What is the primary purpose of financial counseling?

The primary purpose of financial counseling is to help clients improve their financial literacy and management skills. This involves educating clients on various financial concepts, promoting understanding of personal finance, and empowering them to make informed choices regarding their finances. Financial counselors aim to enhance clients' overall ability to manage their money effectively, which encompasses budgeting, understanding credit and debt, and setting realistic financial goals.

While assisting clients with investment decisions, preparing tax returns, and creating retirement plans may be part of a financial counselor's role, these tasks often require specialized knowledge or certification beyond the general financial literacy focus. Financial counseling prioritizes building a strong foundation of understanding and skills that clients can use to navigate all aspects of their financial lives.