A financial coach is NOT a financial adviser… So what do they do?
When it comes to shaping up your financial behavior, a financial coach can be the answer. Similar to a personal trainer for your finances, a financial coach can provide you with tips and tricks to improve your relationship with money and achieve your financial goals. Unlike financial advisers who focus on tactical aspects like saving, taxes, and retirement, a financial coach helps you delve deeper into your money mindset and behaviors to set you up for financial success.
Content creator JC Rodriguez, a certified financial coach through Ramsey Solutions, emphasizes that financial coaching is centered around people and their behaviors rather than just numbers. It’s about addressing habits, backgrounds, and personal circumstances to help individuals build a life of financial peace.
When should you begin working with a financial coach?
Knowing when to seek help from a financial coach is crucial. Financial coach Jenny Whichello often works with women in their late 30s to mid-40s who are at a point of change in their lives. On the other hand, Rodriguez coaches individuals going through significant life milestones and those striving to improve their financial situation. Whether you feel stuck, want to level up, or are experiencing a financial awakening, seeking assistance from a financial coach can be beneficial.
How to find the right financial coach
Unlike financial advisers, financial coaching doesn’t require a standardized designation. Rodriguez suggests having an initial meeting to gauge if the coach is the right fit for you. It’s essential to determine if the coach genuinely cares about your financial well-being and whether the relationship feels relational rather than transactional. Additionally, assessing the coach’s personal financial situation and consistency in their message across various platforms can help you find the right match.
The financial coaching process
During financial coaching sessions, clients learn financial principles that are applicable to their lives and are encouraged to take action steps to improve their financial health. Whichello’s coaching process spans five to six months, involving biweekly meetings and continuous support. She helps clients uncover the core beliefs behind their money issues, envision their financial future, and create a roadmap to achieve their goals. By providing clarity and setting a compelling vision, financial coaches help clients make intentional financial decisions that align with their long-term objectives.
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