Do people need a personal finance manager ?
Date: Sun, 10/14/2007 - 21:46
I am wondering if personal finance manager offered a service where:
A. The community members who were interested in this service had their all paychecks and all bills sent to the Financial coach.
B. The personal finance manager paid the bills and every two weeks direct deposited the money left over after paying the bills back to the community member.
This will lead to:
1. No late fees or overdrafts ever as long as the community member is earning enough money.
2. It will curb a persons tendency to over spend before paying the bills.
Suppose this service cost $20 per month for a maximum of 10 bills and then $2 per bill.
Do you think I am delusional to think there is a
demand for a service like this ?
This service is being provided by credit counselors at present t
This service is being provided by credit counselors at present time,but their fees are not as cheap as you are suggesting.
Palm...that is how my debt management Program works...I have pai
Palm...that is how my debt management Program works...I have paid down about a 3rd of my debt so far. The thing that makes it work for me is that my counselor does council me. I am also taking a class through her to show me how to budget and watch my money so that hopefully at the end of the program when all my bills are paid I can keep myself debt free. Education is the key!! IMHO
But...
I researched what both of you said and found that THEY DO NOT offer the services I'm thinking of. They will not take your paychecks from you and pay your bills. The service I'm thinking of would be targeted toward people who already have budgets but can't stick to one. The services you guys mentioned only provide consolidation and counseling (budget help).
Do you know of a service, cheaper than an accountant's services, that pays your bills for you, puts ten percent of what's left over (or whatever you specify) into savings, and gives you the rest in cash so that you won't overspend? I don't think it exists... But is there a market for such services?
I think there is a HUGE market for something like that. Think of
I think there is a HUGE market for something like that. Think of it a personal assistant. The key, though, is fear. You are giving your life away to someone who could easily just disappear with your money and you are high and dry. Fraud is an issue.
And how would you ever learn to take care of these things yourse
And how would you ever learn to take care of these things yourself?? There would be too many issues to turning your financial life over to someone else. Not sure I would ever have that kind of trust.