I Just Gave People Financial Advice…

And I loved giving it! They asked for my advice (which is something I should wait for instead of giving people financial advice who didn’t ask me for it) and I shared my view on their financial situation with them. It came down to: throw lots and lots of cash at your mortgage. (They’re an elderly couple with a mortgage that’s way too high for them…it’s higher than our mortgage, for cryin’ out loud!)

I really think I should become some sort of budget/howtohandleyourmoney/getoutofdebt type of coach person on a professional basis. It would just give me so much pleasure to help people out, giving genuine advice on how to handle their finances. The thing is…if I want to do this professionally I’d have to charge people money. However, asking people for money for my advice who are already in debt would make me feel rather uncomfortable.

So this is actually a very bad business model, haha!

I’ll go and think about this…any suggestions?

Love,

Mrs EconoWiser

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7 thoughts on “I Just Gave People Financial Advice…

  1. joop

    Interesting, I was thinking about this as well last week. I see so many spending everything they have without seeing the repercussions for their lifestyle on the long term; I was thinking it could be a volunteering activity, but it falls short in what you describe: People don’t want people to mingle their affairs without asking!

    Reply
  2. MsIdun

    Werken voor een schuldhulpverleningsinstantie. Elke gemeente moet wettelijk verplicht schuldhulpverlening bieden. Grote gemeenten hebben hiervoor eigen afdelingen (vaak Kredietbank genoemd) en kleinere gemeenten kopen de dienstverlening in. Als budgetconsulent of schuldbemiddelaar doe je op onderdelen wat je hierboven beschrijft. De dienstverlening door gemeenten op dit vlak is gratis voor de afnemers en dat betalen we vervolgens met zijn allen via de Belastingcentjes.

    Reply
    1. econowiser Post author

      Bedankt voor alle opties! Heel suffig misschien…maar de cases die je bij de WSNP voor je kiezen krijgt zouden mij uiterst ongelukkig maken. Ik zou het werk mee naar huis nemen…ben er denk ik te gevoelig voor. Ik zat meer te denken aan een “gezelligere” optie…misschien budgetcoaching voor (boven)modale inkomens. Misschien is dat juist wel een nichemarkt waar veel vraag is. Voor minima en mensen in WSNP is er al vanalles.

      Reply
  3. Monique

    Werken als bewindvoerder? Ik denk, dat er wel verschillende eisen worden gesteld, maar als dit niet voor de WSNP is, zullen deze waarschijnlijk lager zijn.

    Reply
  4. joop

    Hi! Talking about giving advice. I’ve been reading back on your blog and read about SNS, Binck; I’m really curious about what you found is the optimal way to invest in Vanguard ETF’s. I hope you are willing to share this information!

    Reply
    1. econowiser Post author

      Hi Joop, we don’t dare to do a lump sum investment just yet…so we invest a certain amount each month. I’ll invest the amount in the uneven months and my husband will invest the amount in the even months. We have separate accounts, but we add everything together in our monthly overview. It’s not worth it to invest €100 in Vanguard ETFs through BinckBank, since you have to pay €10 fee in transaction costs. Investing this way is only feasable if you’re investing a larger amount in one go.

      Reply

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