What is financial coaching?
Financial coaching focuses on day-to-day money management such as spending, saving, debt reduction, and goal-setting. As your Financial Coach, I will guide and challenge you to make more intentional financial decisions as well as hold you accountable to achieve results faster. Financial coaching will take you on a journey of self-discovery to help you realize your full potential and reach your personal goals.
What’s the difference between financial coaching and financial advising/planning?
Financial Advisors and Planners are licensed to sell investment and insurance products (stocks, bonds, mutual funds, annuities, etc.). They typically focus on longer-term financial and investment strategies, retirement, estate planning, and tax planning. Dollars+Change does not sell investment or insurance products or receive referral fees from these types of financial service providers. Coaching services are fee-only and solely focused on serving your best interests. The goal is to help you build a solid financial foundation so that you can work with a Financial Planner or Advisor to achieve your longer-term financial goals.
Why would I need a Financial Coach? Can’t I just read a book?
I like to think of having a Financial Coach like having a fitness trainer. Yes, you can look up healthy recipes and workouts online and go to the gym on your own. But, you’re likely to get better and faster results with a trainer. Financial coaching is similar. There are a ton of personal finance books, blogs, podcasts, magazines, etc. So much so that the amount of information can be overwhelming and often times conflicting. And yep, there are lots of apps, websites, and other tools available to help you manage your money. But, none of these will provide a plan tailored to your unique situation and the personal accountability to help you stay on track to reach your goals. As your Financial Coach, I can offer you this and more!
Is financial coaching right for me?
I understand that committing to financial coaching is a big decision. Here are some things to consider to help you decide if financial coaching may be a good option for you.
You make good money, but you’re not sure where it goes.
You do well in other areas of your life but struggle to control your money.
You feel overwhelmed by your finances and don’t know where to start.
Despite trying really hard, you struggle to get your finances together and can’t seem to get ahead.
You have a budget but have trouble sticking to it consistently.
You feel like debt is a roadblock to accomplishing your goals and dreams.
You know you could be doing more with your money, but you need a plan.
You worry because you have little savings, if any, to cover an unexpected expense.
You work really hard and are tired of feeling like there’s not enough to show for it.
You’re tired of living paycheck to paycheck and just getting by.
If any of these sound familiar, it’s time for a change! You are not alone and coaching can help!
How am I supposed to pay for coaching if I’m already struggling?
I initially struggled with this idea as well. However, after digging in, I often find that affordability isn’t the issue. It’s a matter of prioritizing. I invite you to think of financial coaching as an investment. An investment in yourself and an investment in getting to the life you desire. This is about way more than money. Money is just a tool. Being in control of your finances will impact so many areas of your life – your stress level, health, relationships, productivity, attitude, self-esteem, confidence, etc. It truly has a ripple effect. You’ll also take away skills you can use for a lifetime…and pass on to others you care about. We’re not only talking about living the life you want now, but also about leaving a legacy.