When you’re wanting to buy your dream house, finance that dream holiday or simply improve your credit rating, this isn’t always easy and probably not as easy as it sounds for most of us. However you can actually get some excellent benefits by using the services of a financial advisor. In this guide, we’re going to help you do this with some tips from Jayhawk Advisors who can help prioritise what clients need by offering a single monthly payment with low interest rates.
Why use a Financial Advisor
Less Paperwork for You
Take for example buying your own home, or funding kids college or what about that dream holiday. You need to review your financial position and consider if one payment would be more beneficial from a planning point of view than managing multiple outgoings a month, for example credit card, home loan, car loan, overdraft. If you go a financial advisor with a pretty decent record, then you’ll be able to find who can recommend and assist you obtain a one payment loan that fits your needs, and it will save you the time and the paperwork of having to find all of the lenders yourself, let alone, shopping around, dealing with queries etc. Paper work can often be very stressful with multiple pages of information to be filled out and back up to be obtained.
Lower interest rate
Often it can be more beneficial when your financial position becomes clear is to consider the high interest loans such as credit cards, overdrafts and consolidate that into one payment for example via a personal loan where in variably the rate will be cheaper. According to Wikipedia the interest rate is the interest due per period, as a proportion of the amount lent, deposited or borrowed. Getting your head around the jargon can be challenging itself. Try not to get bogged down in the jargon as your advisor will be able to help you get to grips with these terms.
One of the things a financial advisor can do is assist in arranging a one time monthly payment which will make it easier to forecast, plan and meet your obligations. Another major plus is that meeting the one payment may mean that you are less likely to fall behind thus adversely affecting your credit rating. Something none of us want to happen.
One thing to bear in mind that because the term may be longer you will need to factor that into your own planning, particularly if you are near retirement age.
If you’re looking for the best possible advisor – do your homework. Ask around, get recommendations and most importantly meet them in person. Just make sure that you always do your homework, and if there is anything that looks extremely bad, you’ll want to make sure you get some sort of verification involved, check their credentials. Also worth shopping around at potential fees they might charge. Don’t ever give your pertinent information to just anyone. Ask around and make sure they’re a legit financial advisor.