I really need some hand holding. I’m a beginner and need help with budgeting and investing. Whats my first step? – MarketWatch

How to find a financial adviser if youre new to money management Getty Images/iStockphoto

Question: I definitely need a financial advisor. Im a beginner so I need someone who can take me by the hand and help me to understand what to do and why, in terms of budget and investments. What should be my first step? I really need some hand-holding. (Looking for a financial adviser too? You can use this tool to get matched with a financial adviser who might meet your needs.)

Answer: First up, kudos for recognizing that you need help with your finances. Were all beginners at one time and its great that youre asking for help, says certified financial planner Jay Zigmont, founder of Childfree Wealth. You say you definitely need a financial adviser and that may be true but whatever route you go in, you should also work on educating yourself about personal finance via books, websites, and more.

If you go the adviser route, Zigmont says it sounds like youll want an advice-only adviser, which means youre paying them for their time to help you learn, says Zigmont. Advice-only planners work either hourly or on a project basis and their rates can vary from $200 to $500 per hour or between $1,000 and $7,500 per plan. They wont manage assets for you, but instead help you to understand the many facets of your finances and where you should be focusing your efforts.

Danielle Miura, certified financial planner at Spark Financials, says its important to find an adviser who is willing to be your partner on your journey and understands your fears and values. Miura says, Any licensed financial adviser can give you advice about your budget and investments, but are they skilled enough to teach you?

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A good first step in finding a planner is to think about the main things you want from an adviser. Understand what youre looking for and what you need. Do you need someone to teach you how to budget or just help you get set up with the right budgeting tool? Do you need an adviser to be a monthly accountability partner for your budget or can you stick to it on your own? By figuring out what you need and communicating that to the advisers you interview, itll better help you find an adviser thats going to offer the services you need as well as have a clearer expectation of what your adviser is going to do, says certified financial planner Kyle Hill of Hill-Top Financial Planning.

Looking for a financial adviser too? You can use this tool to get matched with a financial adviser who might meet your needs.

The good news is you have a lot of options. Start researching advisers and remember that you can work with someone remotely if youre comfortable doing that. A virtual relationship opens up many more possibilities and youre more likely to find somebody who is a perfect fit, says Justin Pritchard at Approach Financial. You can find fee-only advisers from directories at XY Planning Network, Garrett Planning Network and NAPFA.Its also wise to look at their regulatory and disciplinary background, adds Pritchard.

One of the most important things you can do during the adviser interview process is ask questions (this guide will help you understand what to ask). Dont be afraid to ask questions and say I dont understand. If they wont take the time to help you understand something or say its too complicated, then you need to find someone else. Find an adviser that has the heart of a teacher. Your job isnt to become an expert, but knowledgeable enough that you understand why youre doing what youre doing, says Hill.

Finally, have some conversations and speak with several advisers before making any decisions. Ask for details about their fees, services, what to expect and anything else on your mind youll learn a lot during that process, says Pritchard.

Looking for a financial adviser too? You can use this tool to get matched with a financial adviser who might meet your needs.

And adviser or not, you should immediately start saving money out of every paycheck if you can. Start with 1% of your income, direct deposited into a savings account with each paycheck, says certified financial planner Ken Robinson of Practical Financial Planning. After you get used to that, try increasing it by 1% and repeat until youre saving as much as you can with a goal of working toward saving 12% to 15% of your gross income, says Robinson.

Have an issue with your financial adviser or looking to hire a new one? Email picks@marketwatch.com.

The Advicer questions are edited for brevity and clarity.

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I really need some hand holding. I'm a beginner and need help with budgeting and investing. Whats my first step? - MarketWatch