learn how to manage your money

Get advice from someone who knows what they are doing

My brother is a financial planner and mortgage broker so when I was writing this article I spoke with him about a couple of reference points and what I’d planned to discuss. While I knew I’d have the disclosure at the top I still wanted the information to be as accurate and informative as it could be. So thanks Dean boy, I appreciate the help.

I went to him because he trains hard, he knows what it is like to raise a young family while continuing to plan for their future and manage their finances but still allowed them to ‘live’ without paying for it later. I trust him to advise me as someone who knows stuff and lives by example. Mostly {I couldn’t resist, big sisters have long memories – HA}.

You should do the same. If you know someone who manages their money well then ask them for advice. If you don’t know anyone or it turns out the people you know are actually just keeping up with the Jones’ then there are professional out there ready, willing and able to give you advice. For a fee. I am told that the first consultation is often free. You won’t get specific advice, but you will be able to discuss your concerns and questions with the financial planner and get an idea for their fees.

It’s important to remember that most financial planners WILL be making a commission from someone, somewhere. Banks, superannuation providers and insurance companies. To a good planner this will take second place to tailoring a plan that will work for you and your goals. If you get that sales pitch vibe, get out of there. It’s important that you select someone with a good reputation, which can provide quality relatively unbiased advice and someone who you are comfortable with.

Sometimes the best advice you can receive is from people you don’t know personally. Wealth creation books are everywhere and there are strategies to suit every person. Why no dip your toe in the water by reading a book or two on the subject and start seeking advice from some of the world’s wealthiest men and women? Consultations with these people may be well out of your price range, but books, second-hand, new or iBooks are relatively cheap, take charge and give yourself the best advice out there.

When looking for great financial advice, ideas to create more money and stop repeating the same mistakes I like to draw from sources all over the place. But only ever from people who know what it is to have money in the bank, to prepare for your financial future and who are committed to the same end goal as you. Choose wisely, advice is only as good as the person giving it.