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Would you allow an outside person (financial planner) make all you money decisions?

For those of you that seem to never have enough money to pay your bills, buy food, etc...
If a financial planner type person (free of charge) took charge of your finances would you allow him to make all your decisions for you if it meant you would be able to pay all your bills but not be able to do the extra things you may want, (like cell phone, cable, go out to eat, etc...)
Just curious what people would do. Kind of a question because of the show "Downsized" where the financial planner told them what they needed to do but they didn't want to give up certain things, felt they deserved them.


Asked by tony1638 at 4:26 PM on Dec. 3, 2010 in Money & Work

Level 17 (3,733 Credits)
This question is closed.
Answers (9)
  • 1. If it was free
    2. If they KNEW what they were doing
    3. If they sat down & showed us long time goals & where it was heading
    HECK YES! Please send them my way!
    I am the one managing everything right now, just some general guidance would be great. Right now its a week by week thing, we are slowly building money & will be paying off our car 3mo early (ohh wooptii -sarcasm)
    Once the car is payed of .. its gonna be AWESOME!!!! :-) We are starting to save for our first house!!! So we need this!! (we are living with my mom)

    Answer by MommaTasha1003 at 4:37 PM on Dec. 3, 2010

  • I kinda have it's my Brother in law he has been helping us out but he doesn't tell us how to spend every dime but now we able to save money better

    Answer by Justins_mommy05 at 4:27 PM on Dec. 3, 2010

  • Yes at this point I Would.

    Answer by maxsmom11807 at 4:29 PM on Dec. 3, 2010

  • Suggestions and information only.

    Answer by Bmat at 4:32 PM on Dec. 3, 2010

  • I have just what I need and do not spen above that but now that I have my own business I know I have to spend on things we need but we have a budget.

    Answer by pinkdragon36 at 4:33 PM on Dec. 3, 2010

  • Never.

    Answer by tasches at 4:54 PM on Dec. 3, 2010

  • Absolutely not; I am the best financial planner for me. I would not relinquish control of money matters to anyone.

    Answer by FootballMom85 at 5:44 PM on Dec. 3, 2010

  • No I wouldn't. I enjoy being in control of our money. Plus it's so risky. What if they started stealing money from you? How would you know? And then what if they invested it badly. It's your money not theirs.

    I do however know people that wish that someone else would just take control and just give them the money they'd need to spend on groceries etc. Really though unless you're mentally disabled I think we should all man up and take care of our own finances. Asking for advice is fine, but there's really no reason for most of us to not take control of our money.

    Answer by Erica_Smerica at 6:22 PM on Dec. 3, 2010

  • I'm not always the best at it, so yes if the circumstances called for it.

    Answer by Musicmom80 at 6:22 PM on Dec. 3, 2010