What is the role of a credit counsellor?

A credit counsellor can offer you a number of services to help you become more in control of your finances.

Given today’s high cost of living, and how quickly the economy can change, financial well-being is an important skill to develop.

• People from all backgrounds seek out professional financial advice to make the most of their finances.
• However, a common question asked is: what is the role of a credit counsellor?

Most of us spend the majority of our adult life working, saving money and investing wherever we can.

• We may use our common sense or tips cobbled together from a variety of resources to try to get ahead.
• However, nothing beats a well-made plan.

• Manage and optimize your income sources
• Govern your debt load and payments
• Establish an action plan for long and short term goals
• Create an emergency financial pool

A credit counsellor is often a resource you would seek out when creditors have started calling, and you’re finding it difficult to get on top of debts to establish a re-payment plan.

• Credit counsellors provide financial advice, and can be intermediaries between individuals and credit institutions.

A credit counsellor can help you:

• Understand the importance of good credit
• Evaluate your expenditures
• Explore debt consolidation and debt management plans
• Highlight money management programs
• Help you see your income and expenses in a healthier way

The single greatest role of a credit counsellor is being someone who empowers you to feel in control of your finances.

• Even if credit counsellors are only the intermediary between you and the collections departments of banks or institutions, they can provide much needed relief for most families.
• Just getting that breathing room can often be enough to help people feel like they’re getting ahead with their finances.

However, being an expert in finances and debt-relief allows most credit counsellors to help people get beyond their immediate financial crises, to develop robust plans that allow them a greater buffer during lean times, and greater financial independence.

Search online, read reviews and ask around among your friends to find a credit counselling service to meet your needs.

• While it is important to make sure you protect yourself, most people find that talking to a credit counsellor means they are taking the first steps toward greater financial stability.
• This can be liberating in a way that lets them enjoy their life, follow a solid financial plan, and work toward being entirely debt free.