What Is Financial Coaching?

As a Financial Coach I work with individuals and families to examine their current financial situation, discover the obstacles/challenges, and recommend a course of action to reach their financial goals.  In short, the value that a financial coach can provide is to help you get a plan for your finances and help you establish habits and behaviors that will benefit you both short term and long term. 

Whether a person is trying to stop living paycheck to paycheck, working to get out of debt, or determining the best way to build wealth, a Financial Coach can help. Just like a personal trainer meets one-on-one with their clients to understand their desired end state, recommend a plan of action to get there, and works alongside them to reach the goal, a Financial Coach partners with clients to bring awareness and introduce sound financial management principles to help them reach their goals.

Few things in life happen without a plan, and this is certainly true with finances. When people let their finances control them, it brings defeat and despair, but when you have a plan for your finances and follow that plan, you experience less stress, more freedom, and it allows you and your family to flourish. I have had the privilege on many occasions of showing clients a new way of doing things with their money. These new ways of doing things could result in a family paying off debts faster than they believed possible and then move into building wealth at an incredible pace. 

A good Financial Coach should not push you to purchase products. The main value a coach will bring is the right process, questions and recommendations to help you come to the most beneficial path toward meeting your financial goals.  It’s much easier for a Financial Coach to be patient and understanding of your needs when they aren’t interested in making a commission or selling you a product or service that may not be a fit. What you want is an unbiased coach that will tailor the plan to your needs, not their paycheck.

A good Financial Coach will work with you over time and will set the expectation that just as your finances didn’t get into disorder overnight, they will likely take some time to get to a place of victory. Financial Coaching is not about quick-fix gimmicks or the latest financial fad, but it is about building sound principles and habits for your to manage your money. This is typically achieved through several coaching sessions, but one-time sessions can be some help as well. That said, I also recommend that you take advantage of single sessions for financial checkups or follow-up from our previous coaching.