Locate Personal Finance Counseling Services
Personal finance counseling services are available through the NFEC, which trains and qualifies top-level counselors – Certified Personal Finance Consultants – to help people reach their financial goals. Find a personal finance counselor in your area who has a passion for helping others achieve positive financial outcomes, and who meets the most stringent industry standards for personal finance counseling. These counselors take a fully-vested interest in helping you succeed and provide you with support and guidance to improve your finances.
Many personal finance counseling experience just means talking with someone. However, NFEC counselors offer a huge range of services all designed to help you improve your personal finance standing. To judge what the average counselor offers, we reviewed 137 financial counseling sites that came up in the top 50 Google results using keywords ‘financial counseling’ and ‘financial coaching.’ Among those 137, 26 listed clear price information. The top service was talk time – all 26 offered phone contact with the counselor. Some provided educational materials and resources. A small proportion offered personal finance plans based on the client’s personal situation, and just two had re-planning and reporting services. We encourage those seeking to become a personal finance coach start with offering services that truly benefit the client.
Betty provides an example of how personal finance counseling works. Betty chose an NFEC counselor that earned her financial coach certification and Certified Personal Finance Consultant designation; the first phase was where the counselor gained deep understanding of Betty’s full financial profile – reviewing her income, liabilities, assets, credit, debt, accounts, and risk management. Then the counselor generated Betty’s individualized Personal Finance Plan Report with step-by-step priorities and actions for Betty to take toward financial wellness.
Now that Betty’s immediate needs had been addressed and she was on the way toward building a solid foundation, the personal finance counseling process moved into ongoing financial coaching. The counselor could step to one side and let Betty follow her action plan, while the counselor would offer resources when indicated and give Betty personalized reminders about key dates.