Life, as we all know is full of decisions...
Some are relatively small, unimportant decisions with little in the way of consequence but some are big, important decisions with very real repercussions if we choose wrongly.
A lot of those big decisions involve finances and while we might take advice from friends and relatives, the best advice of all usually comes from impartial professionals. Seeking financial advice is something all of us do, or certainly should be able to do at certain points in our lives. Yet that advice and the often high price that it costs can put it beyond the means of some.
Where can we go for good quality, professional help and advice regarding our finances, who can we turn to when faced with a money problem we simply don’t understand and how to we avoid the pitfalls of being scammed?
Fortunately there are a range of services, institutions and precious free resources available; here are some of the best.
The Money Advice Service
Set up by the government, The Money Advice Service offer straightforward, impartial money advice free of charge. There are a range of tools and calculators to help with planning ahead and keeping track of finances. They also offer real time help and support over the phone or via their website.
The Financial Services Register
A useful resource for businesses, The Financial Services Register allows users to ensure any financial firm is regulated by the Prudential Regulation Authority or The Financial Conduct Authority and that they are legitimately able to provide the services they advertise, this also provides the peace of mind of cover by the Financial Services Compensation Scheme should any problems arise.
Their list of individual prohibitions is also a valuable tool for spotting the people, and companies to steer clear of.
The Financial Ombudsman
For free resolution of financial disputes with regulated firms, when the company’s internal complaints procedure simply hasn’t worked, the FOS can be a real lifeline.
They can handle complaints linked to credit products, banking, pensions, insurance, mortgages and a range of other financial matters independently with legally enforceable rulings.
TaxAid
The tax system can be baffling to understand, fortunately there is a charitable organisation run by tax professionals to help make sense of it and offer help and support with tax related problems. TaxAid can help those earning less than £20,000 per year with matters such as appeals and paying the right amounts of tax. They can also cut through the jargon and help you identify information you need to provide.
Citizens Advice
A time-trusted resource for financial advice, Citizens advice can help with a wide range of financial and payment matters such as tax credits, debt management and
redundancy or employment disputes. They also have a wealth of resources dedicated to mortgage problems, pensions and banking.
They can help to signpost visitors towards the right kind of financial advisor with jargon-free information regarding the different types of financial advisors and how to ensure you get the right kind of financial advice for you.
Getting the help you need, when you need it should be something available to everyone when it comes to finance. Thanks to the volunteering efforts, hard work and dedication of organisations such as those above, financial advice is available to everyone.
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