A financial mentor can play a crucial role in helping individuals understand their finances better. But what exactly does a financial mentor do, and could you benefit from having one? Let's delve into these questions.
What is a Financial Mentor?
A financial mentor is someone who provides guidance on financial matters based on their own experiences and knowledge. They're not financial advisors, so they don't provide specific financial advice or sell financial products. Instead, they offer insights, share their experiences, and help you navigate your financial journey.
How Can a Financial Mentor Help?
Financial mentors can provide a fresh perspective on your financial situation. They can help you understand complex financial concepts, guide you in setting financial goals, and provide support as you work towards those goals. They can also share their own experiences, both successes and failures, providing real-world insights that you can learn from.
Do You Need a Financial Mentor?
Whether or not you need a financial mentor depends on your individual circ*mstances. If you're feeling overwhelmed by your finances, or if you're facing a significant financial decision and aren't sure where to turn, a financial mentor could be beneficial. They can provide guidance, support, and a listening ear, helping you feel more confident and informed about your financial decisions.
In New Zealand, there are several organisations that offer free financial mentoring services and you can find a list of financial mentoring services here: https://www.moneytalks.co.nz/. Where our applicants have complex financial sitaution we also partner with Debt Fix for specialist free support.
Sorted.org.nz is a free a free service by Te Ara Ahunga Ora Retirement Commission, the government-funded, independent agency dedicated to helping New Zealanders get ahead financially. Their resource hubs can be a valuable resource for anyone looking to improve their financial knowledge and confidence.
Remember, while a financial mentor can provide valuable guidance and support, they're not a substitute for professional financial advice. Always seek professional advice when making significant financial decisions. Money is always mahi, and part of that mahi is finding the right support.
