Your Questions About Financial Coaching Answered

Your Questions about Financial Coaching Answered

Your Questions About Financial Coaching Answered

My clients have lots of questions about financial coaching before they hire me. You might too, if you’re thinking you need help to get your finances in order. And that’s a smart idea! Before you hire me, or any other financial coach, you should make sure you get ALL of your questions answered. Here’s the most common questions that I get asked.

Your Questions about Financial Coaching Answered

How can I afford a financial coach if I’m having money trouble?

That’s definitely a fair question! I find that many of the people I talk to about coaching are making a decent income. In fact, most of my clients have household incomes in the six-figure range. The problem is typically a combination of mindless spending, excess debt, lack of a plan, and disagreements with their significant other over financial priorities.

I’m not in financial trouble. In fact, I’m making more money than ever, but I’m not sure if I’m doing the right things financially. Can coaching help me?

Yes! I love working with clients in this situation. Maybe they received an inheritance, a settlement, or a substantial raise at work. A big bump in income or assets is a wonderful thing, but it can push you out of your comfort zone.  When this happens, there’s always a risk of self-sabotage.

That’s why we hear of lottery winners, movie stars, and NFL players filing bankruptcy. When we advance to the next level of financial success, our money mindset and financial knowledge must advance with it, if we want to keep it. A good financial coach will help you with both.

How long does the coaching process last?

 My clients work with me over six months. Why? Because lasting, positive change takes time. I’m not just dispensing financial strategy to my clients; I’m also assisting them in correcting faulty money mindsets and cementing healthy habits. I find it generally takes six months for those changes to set, and for my clients to feel confident in their ability to execute their Prosperity Plan going forward. My goal is positive, permanent change for my clients.

How much does it cost?

The investment for personal financial coaching is currently $2,997, or 6 monthly payments of $547. (If you’re curious about small business coaching, you can find the details for that here.) The vast majority of my clients begin seeing tangible financial returns on their coaching investment by month two or three. This can come in the form of increased income, reduced spending, increased savings, or a combination of these.

What does the investment include?

I meet with clients twice every month we’re working together. Our main session is 75-minutes long, plus there’s a mid-month check-in for 25 minutes. Of course, this isn’t the only time I’m spending on my clients. I spend considerable time preparing for and following up after every session. I’m researching answers to their questions, pointing them to resources, and referring them to other professionals as needed to help them with any and all of their problems.

I don’t just help my clients with their money, I help them with their lives. Because, let’s be honest, money is intertwined in all aspects of our lives. My clients can also reach me by email, text, or phone if a pressing issue comes up in between sessions.

What are your qualifications?

I received my Certified Financial Counselor designation in 2008. I have 11+ years of financial coaching experience with hundreds of clients. I’m an active member of the Financial Therapy Association. I have a degree in Accounting with minors in Psychology and Business Administration. My past work experience includes 18 years of business accounting, 13 years of human resource management, plus 4 years in banking and collections.

I’ve written two books, Money is Emotional: Prevent Your Heart from Hijacking Your Wallet and Manage Money Like a Boss: A Financial Guide for Creative Entrepreneurs. Most importantly, I once hit financial rock bottom myself, four years after I graduated with my accounting degree. I’ve personally experienced the shame and embarrassment of financial distress, and come out the other side.

What makes you different from other money coaches and financial counselors?

What makes my process unique is that we work on BOTH your financial strategies and your money mindset. Some people call this approach “Behavioral Finance.” I’ve learned that money is emotional, and many non-financial factors affect our behavior around money. I show my clients how to understand and harness the power of their emotions to achieve their financial goals. This drastically reduces the likelihood that you’ll fall back into destructive money behaviors.

Am I a good candidate for financial coaching?

If you are ready and willing to change your behavior and mindset around money, then the answer is likely “yes.” If you are NOT yet ready to take responsibility and action to change your finances, then the answer is “no.” As a coach, my role is to point the way and guide you on your journey. But YOU are the one who has to walk the path, because I can’t do it for you.

How do I know if this will work for me?

Click HERE to schedule a 15-minute call with me. By asking you a few targeted questions about your situation, I’ll be able to determine if my financial coaching program can improve your particular money issues. If coaching isn’t for you, I will be totally honest with you about that! And don’t worry, I have additional resources I’ll point you to, so can recover a positive and peaceful relationship with your money.

Do you have any additional questions about financial coaching that I didn’t answer? Drop them here in the comments!