Financial counseling is related to financial planning, but focuses more narrowly on the areas of cash flow, budgeting and debt reduction. Doug Bellfy, AFC® is an Accredited Financial Counselor, having completed the education, examination and experience specifically in this area of expertise.
Is Financial Counseling right for you?
- You feel you make too much money to be this broke.
- You feel like the debt is completely overwhelming you and you don’t know where to start.
- You are working harder and harder to feel you are getting further and further behind.
- You are doing well but feel you could do better and want to move things along faster.
Fees are charged hourly at a rate that is lower than financial planning and please note that no financial planning will be done during this engagement. We will not make retirement projections, recommend portfolio strategies or do anything outside the scope of the financial counseling engagement.
We will focus all our energy on a plan for getting you out of excessive debt, balancing income and spending, building emergency reserves and ideally, convert you to a financial planning client. Success here is good for Synergy Financial Planning but it is great for our clients.
our Financial Counseling Engagements
We provide a step by step plan to improve your spending, credit and debt situation. We work together as a team to develop a system that works for you and attacks the things you need attacked. The process is not easy and it takes time, sacrifice and dedication on your part. In short, it requires change.
Some typical items we work on together include:
- Develop an income versus spending plan that provides enough surplus to impact your savings and debt reduction.
- Develop a debt payoff plan that provides step by step instructions to provide motivation and a means to eliminate the excessive debt that is taking your money each month.
- Develop a plan to establish an emergency fund to avoid having to rely on credit cards to cover surprises.
- Develop a plan to deal with irregular spending items that come up through the year.
- Develop a plan to increase your income to accelerate the debt elimination and savings process.
A positive outcome will typically mean you have cash backup for emergencies, no credit card debt, an understanding of your income and spending abilities and much less stress in your life. It also means you could be ready to start saving for retirement or other large goals and begin financial planning. Depending on your motivation, our time together has the potential to completely change your life.
Fees for this service can vary considerably, depending on the scope of the issues and the time required for the plan implementation. Ongoing monthly financial counseling sessions are also available.
To provide affordable rates for this service, in-person no cost initial meetings are not possible. However, a phone call to understand the engagement and answer any of your questions is encouraged.