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.

What is the role of a credit counsellor?

Developing the skill of financial well-being

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?

Planning for the road ahead

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.

A financial plan can help you

  • 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

What a credit counsellor offers

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 in other areas too

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 power of expertise

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.

Beyond immediate financial crisis

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.

Who you know

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.
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