How to Find a Budget Counselor

A budget counselor can help you get your finances under control.

If you find yourself overwhelmed with with debt or in some other financial crisis, budget counseling may be necessary. A budget counselor will help you set up and maintain a budget. Usually you will only need to see a budget counselor over the first few months of your budget, though he may want to follow up with you each year. Many financial planners also work as budget counselors to help their clients find more ways to build wealth.

Instructions

1. Determine if you want budget counseling to help you get out of debt, deal with creditors, or to help you prepare to invest money. This will help you find a budget counselor that will help you fulfill your primary objective.

2. Ask friends, coworkers, and any counselor you know if they can refer you to a budget counselor. Your accountant may be willing to help you set up a budget or may know a budget counselor to refer you to, as well.

3. Contact your job's employee assistance program to see if the program provides budget counseling services as part of the package.

4. Look online at money expert sites, such as daveramsey.com, to see if there is a certified budget counselor in your area.

5. Check with your financial advisor to see if he offers budget counseling services. Many financial advisors and planners will sit down and work out a budget with you for free or for a very low fee. Ask friends for referrals to financial planners if you are having a difficult time finding a counselor.

6. Interview two or three of the counselors. Find out if their philosophies and practices match yours. The best financial advisors will always recommend that you be free of consumer debt before beginning to invest, and will set up a plan to help you do that. Choose the person you feel most confident in. Ask for recommendations from their other clients as well.

Tips & Warnings

• Steer clear of debt and credit counseling services. Although they will sit down and work out a budget with you, many of these companies end up scamming people or going out of business. They will negotiate lowering your debt, but it does affect your credit score. If you do choose to go with this type of company check with your Better Business Bureau for any complaints before you do business with one.

References

• Federal Trade Commission: Finding a Credit Counselor
• Motley Fool: Should You Get Credit Counseling?