Eleanor Blayney, CFP®, CFP Board's Consumer Advocate, discusses the “new realities” of today’s economy in a series of videos.

Watch the first episode of the video series:

     
      View this video on YouTube >

Watch the second episode of the video series: Putting Your Interests First

     
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Watch the third episode of the video series: Investing in Your Most Important Asset – You

     
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Watch the fourth episode of the video series: Take Charge of Your Debt

     
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Watch the fifth episode of the video series: Rethinking Home Ownership

     
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A Word from CFP Board's Consumer Advocate

Our recent economic downturn has shown us that we must re-examine some basic assumptions about the ways we manage our finances. What made sense pre-recession no longer works today.

I'm pleased to share with you a video series on the "New Financial Realities." In these videos, I offer nine personal finance strategies to help them plan for what's ahead:

1. Put your own financial interests first, and work with an advisor you can trust
2. Use a multi-prong approach; investing by itself will not get you where you want to be. Spending, saving, and budgeting all play equal parts in building wealth
3. Think of yourself as an asset; investing in yourself can yield returns far greater than other investments
4. Learn the difference between good debt and bad debt
5. Get smart about the pros and cons of home ownership
6. Know it's no longer about retirement; it's about reinventing yourself for the last third of your life
7. Get your kids involved in family financial planning. Now is the time to talk to your kids about finances
8. Do not sacrifice your financial well-being for your children
9. Become financially literate. Commit to learning all that you can

Eleanor Blayney, CFP®
consumeradvocate@CFPBoard.org

Learn more about Eleanor >

Ladies, Start Your Engines: Time to Stop Playing it Safe in the Workplace

Attention men: if you want to meet women, go to work. For the first time in our labor history, women will soon outnumber men in the workplace. Two factors are responsible for this landmark statistic: not only are more and more women choosing to work, even while having and raising children, but once in the workplace, fewer women are getting laid off than their male counterparts. According to the latest Bureau of Labor statistics, 10.3 percent of adult men are now unemployed, compared to 7.8 percent women.

Are glass ceilings being shattered here? Probably not. The reason for women's stronger hold on jobs is not because their economic contribution is finally being fairly and fully valued. Rather these new statistics reflect the kinds of positions women typically choose: "safe" jobs in sectors that have not been as hard hit by the current recession.
Read more >

Recent messages from Eleanor:

• Teach a Child, Reach the Nation: Why Financial Literacy Matters
• Notes from Detroit: Courage and Optimism from the Nation's Heartland
• Consumers Gain Confidence But Not Trust
• Credit CARD ACT of 2009 Could Spell trouble for Consumers
• Dad's Big Role in Teaching Financial Responsibility
• Self-Control is Better than Government Control

What You Should Know About Financial Planning

Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. For example, buying a particular investment product might help you pay off your mortgage faster or it might delay your retirement significantly. By viewing each financial decision as part of a whole, you can consider its short and long-term effects on your life goals. You can also adapt more easily to life changes and feel more secure that your goals are on track. Read more >

10 Questions to Ask When Choosing a Financial Planner

You want to select a competent, qualified financial planner with whom you feel comfortable, one whose business style suits your financial planning needs. A successful relationship with a financial planner starts with these 10 questions:

1. What experience do you have?
2. What are your qualifications?
3. What services do you offer?
4. What is your approach to financial planning?
5. Will you be the only person working with me?
6. How will I pay for your services?
7. How much do you typically charge?
8. Could anyone besides me benefit from your recommendations?
9. Have you ever been publicly disciplined for any unlawful or unethical actions in your professional career?
10. Can I have it in writing?

Why You Should Choose a CFP® Practitioner

CFP®, CERTIFIED FINANCIAL PLANNER™ and are certification marks owned by Certified Financial Planner Board of Standards Inc. (CFP Board), which can help you identify financial planners who are committed to competent and ethical behavior when providing financial planning. Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements. These standards are called “the four Es,” and they are four important reasons why the financial planning practitioner you select should display the CFP® certification marks. Read more >

Your Rights as a Financial Planning Client

If you’ve decided to work with a financial planner, it’s important to understand your rights in this professional relationship. A competent, ethical planner will seek to understand and meet your needs and will explain the reasons behind his or her decisions and actions. You can take an active role in shaping your financial future when you know your rights and what to expect from your financial planner. This checklist will help you determine your level of comfort with your existing financial planning relationship.

About CFP Board

The mission of Certified Financial Planner Board of Standards, Inc. (CFP Board) is to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. The Board of Directors, in furthering CFP Board’s mission, acts on behalf of the public, CFP® certificants and other stakeholders. CFP Board owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. CFP Board currently authorizes more than 60,000 individuals to use these marks in the United States.