Critics of financial counseling tend to argue that it (financial counseling) doesn’t really yield positive results. And indeed, it is true that there are people who have gone through numerous financial counseling sessions, without ever getting any positive results. But there are also many more people who claim to have gotten positive results, following financial counseling. So it is a mixed picture.
There are individuals who had totally lost control of their finances but who, through financial counseling, were able to regain control and thrive financially. This is where, for instance, you find a person who was living on a paycheck to paycheck basis. If the person was working for an organization that uses the Securitas payroll system, he would be among the first to visit the paychecks website, at www.securitasepay.com. He would do this consistently, towards every month end – to see if the paychecks on the Securitasepay portal were ready. All that on account of poor financial management. Then through financial counseling, that individual is brought to a level where he can manage his finances responsibly. He is brought a level where he is able to accumulate savings, and where doesn’t lead a ‘paycheck to paycheck existence’. How, then, can you persuade a person who has achieved such outcomes through financial counseling that it (financial counseling) doesn’t yield positive results? How do you persuade him, yet he can see the results in his very life?
Therefore, the answer to the question as to whether financial counseling does yield positive results has to be nuanced. The best way to answer that question is by stating that financial counseling does indeed yield positive results for some people. In fact, we can be even more confident, and assert that financial counseling does yield positive results for most of the clients who seek it. Financial counseling is helpful to anyone and everyone who is ready to improve his financial management. But it is not a panacea. If someone is unwilling to apply himself, then financial counseling is unlikely to be of much help to him. But when all is said and done, financial counseling does really yield positive results for most of the people who seek it.