close friends could be the first ones giving out money advice
Springfield, IL (PRWEB) October 10, 2017
Financial advice is something that consumers need all throughout their lives but National Debt Relief lists out sources where it might not be wise to heed money advice from. The article titled “4 People You Want to but Shouldn’t Take Financial Advice From” released October 9, 2017 helps consumers identify certain groups of people who might not be in the best position to give out financial advice to consumers in need.
The article starts off by pointing out once consumers get into any type of financial trouble, there will be a lot of people surrounding them who would be quick to give out pieces of financial advice. The hard part is trying to identify which ones can actually do them good. This is because as much as the advice being given comes from good intentions, the financial knowledge of those giving them out those have its limits.
For one, the article shares that close friends could be the first ones giving out money advice to consumers. Close friends would usually be in the know when it comes to personal and even sensitive information on a person. This puts them in a great position to dish out money advice based solely on that premise. However, their desire to see their friends be comfortable could prohibit them from giving out an honest financial assessment.
There are also times when it is tempting for consumers to simply confide in their co-workers as they spend most of the day together. However, co-workers might not know enough about a person’s long term goals and their past and aren’t qualified enough to be offering financial advice.
The article also explains that some consumers would quickly take any financial advice from people who are better off than they are as absolute truth. This should not be the case because what worked for other people might not for for others. The way to financial security achieved by affluent members of society is not enough to make them financial advisors.
To read the full article, click https://www.nationaldebtrelief.com/4-people-shouldnt-take-financial-advice/