Tips For Financial Planning Advice Without Breaking Your Budget

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If you have long wondered about how you should be managing your finances, you may be considering working with a financial planner. While some people feel discouraged when they discover that financial planners often require contractual payments for ongoing services, the good news is that some financial planners will actually work with you on an hourly basis. Here are a few situations where it could be advantageous to work with an hourly financial planner instead.

It's Just The Beginning

If you are just getting started with getting a handle on your finances, it may be better for you to work with a financial planner who will bill you on an hourly basis. As a beginner, you aren't likely to have an investment account large enough to attract, or afford, a contractual financial planner. You can benefit from someone who works for you and bills you only when necessary instead of paying large sums for a retainer on someone who offers far more than you need.

You Want To Be More Involved

If you want to take an active and primary role in your financial management while still having someone on call when you need more specialized advice, an hourly-based financial planner may be a better option for you than a contract provider. You'll be able to take the main role in managing your finances and investments, but you won't have to face it alone.

You Are Frugality-Focused

For those who are in tight control of their finances already and typically shop for the best possible deals, working with a financial planner on an hourly basis is likely to be the best investment decision. It allows you tighter control of your finances without sacrificing your professional resources and perspectives.

You Have Solid Financial Understanding

If you already have a lot of experience with investments and financial management, you may not need a lot of input from a financial planner. You may only need a resource for issues that require greater expertise or analysis. In those cases, you can rely on your own sound education and turn to an hourly financial planner only when you are in need of further advice or direction for more complex issues.

The more you understand about working with an hourly financial planner, the easier it is to decide if this is the right service for you. Talk with a few financial planners in your area today to get more information and to find the right planner to meet your specific financial needs.