Who hasn’t tried to dish out financial advice to you as if they’re Suze Orman? How about friends or family members that tell you when it comes to money, they’ve “been there and done that” and have all the answers?
Then, you have that nosey co worker or overbearing boss that is all too eager to give you as much information about saving money as you can handle, and perhaps they’ll even throw in a little bit of so called knowledge about retiring as well.
What’s a person to do? Who should we be listening to?
For starters, you should be all too willing to weed out the people who are giving you advice about saving money who are worse off than you. If your close friend is barely making it from one paycheck to the next, but he’s going to tell you how to spend money or give you an impromptu seminar on budgeting while you’re in line at the grocery store, you should think more than just twice about taking that bait.
The real informed individuals are those who have been successful spending, saving and budgeting. The best source, however, has to be someone who manages money and finances for a chosen professional, such as a financial planner or retirement specialist. Even searching out someone at your bank would easily trump listening to someone who you’re not quite sure has a clue about money or financial responsibility.
But be careful just which financial advisor you choose, since they’re not all as prominent or experienced as you might assume. You want to be certain to not only research them once you’ve found a particular person but also make sure their training and expertise was formal.
Just because someone says they’re certified, doesn’t make that a true statement. When it comes to your money, a little research goes a long way.
One missteps we often make when it come sot searching out a professional is the propensity to believe in referrals, but in actuality you want to make sure that person fits your financial needs, wants and goals and also comes highly recommended by someone other than who you know.
As much as the advice you receive from others is driven by trying to be helpful, you still have to remember one key piece: it’s still your money.
And what you do with it should be your decision and not overly influenced by those who might not be quite as much of a resource as initial thought.