What Does a Financial Counselor Do?

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Whether you are a young person just starting out or a senior citizen with a financial crisis, a financial counselor can help you manage your money. They can advise you on how to get out of debt and make sound financial decisions.

Financial counselors are experts in financial products, credit and debt law, bankruptcy and other areas. They can also offer emotional support.

A financial counselor can also work in a bank or credit union. Many financial counselors specialize in helping people get out of debt or improve their credit scores. They can also help people navigate the financial aid system at colleges or universities.

Financial counselors also work in nonprofit agencies and community-based organizations. Many health care organizations hire financial counselors. The role has become more important in recent years, with soaring treatment costs.

A financial counselor can help you determine what type of insurance coverage and out-of-pocket expenses you will need. They can also advise you on safe financial products and low-fee financial services. A financial counselor can also assist you with claiming refundable tax credits and getting out of debt.

Financial counselors also help people make sense of complex financial concepts. They use effective communication skills to help clients understand their financial situation and financial options. They are also sensitive to cultural differences. They are trained to work with clients and provide them with emotional support.

When you are looking for a financial counselor, you should find a certified professional. Accredited Financial Counselor (AFC) certification requires years of industry experience. The certification demonstrates a higher level of education and knowledge.

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