A financial planner can provide oversight and accountability to ensure you are spending the right amount given your income and that you aren’t going into debt throughout your financial life.
For example, if you lose your job without severance and expect you can return to work within six months, your emergency fund combined with your unemployment income should help you bridge the gap between jobs.
A financial plan will determine which debt you should pay off first and how quickly to repay it. Suppose the interest rate is fixed and relatively low.
In that case, a financial planner may suggest not paying off certain debts more quickly, especially if this frees up your dollars for savings or investments, which may offer higher returns.