It’s easy to find free financial information on the internet. Whether it’s reading blogs, scrolling social media, or listening to podcasts, free financial information is abundant.

Free financial advice, however, is much harder to find.

Financial advice is financial information tailored to your situation. While it’s useful to understand tax brackets and tax credits, it’s only actionable if you take into account your tax situation.

Fortunately, there are still places you can get free financial advice. None of these will replace what a financial advisor can do for you, but they can help answer some of your questions.

If you want to speak with a FINRA/SEC Registered advisor for an initial consultation with no obligation to hire them, take a look at Wiser Advisor. They can match you with someone who meets your specific needs.

1. Your Bank or Credit Union

Your local bank or credit union (I’d try credit union first) can work with you to discuss the options available to you.

You’ve likely experience some of this before if you carry a large balance. The teller may suggest putting it in a certificate of deposit. If you’re working with a banker, they suggest opening a brokerage account.

If you have questions related to banking, this can be a good resource. If you have other questions, like when to take Social Security, they are unlikely to be as helpful as it’s not their expertise.

Also, they have an interest in getting you to use more of their products. So they’re more likely to steer you in certain directions.

2. Your Local Library

Your local library may offer classes or host events in which you can get financial advice. This won’t be available all the time, so I’d ask a library or check your library’s website for a schedule of events.

You’re more likely to see these events in April, which is Financial Literacy Month. My local library in Howard County has a whole series of workshops and events (here is the 2024 calendar).

For younger kids, the American Library Association has a Thinking Money for Kids series co-created by the FINRA Investor Education Foundation. This is more financial information but good for help your kids better understand their money.

3. HUD-Counselors

The Department of Housing and Urban Development (HUD) will offer free housing advice for free (or for a low cost), so if you need that type of advice then it’s a good option. It’s not just for home buying advice, it’s also rental housing, foreclosure assistance, credit and more.

If it’s housing related, you could find help with a counselor approved by HUD. To find them, you can search this database of HUD-approved counseling agencies. (though I wish the search tool would list the website of the agency)

4. Financial Planning Association

The Financial Planning Association (FPA) offers pro bono financial planning services for “low-income individuals and families, military personnel/veterans, domestic violence survivors; people affected by natural disasters, serious medical crises, bankruptcy, etc.” The FPA is the trade association for Certified Financial Planner professionals.

There are 77 chapters across the country (there is not one in every state, unfortunately) and you can find them using this tool. If you think you qualify, reach out to the chapter near you for help.

5. Foundation for Financial Planning

The Foundation for Financial Planning is another trade group for financial planning that puts people in need with volunteer financial planners. You can learn more from their website.

6. IRS Tax Preparation Programs

If you just need tax assistance, the IRS offers two free tax preparation programs:

• The Volunteer Income Tax Assistance (VITA) program is for folks who generally make $67,000 or less and/or is a person with disabilities and/or limited English-speaking taxpayers.
• The Tax Counseling for the Elderly (TCE) program is for those age 60 and older.

If you need tax assistance and don’t qualify for either of those programs, search to see if your state has a similar program. Maryland has a few and your state may do too.

7. AARP Foundation Tax-Aide

For those 50 and older, who perhaps don’t qualify for the IRS TCE program (which is 60 and older), you could get tax assistance from the AARP Foundation.

The AARP Foundation Tax-Aide program provides free tax assistance to anyone 50 and older – you do not need to be an AARP member. There are no income restrictions. The volunteers are IRS-certified and worked with 1.7 million people last year.

Use their Tax-Aide locator to find one near you.

If you are looking for free or pro bono financial advice, one of these resources could be helpful!