Frequently Asked Questions

Financial coaching provides clients with the basics of money management. Clients may have a bad relationship with money or have hurdles preventing them from handling their money well. The goal of financial coaching is to assist clients to develop healthy money habits that will last. Financial coaching provides education to clients on the basics of personal finance and produces a tailored financial plan for them based on their money values and situations. Financial coaching also empowers clients to take responsibility for their decisions and provides accountability and encouragement as clients work to implement the lessons they learn.

Anybody who could benefit from:

  • having an accountability partner. When you commit to a goal a financial coach can help you be accountable to what you say you’re going to do. Often this is the hardest part. It can be so tough to tell yourself no!
  • shared practical experience. Financial coaches are very successful in their area(s) of expertise, therefore, they can offer practical advice based on their own experiences.  
  • improving their financial long term plans, but doesn’t know where to start. Coaching in this area can help to improve your finances for the long term and allow you to meet your savings goals.
  • having a tailored budget, especially good for someone with a variable income. A financial coach will get to know you and your circumstances so they can tailor their advice to you personally. Variable incomes can be difficult to navigate, but it IS possible to plan ahead for your money even without a set amount coming in at regular intervals.
  • having extra  encouragement and support. A coach is there to support you on your journey and cheer you on every step of the way. They want you to achieve!
  • face to face interaction – a coach is a real person! You are speaking to someone who is real and not just reading directions off the internet with an often overly complex budgeting plan.
  • prioritizing your goals. Your coach can help you prioritize your goals so you know what you need to accomplish and when. This is especially useful when starting out on your journey.

Financial coaching sessions are available virtually nationwide. I use Zoom, a virtual meeting program, for my sessions so that we can talk face to face and also share screens. For most coaching access to a personal computer is required, and the willingness to use Zoom and Google Sheets.

The quick answer to this question would be that I will help you save much more money (sometimes in the first month!) than financial coaching will cost you. If you are in debt, struggling to pay your bills, and don’t know where to turn, I would love to help you make a plan and have more peace of mind. 

If I find your income truly does not support my fees, I will provide you with plenty of free resources to get you started on your own. 

A financial coach helps with saving money and a financial advisor helps with investing and growing money. A financial coach works with clients who need general financial help and may have little to no savings. A financial advisor works with clients who need help managing and investing their savings. An advisor provides options for developing an investment portfolio to build wealth for their clients to meet future financial goals. Advisors often require a minimum asset level to begin service.

Financial coaches are not licensed to provide financial advice like advisors are, and therefore cannot provide specific product recommendations. Coaches can provide basic advice on the concept of investing, but they cannot recommend how to allocate your funds. They may suggest saving money in a high-interest savings account, but they can’t recommend a particular account.

In addition coaching differs from advising in that coaching tends to be a limited time arrangement, with the goal of helping the client achieve an understanding of their finances and learn to manage their own finances. Advising, on their other hand, is an ongoing relationship in which the advisor meets with their client periodically during the  year and continually manages their financial portfolio for them.