The world of finance can be complicated, and many of us are not prepared to handle our money. Should we consider a financial advisor?

My philosophy as a Money Coach is to encourage and empower people to take care of their own finances.

Here are things to consider:

Most financial professionals are "investment advisors." They are only interested if you have money to invest. Investments, however, are a small part of personal finance - there is budgeting, taxes, retirement, insurance, and hit by a truck planning.

Financial Planning is not that complicated. The first two questions I ask potential clients are "Do you make more than you spend?" and "Do you pay your credit cards off each month?" If the answer is "no," then you are in financial trouble. But you don't need to pay someone to tell you what you should do. If you spend more than you make, you need either to make more or spend less. You should pay off your credit card each month.

You don't necessarily need a financial advisor. What you need is common sense and motivation. Most of us know what to do, it is the "doing it" that is a problem. You need a motivator - yourself, spouse, parent, or a coach.

Investments may be complicated to some. Concentrate on the other areas first - budget (balance it), taxes (know how they work), retirement (save at least 10% of every paycheck), insurance (have adequate insurance for those things you cannot afford to lose), and hit by a truck (prepare for the worst).

Here's the first step in finding the person responsible for your finances. You (or you and your spouse) step into the bathroom and look into the mirror. There staring back at you is the person (or persons) responsible for your finances.

Bill Stanley is the Money Coach - MoneyCoachBill@aol.com. First presented on Fox 21 Morning News on July 1, 2008.