financial well-being.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

Leave a Comment

Your email address will not be published. Required fields are marked *