A good financial advisor will help you identify your goals, set an overall financial plan and figure out how to manage your money in the best way possible. It takes time and effort to determine budgets, investments and how you can secure a good financial health. Keeping healthy means paying attention to your financial profile and avoiding disasters. Top advisors are able to give you sound advice and offer you insights and personalized analysis of your debts.
If you want to see the impact of your debts on your finances, monitor your accounts and keep potential fraud at bay, hire an advisor. They will be proactive in helping you better manage your risks. If you are paying top dollar for someone to manage your accounts, you’ll want to make sure that the person is made available at any time of the day and is focused on getting you the reports that you need.
Generally a financial advisor is paid through fees, commissions or a blend of both. According to Wikipedia, fees can be up to $2000 for a single plan. Expensive, yes. Most Canadians don’t even consider having an advisor unless they can make it worth their while. But what if advisors fees start at only $14.95/month?
For $14.95, you can get financial advice worth millions!
Sounds like an infomercial ad right?. As you know, in the financial world, a big part of how things work is through borrowing and lending money. For this to happen, the lender and the borrower need to trust each other enough for the transaction to occur. This trust or judgement call is made easier through a comprehensive document called a credit report. A credit report contains all the little details about your spending habits and debt levels – information that is used to help you buy a car, a house and even pay for tuition. For $14.95/month, you can enroll in a credit monitoring service that is, in a way, like your financial advisor.
The paid monthly credit report service works by monitoring your financial data and keeping an eye on fraudulent activates. It will provide an assessment of your financial health and how you rank compared to the rest of Canadians. The service will also identify your debts and issues that affect your financial health. In fact, because it is so detailed, you will be provided with explanations of what is helping and hurting your score. Credit monitoring services will outline your financial history; explain how lenders perceive your risk level and the steps to take to improve. The best part is that your $14.95 advisor is available conveniently online, 24/7, and will alert you about key changes to your credit reports.
In the same way an advisor checks your profile to make sure things are running smoothly, Canadians who sign up for a credit monitoring service will be provided with a comprehensive report full of insights. Granted, a real financial advisor does other things too, like fetch you a coffee. However, a good credit monitoring service can do most of the leg work into helping you manage, monitor and improve your credit.
I’m Pat Drummond, author of this website and I have been helping regular individuals just like you get on track with debt. One of the first things I recommend for any Canadian is to check your credit report so that you can have a baseline and an understanding of your Canadian credit score. One of the most convection way to get one is to get instant access online. From there, you’ll be able to put together a plan to reduce your debt and improve your overall financial health.