Tools and tactics to do your own financial planning

In one particular chickenand-egg debate, what comes first is clear: It makes sense to hire a financial adviser only after you can afford one — not in the hopes of building wealth someday.

Financial advisers often require a minimum amount of investable assets (for many advisers that amount is at least $250,000), and their fees can place financial planning out of reach for many. Fortunately, there are less expensive — even free — resources that make financial planning accessible to most people.

Because time is a powerful ally when it comes to building your money, it’s important to get started as soon as possible. Here’s how to begin.

Find quality free advice

A good financial adviser asks questions to understand a client’s finances and goals; doit-yourselfers can find tools to replicate those steps. The internet is awash with information, including tools for creating (and keeping to) a budget, seeing how much home you can afford, and calculating loan payments or your readiness for retirement.

The following sources of free financial advice can help you navigate this journey:

Financial institutions

It’s hip to talk about personal finance and you may have access to tools and other useful information from your current providers. Many banks and credit unions have free budgeting and financial-planning tools. Employers and

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CHARLES KRUPA — THE ASSOCIATED PRESS FILE PHOTO The idea of having enough money to hire a financial adviser seems like a dream for many. Fortunately, there are less expensive, even free, ways to take a do-it-yourself approach to managing and growing your money.