When to Contact a Financial Counsellor

Financial counsellors are professionals who have undergone extensive training in money management and personal finances. This training, along with years of experience, allows them to effectively help people who are having trouble managing their finances.
While financial counsellors are available in every state and territory throughout Australia, many people fail to use these services.

Oftentimes it is hard for people to ask for help, but there are times when your financial situation requires the help of an expert. While you certainly can seek the services of a financial counsellor at any time during the year, there are some times when seeking out these services is a must. Below is a look at common circumstances in which contacting a financial counsellor will be advantages.

Having Financial Difficulties
If you are having trouble making ends meet and you feel like you never have enough money to pay all your bills, it is time to talk to a financial counsellor. The first thing the counsellor can do is to make sure that you are receiving all the government benefits you are entitled to. This can help offset some of your bill and give you more money to spend each month.

The counsellor can also help you set up a household budget and teach you tricks on how to save money during the month. You will learn how to set both short and long-term goals and to start planning for your future. Over time, the counsellor will help you get control over your finances and get back on track.

Debt Collectors Are Calling
If you are in debt and/or the debt collectors are calling you, or you have received a utility shut-off notice, it is definitely time to contact a financial counsellor. The counsellor will meet with you to get a clear picture of your current financial statue. He/she will look closely at your income, expenses and overall debt. You will learn how to create a household budget to determine how much money you have available to pay off your outstanding debt.

At this point, the counsellor will start to contact your creditors to set up reasonable payment agreement based on what you can afford. Oftentimes, creditors are more willing to work with a financial counsellor than they are with you individually. This means that the counsellor is likely going to be able to entice each creditor to agree to your terms, meaning they will stop calling the house.

Offer Financial Advice
If you are currently making a large financial decision, such as whether to purchase a car or a home, or to make a financial investment, it is a good idea to first seek the advice of a financial counsellor. The counsellor will look at your specific situation and offer advice as to whether it is a good opportunity for you or not. The counsellor may also be able to advise you to make some changes to your plan the will better benefit you and your future.

Before Taking Out a Loan
If you are considering taking out a loan of any kind, including a payday loan, you may want to talk to a financial counsellor first. While taking out a loan may seem like the solution to your current financial troubles, it could actually make matter worse. A counsellor can look over your information to determine if the loan is right for your situation. The counsellor may also be able to offer you alternatives that would not require you to take out a loan and go further into debt.

If you are currently dealing with any of the issues above, or you just want some sound financial advice, contact a financial counsellor in your local area. Be sure to take a listing of all your income, expenses and debt to your meeting. This will help the counsellor provide you with the best financial counselling services possible.

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