However healthy your financial situation is at present, getting good financial advice on your personal finances can be a great help.
It’s not always affordable to hire a personal financial adviser, so we’ve created this list of places you can seek free financial advice instead.
Government Agencies
Two great sources of free information are the Department of Human Services’ Financial Information Service and ASIC’s MoneySmart. On the ATO website you will also find information on superannuation, self managed super funds and tax-related matters.
Financial Counsellors
Financial Counselling Australia provides free financial counselling. If you find yourself with money problems, you can receive information, support and advocacy from an independent financial counsellor. You can go to their website or call 1800 007 007.
Mortgage Brokers
For advice about getting a home loan, saving for a deposit and property investment, you can talk to mortgage brokers free of charge. They can even assist with how to make yourself look good on paper for a lender.
Financial Planners
Your first meeting with most financial planners won’t cost you anything. You may receive some general tips and you should get an understanding of how further paid advice may benefit you.
Your Super Fund
Super funds usually offer their members free financial advice through various means. Online tools such as financial calculators will help you to budget and work out the right level of insurance cover. They may also offer educational seminars on superannuation and retirement.
Free Seminars
The Department of Human Services offers free financial seminars in every state and territory, to help individuals learn more about a range of topics including money management, borrowing to invest, retrenchment, property and sharing Whether you’re starting out, planning your retirement or already retired, these seminars cater for all life stages. To find upcoming seminars, visit their website.
Reputable Websites
The key word here is reputable. There are countless websites that offer financial advice, however not all of them are accurate. You should rely more heavily on credible sources.
Along with the Government agencies listed above, comparison websites such as mozo.com.au are packed with financial guides and calculators. If you want to better understand shares and options, the ASX website offers a number of free online tutorials and often runs seminars and webinars that are free to attend.
Family and Friends
The best source of advice can be those closest to you. Sharing financial knowledge amongst friends and family is a great way to learn of resources, recommendations, lessons and solutions that you may not have previously been aware of. It is savvy to remember that their situation is different to yours, so always do your own research too.
There’s a surprising amount of free financial advice available to individuals. By making use of these free resources, you can take control of your financial future and reach your financial goals, without paying a cent.
