A financial counselor is a type of advisor who helps clients manage their personal finances, including budgeting, debt and saving. They often work at banks, credit unions, non-profits or government agencies, where they may also assist with navigating public benefits. A financial counselor usually doesn’t manage investments or give investment advice.
What financial counselors do
Generally, a financial counselor could assist you with:
Understanding basic financial principles.
Managing debt.
Learning money management.
Coming up with financial goals and creating a strategy to work toward them.
Understanding how money plays into personal relationships and self-esteem.
Figuring out if you’re eligible for certain tax credits.
Getting help from public assistance agencies.
Understanding your credit score.
Financial counselors may have additional training in areas such as military pay and benefits or helping people with disabilities navigate their finances.
Housing counselors are a specific kind of financial counselor. They help people find affordable housing, navigate reverse mortgages and avoid foreclosure. The U.S. Department of Housing and Urban Development also has a tool to search for housing counselors.
How much do financial counselors cost?
Financial counselor fees can vary, and it may depend on where the counselor works. Those at banks, credit unions, colleges or other nonprofits or government agencies, like the military, may be free for eligible clients. Financial counselors in private practice may charge an hourly rate or a flat fee.
» Dive deeper: financial advisor costs
How to find a financial counselor
The title “financial counselor” isn’t regulated, and it doesn’t guarantee the person has specific training. If you want to work with a financial counselor, consider finding one with an Accredited Financial Counselor (AFC) certification. This designation is from the Association for Financial Counseling & Planning Education. It indicates that an advisor has over 1,000 hours of financial counseling experience and has passed the AFC exam.
Financial counselors vs. financial advisors
The main difference between a financial counselor and a financial advisor is that a financial counselor doesn’t manage investments or give investment advice.
Financial advisors offer a wider range of services compared to financial counselors. They work with clients on portfolio management, financial plans, complicated tax situations and estate planning.
If you’re looking for help with things like budgeting and saving, a financial counselor with an AFC certification could be a good, lower-cost fit.
If you need investment management help or a complete financial plan, a financial advisor (ideally a certified financial planner) might be the right fit for you.
» Not sure what you’re looking for? Our picks for the best financial advisors and what they offer
Article sources
- 1.Association for Financial Counseling & Planning Education. AFC Candidate Handbook. Accessed Apr 6, 2026.
