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If you’re struggling to get a handle on debt, a financial advisor may be able to help you prioritize your payments and establish a budget. They can also provide other services, such as investment advice, income tax preparation, and estate planning. Here is what you need to know about hiring and working with a financial advisor.
Key Takeaways
- A financial advisor can help create a plan for managing your debt.
- Typically the plan will be to pay off the debts with the highest interest rates first and then work down the list.
- Ensure your financial advisor has credentials, such as a certified financial planner (CFP).
- Financial advisors are often paid on an hourly basis. They may provide fee and low-cost services.