Financial advisors play a crucial role in helping individuals plan for their long-term financial goals and secure their financial future. However, it's essential to find an advisor who offers balanced advice that is in your best interests. So, how do you recognize such advice? Here are a few key factors to consider.

Firstly, look for advisors with the right qualifications. In South Africa, top financial advisors often hold postgraduate qualifications, such as the Postgraduate Diploma in Financial Planning, and are certified financial planners (CFP). These qualifications indicate their expertise and commitment to professional standards.

Next, consider the advisor's compensation model. Ideally, you want an advisor who is focused on providing objective advice rather than simply selling financial products. Fee-based advisors, who charge directly for their services, are often the best choice.

Furthermore, a structured process is essential for improving financial wellness. This involves steps such as getting acquainted, understanding your financial fundamentals, and creating a plan to achieve your long-term goals. A good financial advisor will guide you through each of these steps, ensuring nothing is overlooked.

Remember, wealth isn't a requirement to benefit from the advice of a financial advisor. Seek referrals from trusted sources and consider working with a fee-only advisor who is a fiduciary, placing your interests ahead of their own. By finding a balanced financial advisor, you can receive tailored advice that assists you in meeting your financial goals with confidence.

As the cryptocurrency industry evolves, critical economic indicators play a significant role in shaping its direction. This week, the focus turns to the release of the Consumer Price Index (CPI) and Producer Price Index (PPI), both of which have implications for the value of cryptocurrencies.

The CPI measures the average change over time in prices paid by urban consumers for a market basket of consumer goods and services. It is a key indicator of inflation, which impacts the value of cryptocurrencies. In July, the CPI is expected to show a 0.2% increase, consistent with the previous month.

On the other hand, the PPI measures the average change over time in prices received by domestic producers for their output. It provides insight into the direction of inflation and can influence the value of cryptocurrencies. The PPI is set to be released in July, with expectations of a 0.2% increase.

In addition to the CPI and PPI, other important data releases this week include jobless claims and the monthly federal budget. Jobless claims for the week ending August 5th are expected to be around 230,000, slightly lower than the previous week. The monthly federal budget for July is anticipated to show a deficit of $117.5 billion.

Overall, these data releases will provide valuable insights into the state of the economy and its potential impact on the cryptocurrency industry. Investors and enthusiasts will be closely monitoring the numbers, as they seek to navigate the ever-changing landscape of digital assets.