Organizations/methods to help others with finances?

[Milly]

Kork13 and I are looking for a way to reach out and help individuals, but don't know how. I even looked into getting credentials. You can pay about $300 to become a certified financial education instructor and about $100 annually in renewals or about $10K to become a certified financial planner (don't know the renewals). Neither makes any sense without a way to use it. Also, if I'm paying those types of fees, I'd have to monetize my services.

I started my blog as my way to reach out, but scattering financial pins onto Pinterest only works for people who already realize there is education out there and are ready to move forward. I'd love to work with individuals. I even tried my darndest to work with my sister, but she doesn't answer my calls or emails or texts.

Do you know of any organizations or have any strategies to help individuals? How do I ask people I know how they are doing financially? It is weird to go from friend to financial coach, especially since I'm just at the beginning of my journey.

My goal is to get people who feel stuck in life some traction so they can start moving forward again, feel empowered, and eventually reach their dreams.

[rennigade]

Do you know of any organizations or have any strategies to help individuals? How do I ask people I know how they are doing financially? It is weird to go from friend to financial coach, especially since I'm just at the beginning of my journey.

You dont. Could you imagine how awkward it would be for the person you're asking? If they're terrible with finances they probably wont want to tell you. If they're great with finances and have a higher net worth...they still wont want to tell you. The internet is the best place to discuss these matters. Much more privacy.

This is a slippery slope...and a great way to lose friends. What happens when you give advice, your friend takes it then the market tanks? You will get blamed for this.

I would tread lightly. Im not saying there arent ways to help people...but the above approach isnt one of them. Instead maybe have them check out this site, bogleheads, or early-retirement.org.

[Jluke]

Start your own business as a financial coach - then you can solicit people directly or via email, mail, etc.



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[bjl584]

I'd be careful coaching individuals. Make sure that you have the proper certifications before proceeding to avoid someone suing you over "bad advice."

There are former members of this forum that had to quit posting here because of their profession. You have to be very careful about the advice you give and the platform that you give it on.

[phantom]

I've sometimes wondered if there are programs out there like Dave Ramsey's Financial Peace that train volunteers to teach a set curriculum. I've often thought it would be fun to teach Financial Peace, but I'd have a hard time telling people to cut up their credit cards when I don't see the need to do it myself.

[disneysteve]

How do I ask people I know how they are doing financially?

You don't ask. It's none of your business how they're doing. If you want to get certified and go out and start a business, that's one thing, but I definitely wouldn't go soliciting friends and family as clients.

[GoodSteward]

I know the feeling of wanting to help like this, but sadly what others have said is true. I have one notch up on most as a minister to have the "freedom" to be exposed to someone's business when they approach me because, well, it's part of being a minister. That said, it STILL isn't good practice to ask or even get involved without being asked because people don't want to talk about it. Even more so most are too embarrassed about it, or think they already have it figured out. In either case, they won't listen to you, and will be offended if you press them. If they ask, usually they are just looking for approval. if you don't approve, they get offended. Money and religion are closely related to how it affects people and how they interact with it.

I was(technically still am) part of financial advisement company that did just what you are wanting, but I don't name them because I'm still technically involved as far as their books are concerned. However, I got out of it because the people above me just want to bring on more people, and to other people I looked like a salesman first - financial helper second. I also watched as people took this awesome advice they were given on getting out of debt and retiring well, and just blow it by trading up cars with terrible loans, taking out more loans for things, and financing more junk. Moral of the story, help people who want help and set a good example for people to look to and trust when they realize they need help. Otherwise, you will burn bridges and burn out.

[Milly]

Just so you don't think I make a habit of pushing relationships until they break: The sister thing is has nothing to do with money, the bridge between her and the rest of the family burnt down a long time ago. She actually started to open up to me when we could take our conversation away from emotions and family life and put it into spreadsheets and numbers... before dropping off the planet again.

I think it would be easier to maintain friendships than you think. Having a personal finance blog gives me a reasonable non-awkward platform to discuss whatever I'm studying at the moment or to ask them for their advice. If they open up and I see a place I can actually help, I could then offer to help them write a financial plan (or whatever). If they don't want it, no worries.

Strategy: Talk to more people at the park to get more acquaintances. Bring up what financial item is on my mind in conversations with current friends.

I guess I just answered my own question. Sometimes it just takes a bunch of people telling you not to do something for me to find a way to make it work. I'm extremely stubborn. I just was hoping there was a more structured program for it.

[~bs]

they ask you if you can help them financially. you don't ask them.

If someone walked up to you and asked for your personal record information - height, weight, age, birthday, mother's maiden name, marital status, etc etc would you give it to them? No, because it's none of their business unless you volunteer the information up to them.

[disneysteve]

If they open up and I see a place I can actually help, I could then offer to help them write a financial plan (or whatever).

Offering to help is one thing. If you want to monetize your services, that's entirely different.

A. You know, Sue, I'm actually pretty good at working with that sort of thing. Would you like me to help you out?

is very, very different than:

B. Sue, I recently became a certified financial education instructor. For just $50/hour, I could help you with that.

[AJ444]

Have you thought about running for your local school board and advocating more personal finance education? I think most school districts are very light on the subject and it is something everyone will need in their adult lives.

[PeggyHefferon]

I don't know anything about the legalities or certifications, but I have seen advertisements for stuff like this on grocery store and library bulletin boards.

They are popular places for people to advertise things locally. Typically have "take one" strips cut into the paper with a phone number.

Hope this helps

[Outdoorsygal]

Kork13 and I are looking for a way to reach out and help individuals, but don't know how. I even looked into getting credentials. You can pay about $300 to become a certified financial education instructor and about $100 annually in renewals or about $10K to become a certified financial planner (don't know the renewals). Neither makes any sense without a way to use it. Also, if I'm paying those types of fees, I'd have to monetize my services.

I started my blog as my way to reach out, but scattering financial pins onto Pinterest only works for people who already realize there is education out there and are ready to move forward. I'd love to work with individuals. I even tried my darndest to work with my sister, but she doesn't answer my calls or emails or texts.

Do you know of any organizations or have any strategies to help individuals? How do I ask people I know how they are doing financially? It is weird to go from friend to financial coach, especially since I'm just at the beginning of my journey.

My goal is to get people who feel stuck in life some traction so they can start moving forward again, feel empowered, and eventually reach their dreams.

Maybe get trained to be a volunteer tax preparer? Could be your opening.

https://www.irs.gov/individuals/irs-tax-volunteers

The City of Sacramento offers this free tax service (VITA) for people whose income is up to 54K per yr

I don't like anyone asking me about my personal finances. So your sister not responding might be a hint.

You might be able to mention that you have a financial blog as you are volunteering.
Don't mention your credentials, just list it on your website. They'll call if they want
Much more talk would be walking a line IMHO.
You'd only get low income-moderate income folks.

Our adult school offers classes for almost everything. You are paid a cut of the attendance proceeds paid for the classes. Pretty simple.
If it were me, I would make this more of a hobby than an occupation. People don't like financial planners. They are sorta like used car salesman

.

[PeggyHefferon]

Another idea I just thought of was to contact local charities. A neighbor of mine volunteers at a local charity that helps abused women. I believe she helps with resumes to help get them into the workforce. I am sure charities like that would welcome someone to come in to talk about personal finance topics.

[Singuy]

I feel like everyone knows exactly what it takes to be wealthy, just like how everyone knows exactly what it takes to be fit. The excuse "easier said than done" is the sole reason why we have an obesity epidemic and a debt problem.

So I really don't know how many people you can help if people could care less about trading hard work and sacrifice for wealth in a nation in which the saying "money can't buy you happiness" is celebrated.