Free financial advice is needed by so many people right now.  It is key especially during times like now where we are living through a pandemic.  For many, hiring a financial advisor is not in the budget.  Luckily, there are both non-profit and professional organizations that offer free financial advice.  Whether you are suffering financially or need advice on how to reach your financial goals, the right financial advice can help you come out on the other side of this pandemic financially stronger.

 

Why The Right Financial Advice Is Important

Personal finance should be on everyone’s mind whether you make a million dollars a year or you work at Starbucks.  Everyone should have questions on how to best manage their finances and having access to an advisor can help answer them.

 

Here are five organizations that you can tap right now for free financial advice

 

free financial advice

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1. The Association for Financial Counseling and Planning Education

This nonprofit organization offers financial counseling, education and coaching at no charge.  Head over to their portal on the AFCPE website.  Right now, the AFCPE hears the struggles of so many Americans and is offering free help from their financial counselors and coaches.  They will offer trustworthy advice to help you come up with a plan for how to tackle your finances during this tough time. After you sign up, you will be contacted by a counselor within 48 hours. The sessions are virtual and are designed to help you navigate the following:

  • Manage your current expenses and provide you with advice on how to prepare for future emergencies.
  • They will help you figure out how to handle your bills (like which bills to pay first and which to hold off on).
  • How to build a plan for paying off your debt as well as how to avoid accumulating debt in the future.
  • Help with navigating unemployment benefits and other financial assistance programs.
  • How to make the most of your stimulus money.

2. Financial Planning Association 

The Financial Planning Association has supported underserved communities since the turn of the century.  They provide access to financial planning services on a pro bono basis.  During the current crisis of Covid-19, they are providing access to free consultations with certified financial planners.  Check here for a list.

3. National Foundation for Credit Counseling

The National Foundation for Credit Counseling is the largest nonprofit financial counseling organization in the U.S. Right now, they are offering free consultations to anyone being financially affected by the current pandemic.  Before reaching out to them, make sure to gather all information regarding your income and debts so the process can move as quickly as possible.  You can set up an appointment by registering at nfcc.org or calling 844-865-1971.

4. XYPN

If you are part of the Gen X and Gen Y group in this country, then The XY Planning Network is for you.  This organization of financial advisors specializes in working with this section of the population.  Right now, they have close to 100 advisors offering free advice to those being negatively affected by Covid-19. Go to the XYPN portal to find an advisor.

5. The National Association of Personal Financial Advisors 

NAPFA members have always been committed to delivering financial assistance to underserved people.  Right now with Covid-19, members are making themselves available to those that need it. They will help out with basic information surrounding tax issues, unemployment, lender moratoriums and any other helpful information.

What a Free Financial Adviser Will Not Do For You

The assistance that these organizations are offering is meant to help address financial issues like the ones so many people are experiencing right now.  A loss of a job, how to handle your bills etc.  If you have more complex questions like what to do with your investments, they will not be able to help with that. Their guidance is more to help you get your finances back on track.