What does it cost to give your finances a tune-up?
If you’re navigating a major life transition — a career shift, a new partnership, or perhaps an upcoming addition to your family — you may be tempted to seek professional financial guidance. But even entry-level plans from certified financial planners can range from several hundred to several thousand dollars.
If you want to become more financially informed without hiring a professional immediately, here are practical ways to get complimentary financial guidance or to organize your money matters without a hefty price tag.
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1. Use a Personal Finance App or Budget Tool
If you’re just beginning to examine your spending and saving, a budgeting app can give you an overview of your financial picture. Personal finance platforms — many available on desktop and mobile — analyze your transactions and offer recommendations based on the budgeting targets you set.
Numerous apps include free planning features, with premium subscriptions unlocking additional tools. Using a budgeting app or manually tracking your expenditures can help you better understand your money habits and identify questions to bring to a professional later on.
2. Work With a Credit Counselor
If debt feels overwhelming, a good starting point is a credit counselor accredited by the National Foundation for Credit Counseling. The initial session typically includes complimentary financial guidance.
After you connect with a credit counselor, they’ll speak with you by phone or in person to review your debts and overall financial situation. The counselor can help you weigh options to reduce outstanding balances and stop additional debt from accumulating.
Many certified credit counselors provide services for free or charge only modest fees.
3. Attend a Community Class
Look at your local library, senior center or community center event calendar for low-cost or free workshops that cover a range of personal finance subjects.
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4. Seek Financial Counseling
Members of the Association for Financial Counseling & Planning Education (AFCPE) offer guidance on money management and financial fundamentals. An accredited financial counselor can help you work through obstacles and plan for the future; they are not allowed to sell you financial products.
According to listings in the AFCPE directory, counseling fees generally begin around $75 per hour. Local counselors may also host free workshops or classes for the public.
5. Attend a Financial Planning Day Event
Each fall, certified financial planners volunteer to lead workshops or provide one-on-one meetings during Financial Planning Day events nationwide. Financial Planning Day takes place on the first Wednesday of October annually. Participating planners cannot sell services — they are even prohibited from offering business cards. It’s totally no-strings-attached financial advice.
You can locate nearby events, register and learn how to prepare on the Financial Planning Day website, worldfpday.org.
6. Pay a Certified Financial Planner for A La Carte Services
If you want more than free resources but don’t need a comprehensive plan, you can hire a certified financial planner for targeted advice at an hourly or package rate. When researching planners, ask about specialty or a la carte options.
“I always tell younger consumers that it’s never too early to start engaging with an adviser,” says Geof Brown, former CEO of the National Association of Personal Financial Advisors. “There’s someone out there who has services and a fee structure that will meet your needs.”
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Emily Carter is a former writer and producer at Savinly.
