Getting help with your finances

Managing your money can be hard to do all by yourself. Resources like Sorted can take you a long way. But sometimes you need a little extra help keeping on the right track or making decisions. 

There are a variety of professional advisers that can help. They range from budget advisers to bank staff, mortgage brokers, financial planners, insurance brokers, sharebrokers, lawyers and accountants.

Most can help you organise your finances, but not all are skilled in managing investment portfolios or able to sell life insurance, for example.

The best place to get budgeting advice is from budget advisers associated with the New Zealand Federation of Family Budgeting Services. You can call them free on 0508 BUDGET (0508 283 438) or look in the White Pages under “Budget Advice Services”. Bank staff and many mortgage brokers can also help their customers with budgeting.

If you need health and life insurance you may need to see an insurance broker. For advice about building a portfolio of shares or funds and other investments you could see a financial planner or stockbroker.

It's always important to know how advisers make their money. Budget advisers and bank staff don't usually charge for their advice. Most mortgage brokers, insurance brokers, and financial planners take commission from lenders and other financial institutions.  But some advisers charge by the hour.

Choosing an adviser should be done with care. Ask people you know for recommendations and always check out advisers' credentials as well as interviewing several before you decide who to go with.

For more information on how to make an informed decision about financial advice, visit our Getting help page.

Published 7 September 2009