When to hire a financial coach

When to Hire a Financial Coach

When to hire a financial coach

You probably know when you need the services of a banker, CPA, or investment advisor. But when should you hire a financial coach? You don’t need a loan, assistance with filing your taxes, or the latest stock tip. You need a different kind of financial guidance that’s harder to define.

When to Hire a Financial Coach

The answer in one word is this: CHANGE. There are two categories of change: one you choose to initiate, and one that happens to you. Periods of change in your life can be stressful, unsettling, and emotional. Having a financial coach guide you through these changes that affect your money, even positive ones, is immensely beneficial.

You Choose the Change

When you initiate change that affects your finances, you are usually coming from a place of personal power, which is great! Clients seek me when they are starting or selling a business, changing jobs, or getting married. Other times you might want to hire a money coach is when you want a change in your finances. Maybe you earn a high income but you don’t have enough in savings or retirement. Or you’re ready to tackle your debt once and for all.

The Change Chooses You

When you are blindsided by change, the experience can be less than pleasant. You experience a cut in income, your spouse informs you they want a divorce, or you suddenly find yourself a widow or widower. These situations tax you mentally and emotionally. A financial coach comes alongside of you to guide you through the financial decision-making process. Certainly, some unexpected changes can be positive, like receiving an unexpected windfall.

Change Shoves You Out of Your Comfort Zone

Even if you choose it, and the change is positive, it still pushes you out of your comfort zone. This can be disorienting and cause you to unknowingly sabotage yourself. When you step up to a higher level of income, or receive an inheritance, you’re at risk of mismanaging it. An overwhelming percentage of lottery winners and retired professional athletes file bankruptcy. Why? Because they weren’t equipped to navigate the new financial territory outside of their comfort zone.

A skilled financial coach will assist you with both money mindset and financial strategies tailored to your particular situation. This is what makes us so different from the bankers, CPA’s, or investment advisors. We focus on showing our clients how to have a positive, healthy relationship with their money. In fact, my official title is “Certified Financial Counselor.” That’s important, because I spend equal time counseling my clients and offering tactical money advice.

So, if you are currently navigating a change in your life that affects your money and it’s pushing you out of your comfort zone, that’s when you want to schedule a call with a financial coach.