Is it worth getting a financial adviser?

£struggle

I know Martin says credit card is cheaper and it is if you're good with finance, but trying to clear £300 a month of credit bills, with around £600 in standard bills like mortgage/water etc every month left me with about £100 spare (but not really) a month. Over my overdraft every month

Loans seem to be more expensive per month, is it worth getting a financial adviser to help us out, do they charge, are they any good?

somethingcorporate

What do you want help? this forum is full of people giving loan "advice" for nothing.

DCFC79

What do you want an FA for ?

To tell you your overspending, we can tell you that.

Have you tried cutting down on your bills, like food shopping, mobile phone contract.

Head over to the DFW(debt free) board and post an SOA (statement of affairs / list of outgoings)

Aren't FA more to do with savings, pensions etc ?

27col

I don't think that it a Financial Adviser that you are looking for. FA's earn a living by advising people on savings and investments. You don't sound as if you have any money to spare for investment. What you need is money advice, which is an entirely different thing. Others may be able to explain rather better than me.

jason1231972

Depends what you mean by financial adviser. If you mean it in the traditional sense and are referring to an (independent) financial adviser, they don't help with this kind of thing. They advise on savings, investments, mortgages, insurances (life, etc.). Not small-scale personal incomings and outgoings.

If you mean a money advice worker or similar, then help may be available via organisations such as your local council, or the CAB. However, these services are generally (not always) used by people either on very low incomes, or in quite serious financial trouble (problematic debts, not just expensive debts).

If you'd like to expand a bit more on what you're looking for - as well as a bit more about your financial position - you may get stellar advice on this forum.

Tixy

A financial advisor is not what you need.
You could get some advice from one of the debt advice charities.

Or you could get some advice from the many posters on these forums as a first point of call, and then consider if you need further advice and services from one of the debt charities.

The debt free wannabe section of the forum is the best place to ask for advice - and if you complete a statement of affairs showing your income, outgoings before debts and a list of your debts and repayments then people will be able to help.

jason1231972

The most blindingly obvious ways of saving money are as follows (not knowing anything about you, some things may not apply to you):

- cutting down on ciggies, ale, takeaways, etc.

- dropping by one or more brand bracket on your grocery shop

- cutting down things like your mobile phone contract (if able), TV package, internet package, etc.

- taking a smarter approach to your transport options - whether car or public - by walking more, travelling less, etc.

Slightly more sophisticated (but still very do-able) moneysaving tips involve:

- transferring credit card balances to competitor cards with 0% or low APRs (your ability to do this will depend upon your credit history)

- comparing your utility bills to other providers to see if you're on the best tarrif. If not, you can usually switch

- reviewing your mortgage (if possible - will depend upon the terms of your current agreement) and any insurance packages associated with it - life, B&C, income protection, etc. This is about the only point that an FA would be interested in helping you with. Fees can vary, and can either be on a fixed-fee or commission basis. Shop around for an FA and try to go on personal recommendations, if this option appeals to you.