There will come a time in all our lives when we need a bit of advice on how to manage our finances. If you’ve found yourself struggling to make your money go further, or you need a plan to help you save, seeking help from professionals like banks and advisors can be advantageous.
If you’re having difficulty paying for an unexpected bill, or you need to find a way of paying for an emergency, a short term loan can help you when you need it most. Below, we’ll look at how to find the best banking advice so you can meet your financial goals.
Ask your bank
It may seem like one of the simplest ways to go about seeking financial advice, but the best place to start is with the bank you already use. If you find yourself struggling to pay bills, for essentials, or you’re looking for ways to make your money go further, your bank can help.
They can offer support if you need help with budgeting, give you advice on how to save or if you’re looking for a mortgage. The likelihood is that if you’re a valued customer that needs help with your finances, they’ll be able to provide you with the information you need, and you won’t be charged a fee for the service.
There is always a chance that your current bank won’t offer what you’re looking for in terms of services, so you may find yourself having to look elsewhere if this is the case. We’ll take a closer look at ways you can find the most suitable financial advice for you.
Another way of ensuring you’re getting the advice you need is to compare providers, banks, and advisors online. There are websites for everything these days and checking reviews and ratings around other banks and services is a good way of making sure your problems can be solved as best possible. You can use websites to check what banks have to offer, and the services they provide, so you can compare each of them accordingly. You can also check reviews from current customers before making your decision.
You should always check that banks or advisors are governed by the FCA — usually, you won’t need to check that status with a bank, but if you decide to use a financial adviser or an independent for advice, you can use an online register, for peace of mind that you’re dealing with professionals.
Services on offer
When you’re deciding on the correct bank or adviser, you should always check the services that they provide. You may find that some banks specialise in an area, like mortgages and personal finances, whereas you might be better off talking to a charity that specialises in financial difficulties that could help you budget and get in touch with companies or lenders that you are in debt to. Checking the services available to you before you decide, means that you can receive the support that is right for you.
It is important that when you’re choosing to discuss your finances with someone, you trust them and feel at ease around them. The way that an advisor interacts with you and makes you feel can have a huge impact on the overall advice you receive too. For example, if you’re dealing with someone that is not sympathetic, you may not feel like divulging information to them about your finances.
Finding someone that makes you feel at ease, comfortable and heard is the most important thing, and will help with the process of getting you out of financial hardship. One of the best ways to check customer service and rapport is to ask someone that has dealt with this certain bank or advisor before or have a consultation with them to see how you feel.
If you’re not having any luck when it comes to finding a provider that is going to be most helpful for your situation, talking to a charity about your finances may point you in the right direction. You may not realise it, but charities offer a range of banking, budgeting, and financial advice to anyone that may be struggling.
Choose a charity that offers these finance services, like StepChange or Citizens Advice, discuss your issues with them, and they will be able to put a plan in place for you or point you in the direction of the best bank to help you. If you’re not sure where to begin, getting in touch with one of these charities can be a massive help in navigating your way to the best financial advice.