People will make bad decisions and financial wellness suffers. They decide to use forbearance to manage a college loan or pay a medical bill before the health insurer has paid its share. It is unfair to say those with debt are frivolous spenders. However, it is safe to assume they don’t know what to do. Access to the right information is important.
So Many Options
Unreliable sources of information and online “experts” will give ideas that may not be good. Trouble arises when an individual is financially illiterate. His or her choices can be the result of believing the wrong money guru or a poorly written financial blog. No relationship develops. The online advisor addresses a general audience and rarely works with an individual. It is easy to make financial mistakes when there is a lot of information and no one to help sort the good from the bad. Continue reading