How to Get Free Financial Advice

Navigating the financial world can be incredibly overwhelming. Everyone has to learn somewhere, and getting financial advice is a great way to learn. But hiring a financial advisor or working with someone to plan your finances and budgeting for the future can quickly get expensive.

Most of the time, someone just starting to get their finances in order can’t afford to spend big bucks for a financial advisor. 

So what do they do? Luckily, there are options for getting financial advice for free. While it may not be exactly the same as hiring a certified financial advisor, these resources can be incredibly helpful as you plan your financial future. 

Top Opportunities for Free Financial Advice

There are plenty of places that can offer you financial advice on a limited scale.

Many of these places will have some sort of niche, or can at least provide you with some basic skills and understanding to help you manage and maintain your finances in a positive way.

Find ways to educate yourself, plug into resources, and take advantage of the free services available to you. 

1. Banks and Credit Unions

If you use a local bank or credit union, this is one of the best places to get plugged in and get some free financial advice. These locations will be more than happy to help you get established and learn how banking works.

The really great customer service reps will gladly take you under your wing to explain the banking system so that you know what to expect and how you can take care of your accounts. 

If you don’t have a bank account established, start doing a little bit of research to find a nearby bank that seems like the right fit. While there are many online platforms for digital banks, it would be a good idea to find a solution with a physical branch to get started.

If you do choose an online-based source, be sure that they have education and resource materials that you can use to learn more. 

Working with a bank or credit union puts you with people who want to help you learn the basics. You also gain experience using their systems and budgeting to maintain a positive balance in the bank. 

2. Budgeting Apps

There are tons of budgeting apps out there, designed to help you better track your spending, manage your finances, and learn how to improve your financial situation as a whole. Apps like Wally, Mint, Goodbudget, and others create an intuitive design that teaches you about budgeting and healthy financial habits. 

Most of these apps have educational information through videos, articles, training sessions, and more that can give you insightful tips for managing money, paying the bills, and even investment considerations. 

Learn more about putting away a nest egg, saving for retirement, and taking control of your spending habits to put yourself in a far better financial position with your future in mind. Most of these apps are free and allow you access to their materials for free too. 

3. Online Broker Platforms

If you’re considering investing or saving for your retirement, an online broker could have valuable information to help you figure out the investment world. Much like budgeting and banking apps, there are tons of free sites and broker tools that give you a wealth of knowledge at your fingertips. 

Just about any online broker platform is going to be loaded with education, tools, resources, and possibly even tutorials. Tap into the knowledge available and start planning for your future on a deeper level. 

This is where it can get tricky finding the free resources. Pay close attention to free platforms, as that is where you will need to focus on starting to avoid paying fees. You also won’t want to start a financial advisor account yet, as you will then be paying the advisor and that’s not free. 

Many of these sites have blogs and resources that are available to the public. They will also have some things that require an account so look around and see what you can find. 

4. Credit Counseling Providers

Credit counseling providers are in place to help you resolve bad credit issues and get into a better financial position overall. While these advisors are geared towards improving debt situations, they still provide a lot of great knowledge that can be a valuable resource for your financial advisement. 

If you’re looking for help with investments, this probably isn’t the source for you. However, that doesn’t negate their value and how they can teach you to pay off or prioritize debt and get yourself into a better financial position so you can later save and invest for the future. 

5. Free Financial Advisors

While there are plenty of financial advisors out there who can be expensive to work with, there are also some free financial advisors that provide pro bono resources to certain people. There are certain associations and committees that were created for just this purpose. Do some research and see if you can find pro bono financial advisors that cover you or your area. 

One popular association is the Financial Planning Association. They focus on communities that are under-resourced and volunteer their services in those areas. This example is a US example, but there are others like them across the globe. 

6. Online Resources

The online culture has certain advantages, and one of those is the ability to locate resources for every need, including financial advice. There are tons of online resources at your fingertips — you just have to locate them and find something suitable for your needs. 

There are free courses and webinars designed to promote financial education and financial wellness. A quick search will show you some valuable resources. Here are a few great examples. 

• Udemy’s Personal Finance 101
• Clever Girl Finance
• Open Learn
• Reed Courses
• Skillshare
• Coursera
• MoneySmart
• GreenPath

These are just a few options, but there are plenty more out there to choose from. These courses have in-depth education and training to help you with your finances in a variety of ways. 

Online, you can also find free workbooks and free worksheets that help you through the process of budgeting, paying bills, planning future spending, managing debt, and more. Look for toolkits and workbooks that will teach you and provide helpful tips. 

7. Podcasts

How often do you listen to podcasts? There are tons of podcasts out there created by experts in the financial industry. While their subscriptions and services might cost money, the vast majority of podcasts are completely free to listen to.

The creators often have their own products or recommendations, but the podcasts are loaded with valuable information you can get for free. 

The cool thing about podcasts is that you can find the ones that really appeal to you. The Dave Ramsey Show is a popular financial podcast. However, if you’re not impressed with him, you have hundreds of other choices. 

Look for something that suits you and will be beneficial to you. For example, you don’t want to be bored and drifting off while listening. This defeats the purpose. Find a podcast that talks about things that interests you and will engage your brain while you’re listening. It’s all about finding the right fit! 

Paying for Financial Advice

There is nothing wrong with paying for financial advice, but you need to be in a position to do so.

But in all honesty, you don’t have to pay to learn more about finances and financial planning. There are plenty of free tools and resources at your fingertips that will share with you education, tips, and basic financial assistance without charging you a penny to do so. 

When is the timing right to start paying for financial advice? There is certainly an advantage to using a financial advisor when you are in a position to do so. And there are many professional offerings that come in handy when you’re ready for that.

If you choose to invest and want an advisor that can guide you in investing, hiring an investment adviser, or even a robo adviser can be a great help here. In addition, there are professional services such as estate planning, retirement planning, tax planning, and other similar financial needs that require a professional to do correctly. 

Day to day finances are different and you can typically suffice with the free tools available. It is up to you to determine when or if you reach a position in which hiring a financial advisor is worth the cost and will benefit your situation. 

Final Thoughts

Getting financial advice could look different for everyone. For some people, it involves planning for the future. For others, it involves trying to unbury themselves from high levels of debt or simply learning how to budget. There are free ways to get financial advice for every situation and tons of resources out there for you to tap into. 

Take the time to learn what is available and what will best serve your financial goals and go from there.

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