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Financial advice for the masses may not be right for you; Look for individual counseling and advice

May 14, 2009

Giving financial advice has become almost a celebrity business in the television world. There are plenty of financial experts who have achieved not only fame from offering advice about money and investing, they’ve pretty much gained a dedicated following of fans who cling to their every word.

Many of these famous financial experts (like Suze Orman and Dave Ramsey) offer good, solid advice. However, not all of that advice is a good idea for every person who watches them on television.

Liz Pulliam Weston recently wrote an article about why she doesn’t always agree with the advice Orman gives. The main point of the article was that Orman’s advice doesn’t make sense for everyone.

This is true of nearly anyone who is talking about personal finance to a very, very broad audience. It’s important to do your own research and get one-on-one help and advice from someone who understands your individual situation.

If you are facing unmanageable debt, a credit counseling session is a great place to start. A certified counselor will sit down with you and take a detailed look at all of your income and expenses. From there the counselor will help you create a budget and an action plan to reduce your debt.

If you have questions about investing, you should find a reputable financial planner to advise you. Don’t make the mistake of thinking that financial planners are only for the wealthy. They can be of great value to anyone with a 401k, an IRA or anyone who wants to start investing for the future, but isn’t sure how to start.

While celebrity financial advisors do offer up useful advice, it’s important to make sure that you glean the information that will be helpful to you and to learn to leave behind what won’t work for your situation.

Written by admin · Filed Under Misc., Credit Counseling 

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