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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our investing reporters and editors focus on the points consumers care about most — how to get started, the best brokers, types of investment accounts, how to choose investments and more — so you can feel confident when investing your money. Investing disclosure: The investment information provided in this table is for informational and general educational purposes only and should not be construed as investment or financial advice. Bankrate does not offer advisory or brokerage services, nor does it provide individualized recommendations or personalized investment advice. Investment decisions should be based on an evaluation of your own personal financial situation, needs, risk tolerance and investment objectives. Investing involves risk including the potential loss of principal. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Financial advice can be a bit of a Catch-22 — you often need it when money is tight, but financial advisors usually charge fees for their services. And because money is tight, you may not be able to afford that cost. Fortunately, there are many ways you can find financial advice that is low cost or even free. These are not substitutes for personalized financial advice, but they could be worth considering until you can afford advice tailored to your situation. Top ways to get free financial advice
If you can’t afford a yet, there are many places you can look first for free or cheap financial advice. Here are some places to look. 1 Start with your bank or credit union
Banks and credit unions sometimes provide articles to help their customers learn basic financial principles. This is a good option because you are probably already familiar with the organization and its website, app, etc. Start there if you aren’t sure where to look for free financial advice. 2 Online brokers
Do you have an or a with an online broker? Much like banks and credit unions, these firms often have articles that break down the basics of personal finance. Because they are brokers, their educational material likely covers investing as well. They may even go a step further and offer financial planning tools and calculators to help you build a financial plan. 3 Budgeting and financial planning apps
Using a budgeting or can be a helpful way to take control of your money. But many of these apps offer supplemental material to help you learn about personal finance. Those materials could come in the form of articles, videos, or even workshops. 4 Consumer Financial Protection Bureau CFPB
The CFPB is a U.S. government agency “dedicated to making sure you are treated fairly by banks, lenders and other financial institutions,” according to its website. In support of its mission, it provides a host of articles, guides, and news reports on the topics of credit cards, debt collection, mortgages, and more. 5 The Association for Financial Counseling & Planning Education AFCPE
The AFCPE is an organization providing financial coaching, counseling, and education. The organization has partnered with the Yellow Ribbon Network to provide free financial counseling in light of the COVID-19 pandemic. Yellow Ribbon is an organization that provides various forms of assistance to military service members and veterans. However, you don’t have to be associated with the military to use this . 6 Financial Planning Association FPA
The FPA offers for underserved and at-risk communities. The association has 80 active chapters in states all over the U.S. It also has a list of CFPs providing pro bono financial planning for underserved communities most impacted by the COVID-19 pandemic. 7 Savvy Ladies
Savvy Ladies is a network of 3,000 volunteers providing free financial education for women. Its goal is to promote the advancement of self-reliant, financially educated women. The network provides free financial help in addition to hosting events and webinars. When should you pay for financial advice
Free financial advice can be a critically important resource, especially for underserved communities and those experiencing financial hardship. However, many of these organizations rely on volunteers and may not have the resources to help in all circumstances. If you need help with more advanced financial planning, it might be worth paying someone instead. If you have complex or tax questions, these could go beyond the scope of a typical volunteer service. The same could be said if you are starting a business and need help organizing your business finances. In general, volunteer or pro bono services are best for helping with basic, day-to-day financial planning. Bottom line
Not everyone can afford to spend hundreds of dollars for the personalized help of a certified financial planner (CFP). This is often the case for underserved communities and even the middle class during economic crises. Fortunately, your bank, broker, or a volunteer group or government organization may provide free resources to help you get back on track. However, it can also be worthwhile to pay a financial professional in some cases. Complex tax and estate planning questions might justify a fee – and can pay off in the long run in these cases. Starting with free resources is often a good idea, but be aware that there can be limits to using them. You can also take advantage of Bankrate’s free course on where we break down the different types of investment options available and how to build a smart portfolio. Or check out this course on instead. SHARE: Bob Haegele is a contributing writer for Bankrate. Bob writes about topics related to investing and retirement. Bankrate senior reporter James F. Royal, Ph.D., covers investing and wealth management. His work has been cited by CNBC, the Washington Post, The New York Times and more. Related Articles