Proverbs 15:22 says: Without counsel purposes are disappointed: but in the multitude of counsellors they are established. KJV
The  English Standard Version puts it like this: “Without counsel plans fail, but with many advisers they succeed.”
The best way to maintain your finances is to prepare a budget and know where all your money is going. But getting it all straight can sometimes be difficult. Sometimes it is wise to call in a little outside help. This could be in the form of a trusted friend, relative, or professional.
You may consider consulting a financial expert or credit counselor who can give you all types of additional financial information. They can help you in managing your finances more efficiently. Even multi-millionaires hire financial assistants.
Financial planning
To formulate a budget and make the right financial planning choices, you can use a budgeting calculator or a financial planning calculator. These calculators help you to determine what you can afford and get the different numerical calculations for your financial planning and budgeting. So it is better to use these financial tools while making any kind of financial decisions.
Types of Financial Councilors
Whether you go to a Certified Financial Planner (CFP), Independent Financial Advisor, Credit Counselor or an Estate Planner for advice they can help you make the right decisions concerning your financial future. They will not make the decision for you, however. Generally, depending on your circumstances, they will analyze your finances and then they may talk to you about investing, financial planning, money management and savings or help you with better debt management.
Certified Financial Planner
A certified financial planner may help you with planning for retirement, setting up IRAs, various forms of life insurance, annuities, etc. A CFP must be licensed and trained to help you deal with your money properly. They will analyze your current financial situation and help you identify any problem areas and opportunities. They will also help you develop a workable financial plan to prepare for the worst and plan for the best.
Estate Planner
An estate planner can help you with setting up Wills, Trusts, Powers of Attorney, Health Care Proxies, and other things necessary to provide for your loved ones whether you become incapacitated or pass away.
Accountants & Bookkeepers
If you have a small business you will have some other types of financial statements like a balance sheet, income & loss statement, retained earnings statements, owners’ equity statement, and cash flow statements and thus you may need an accountant or bookkeeper to help you with payroll, tax payments and filing etc.
Credit Councilor
Finally, there is your credit report and you should be aware of what it contains. If it contains incorrect or one-sided information contact the credit bureau and present your side of the story. If you are uncomfortable doing this, you can go to a credit counseling agency, they can help you in repairing your credit by paying off your debts and removing the wrong listings from your credit report.
A credit counselor may also help you to understand your various financial statements like bank statements, credit card statements, court statements, and so on.
Wise use of all types of counselors can provide you with a variety of additional resources for everything from repairing your credit to properly maintaining your finances, investing for the future, insuring against disaster, providing for your children’s Education, and planning your estate.
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