How to choose the right money coach
What is a financial coach?
In order to discuss the 7 Reasons Women Need A Financial Coach, we first have to understand what a financial coach is. It may seem counterintuitive to hire someone to help you with your money if you are not managing your money correctly. However, that is exactly why you may need a financial coach. A financial coach is there to provide accountability and create a personalized budget based on your lifestyle. Coaches create a financial path for you to achieve your money goals and help you understand the mental blocks that cause you to repeatedly make the same money mistakes.
Financial coaches are like personal fitness trainers. When you are training for a marathon, trying to lose weight, or simply staying active you will hire a personal trainer. The trainer gives you a personalized fitness routine that works for your body type and goals. Trainers also provide dietary suggestions and the motivation that gets you the results you are looking for.
A money coach does the same thing, except their focus is on your financial fitness. A financial coach will help you craft a budget that you can live with, overcome the emotional blocks that have kept you in the same financial cycle. Coaches also provide accountably and encouragement that you need to stick to your finacial plan.
How to you know if you are ready to hire a coach
Now that we know what a coach is and how they can help you here are the top 7 Reasons Women Need A Financial Coach.
- You aren’t sure what to do with the money you are making
- You need someone to help you unearth your money beliefs
- Money overwhelms you
- You’re ready to plan for your future
- You need a budget you can stick to
- Accountability empowers you to achieve your goals
- You need a personalized money plan
How to choose the right financial coach for women
Finding the best fit for a financial coach is a lot like finding a good therapist. You need to look for someone who speaks your language. Many financial coaches in the personal finance world use shame, guilt, and deprivation to motivate people to change their behavior. While this can work for the short term, it’s not a long-term fix because it feeds on people’s insecurities.
As a financial coach, I have found that women have so much shame and guilt associated with their finances. I have found that coaching from a place of understanding and encouragement yields the best long-term results for my clients. This mode of coaching gives the client more control over her outcomes and empowers her to change her financial life for the better.
A few questions women should ask themselves when choosing a financial coach are:
- Does this person’s approach to money coaching make me feel comfortable?
- Will the advice that they offer come from a place of condemnation or encouragement.
- Can this person understand the unique financial blocks that women face?
- Does this person make me feel empowered to achieve my money goals?
Once you have answered these questions for yourself you are ready to take control of your finances.
A good financial coach will meet you where you are
The most powerful thing that a financial coach provides is a safe space. The importance of having a safe space for you to talk about your money can not be overlooked. You wouldn’t hire a personal trainer after you lost 20 pounds, similarly, your finances don’t have to be completely organized to hire a financial coach.
With this in mind, The Financial Freedom Program was born. The program provides women with the tools they need to improve their financial outcomes. I’ve seen this program work for many women because they are able to build a plan that fits their lives free from guilt and shame.
If you are ready to take your finances to the next level and want to know if hiring a financial coach is right for you, contact me for additional information.
Still have questions? Learn how you can get started with a free enrollment conversation.