Personal finance can be a daunting and overwhelming topic, especially if you’re just starting out. But it doesn’t have to be! There are lots of resources available to help you get started on the right foot. Here are four tips to get your finances in order:
1. Finding a Financial Advisor
There’s no shame in asking for help when it comes to managing your finances. One of the best ways to find a qualified and reputable financial advisor is to ask your friends and family for recommendations. You can also use a financial advisor finder tool, or check with professional organizations in your area. Once you’ve got a list of potential candidates, narrow it down and interview each one to find the best fit for you.
2. Getting Information Online
These days, there’s no shortage of information available at our fingertips. Many websites offer personal finance advice, so you can search for specific topics or questions you have. You can also join newsletters or RSS feeds to get updates from your favorite sources, or follow financial bloggers and experts on social media.
3. Read Books on Personal Finances
If you’re more of a traditionalist, don’t worry – there are plenty of books on personal finance as well! Check the library or bookstore for titles that interest you, or look for workshops and seminars in your area. If you’re not sure where to start, seek out books that are targeted at a specific audience you’re in, such as women or millennials. Seek out a mix of timeless classics and modern works that apply specifically to current markets And before you buy any book, be sure to read reviews first to see if it’s the right fit for you.
4. Listen to Personal Finance Podcasts
Podcasts are all the rage these days, and there are many great ones focused on personal finance. Listen to podcasts on topics that interest you the most, or find a group where you can discuss ideas with others who are interested in the same things as you are. There are plenty of free podcasts out there, so there’s no excuse not to give them a try!
5. Your Employer’s EAP Program.
Many employers offer Employee Assistance Programs which offer many ways to help their employees improve their lives, including financial literacy and information, often for free. Speak to your employer to find out more about your company’s Employee Assistance Program. If they offer one, they want you to use it. It doesn’t make sense NOT to make use of it, especially if it’s free.
6. Taking Action on Your Own Behalf
There’s no better source of information than your own experience. Once you have some information, it’s time to take action on your own behalf. One of the best things you can do is make a budget and stick to it. Remember, there is almost always some form of risk where personal finance is concerned, so take your time to learn and then responsibly test the waters where you can.
There’s no one-size-fits-all approach when it comes to personal finance. But by using some (or all!) of these tips, you’ll be well on your way to getting your finances in order and taking control of your money. So what are you waiting for? Get started today!
