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When to seek a financial advisor?

In times of economic downturn and recession, many people unbalance their accounts or fall into constant cycles of debt and unemployment. For many people dealing with money is not easy. If you are delinquent or want to restructure financially and have not succeeded alone, it is time to review your concepts and seek assistance from a financial advisor.

It is common for people to go to the bank manager for advice on more profitable financial applications or refinance the overdraft at lower interest rates, but a financial advisor goes beyond what the manager offers. He is responsible for further evaluation and outlines strategies for personal financial organization, always based on the profile and purpose of each client.


See the advantages of hiring a financial advisor

financial advisor

The hired professional has a broad view of the financial market and can apply his or her knowledge to the client’s goals, such as bringing experiences from others who have faced the same situation as you.

  • The bond is temporary and cheaper than a business expert, as the contract has set deadlines and focuses on possible customer failures. In addition to supporting inappropriate investments, it always values ​​its ethics and reliability;
  • Whether your goal is to settle debts or if you have a set amount and want to plan for the future, the consultant can help you cut wasteful and make better use of your resources;
  • The financial advisor has a holistic vision that goes beyond the client’s reality. He makes a thorough and critical analysis of the situation, aggregating information that includes, in addition to the flow of income and expenditure, the lifestyle, behavior of the individual and the dreams of the future;
  • Creates an action plan and its decision making is strategic, always aiming to increase the chances of achieving the expected goals.

In addition to looking for a financial advisor, some tips and changes in daily habits are very welcome when it comes to controlling finances. See some of them:


Create a spreadsheet with your financial advisor

On the internet you find applications and spreadsheets on finance websites that are very useful in controlling your spending. Make a note of your payables and receivables according to due dates, amount, and payment status, and make sure you keep your financial control up and running.


Record everything in and out

financial loan

When you view your goals and priorities in a spreadsheet, you create possibilities to see your financial future and take back control of your finances.


Book 10% of your earnings

Many cannot save that percentage, either by running out of control or by adopting a standard of living above income, which is, they spend more than they earn. But it is recommended to keep a monthly value for retirement or for any emergency.


Plan your spending


Think long and hard before making any big purchases. Check to see if there is cash in hand and if this amount will not be missing from your budget. Another important tip is to forecast seasonal expenses throughout the year, such as child registration, property tax and car overhaul. By predicting these expenses, you will know when and how much you will have to save in the quieter months.


Review Discounts on Plans and Services

Keep an eye on bank charges and gym plans that are not 100% discounted. Poorly used TV and telephone subscriptions can also put a heavy strain on the budget.

When hiring a personal financial advisor, ask for friends and relatives. It is important for the person to be experienced, reliable and to maintain absolute confidentiality of their accounts.

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