You can find free financial advice from familiar sources like your bank, brokerage, nonprofit organizations and blogs. Read on to learn where you can take advantage of free financial resources.
Some of the best, free financial advice can come from your own bank, credit union, brokerage or other financial institution where you’re already a customer. You may already have access to free financial planning resources or a no-cost consultation with a professional advisor.
Your bank or credit union should be one of the first places you go to for free financial advice because it’s convenient and you’re already familiar with the institution. Keep in mind that your bank or credit union may encourage you to receive their specific products, so be sure to consider all your options and how they fit into your personal financial circumstances.
Example: Bank of America has a program called Better Money Habits, which is a free financial education platform to help people make money decisions in all phases of life.
Examples: Fidelity manages over 22,000 employer benefit programs; its Learning Center features live and on-demand webinars, coaching sessions and online classes. And Ellevest, a robo-advisor geared toward women, holds free financial literacy workshops for its members.
Beyond your current financial institutions, there are free financial advisors and resources available through nonprofits, financial counseling associations and government agencies.
The National Foundation for Credit Counseling (NFCC) is a nonprofit that provides free financial counseling to people in debt, first-time homebuyers, student loan borrowers, small business owners and more. NFCC offers help with eliminating late fees, stopping collection calls and lowering your interest rate and monthly payments.
How to get started: Sign up for a 30-minute phone call with a NFCC Certified Financial Counselor. For online-only help, you can also browse NFCC’s Learning Center, which features planning tools, calculators, videos and more.
Savvy Ladies is a nonprofit organization that offers free personalized financial advice to women through a help line. The organization also offers seminars, webinars, keynote speaker events and a secure forum for women to learn and network. Savvy Ladies acts independently of financial institutions and can provide free resources and programming due to its generous donors and sponsors.
How to get started: Complete the Savvy Ladies’ helpline submission form and they’ll pair you with the right advisor for you.
The Association for Financial Counseling and Planning Education (AFCPE) offers free coaching sessions to families struggling from the financial impact of the COVID-19 crisis. AFCPE is a nationally recognized financial counseling organization that runs a comprehensive financial coaching training program to help improve the financial health of households worldwide.
How to get started: Register for a free counseling session on AFCPE’s website.
The U.S. Department of Housing and Urban Development (HUD) provides free or very low-cost counseling services for people experiencing foreclosure. The HUD-approved housing counselors can help you negotiate with your lender, organize your finances and guide you through the law.
How to get started: Find a HUD-approved counselor in every U.S. state using HUD’s website.
The National Association of Personal Financial Advisors (NAPFA) offers free financial assistance to those affected by the pandemic. NAPFA is the country’s leading professional organization with fee-only financial advisors, which means that financial advisors aren’t paid commission specific to the products they sell.
How to get started: Browse NAPFA’s list of financial advisors offering free advice — advisors also include their specialty areas, like taxes or retirement planning.
The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.