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Ever heard of the saying 'money is the root of all evil'? Well, for many Australians, money is the root of all stress and strains, according to a new poll.
Financial situations - including credit card debts and home loan repayments - mean that 50 per cent of Australians are worried, anxious and stressed about their money.
Money is so stressful that 90 per cent of those which struggle to cope do not know where to turn to when bills, loans and overdrafts get too much for them, the study by the Australian Literacy Foundation revealed.
So where do you turn if it is all getting too much?
Financial planning is probably the best known source of financial advice across Australia. Professional financial planners are licensed to provide all sorts of financial; advice and can put consumers on the right track.
Heather McEvoy, consumer relations manager of the Financial Planning Association, told the Courier Mail: "(It's) the process of developing strategies to help you manage all your financial affairs to meet life goals.
"For example, a financial planner can help you with setting financial goals, budgeting, debt management, taking out a mortgage, understanding the benefits and risks of investing, saving and investing, superannuation, retirement planning, insurance protection, managing tax, managing debt, planning for unforeseen events and accessing government benefits."
However, such advice does not come cheap. A financial planner could set you back by between $1,500 and $20,000, depending on the complexity of the advice.
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