| Sometimes we hate talking about money for the sole | | | | finance or accounting professional, your advice on |
| reason that we know we are going to get unwanted | | | | stocks or taxes may have much more behind them |
| advice. If you mention to your mother that you | | | | than someone who isn't a financial professional. |
| almost didn't have enough to pay your mortgage this | | | | People will listen to you, maybe even ask you for |
| month you'll get an earful about how to save money | | | | advice. Make sure that when you give them advice |
| or not to buy what you can't afford. If you mention | | | | you are neither selling yourself short by giving |
| to a friend that you have some extra money that | | | | excessive free financial advice, and that you are |
| you want to put in a mutual fund and a stock | | | | giving correct advice without an ulterior motive. |
| enthusiast overhears, you'll hear all about the new | | | | Never tell someone to buy something because you'll |
| company you MUST buy stock in. | | | | get a commission, and only do so if you are 100% |
| Financial advice comes from all around, but we often | | | | sure of yourself. |
| don't want to hear it. Why don't we want to hear it? | | | | If you have been in a similar situation as a friend in |
| First of all, no one wants money advice from | | | | trouble, you might be the right person to talk to. |
| someone who knows nothing a finance, let alone | | | | Maybe they have kids going to college and need |
| someone who mismanages their money and is | | | | some help finding financial aid and you just went |
| constantly in debt. If someone doesn't have the | | | | through the same with your own children. This gives |
| knowledge or experience, we don't listen to them. | | | | you credibility and an honest opinion. |
| We also might not listen to them if we feel we know | | | | No matter what you give advice on and no matter |
| better or just honestly dislike the person. Our pride | | | | what your circumstances are make sure there is an |
| may get in the way of good advice or save us for | | | | understanding between the person you are speaking |
| bad advice. | | | | with and yourself that you are only giving your |
| Sometimes we fall into the opposite situation. We | | | | opinion. You don't want to end up with any lawsuits |
| hear of someone else's financial shortcomings and | | | | or trouble. If you are worried that your advice might |
| feel we can help by giving them some advice. Can | | | | be a little sour, don't give it, and if you are worried |
| we do this? Are we any better than the others | | | | that the person you are talking to doesn't always |
| trying to give us advice? | | | | understand you, don't try to persuade them. It's |
| There are plenty of good reasons for you to give | | | | always nice to help someone out, but keep your own |
| someone else financial advice, but you must keep in | | | | well being in mind. |
| mind it isn't always appropriate. First, if you are a | | | | |