Ways To Get Free Professional Financial Advice

Saturday, March 1, 2008

YOUR MONEY WaysTo Get Free Professional Financial Advice (NAPSA)—Oneofthe ironies of the American economy is that the people who could most benefit from professional financial advice are quite often those who can least afford it. Fortunately, there are many qualified professionals who offer pro bono financial advice to those who simply wish to make the most of whatlittle they have. For example, through thefirst six months of 2007, local chapters of financial planners reported pro- viding 24,154 hours of pro bono activities by their members. This includes financial literacy/education programs for high school students and financial literacy classes for low-income parents and families to reduce their debt, con- trol their spending, improve their credit and create savings plans that are helping them qualify for Individual Development Account funds. These programs and others, including distribution of financialplanning handbooks with plainEnglish tips on budgeting, banking, investments, retirement, credit and home ownership, and business advice for women entrepreneurs, are promoted by the Foundation for Financial Planning (FFP). A key example is the Moneywise in the Military program, which distributes information to service personnel and family members, including basic information about financial planning to help individuals develop budgeting and spending plans, and information on the uni- formed services 401(k) program. Low-income families have a num- ber of resources available to help them get professional financial advice, free of charge. In addition, the Foundation offers grants to nonprofit organizations with programsthat utilize financial-planning practitioners. Organizations should be: * Utilizing financial-planning professionals through pro bono activities, or local affiliates of financial-planning associations to deliver programsto specific target audiences or the public as a whole; Reaching out to underserved populations andpeople in need; Demonstrating how objective advice can help improve an individual’s personal finances; Providing the knowledge and understanding of the financialplanning process to help individuals make smart financial decisions; and Establishing programs that may enable membersof the public at all levels of wealth and income to improve the quality of their lives. The Foundation for Financial Planning helps people take control of their financial lives by connecting the financial-planning community with people in need. To learn more, or for a grant application to support financial planning in your community, visit the Web site at www.foundation-finplan.org.

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