Personal Finance Coach

What is a Personal Finance
Coach?

A coach is a person who guides an individual or couple to set goals, develop skills, provide support, give feedback, promote personal growth, require accountability, and help solve problems on subject matter they’re coaching on.

A Personal Finance Coach helps you better understand your day-to-day finances which include your income, expenses, debts, and savings and investments. A coach’s goal is to help you set up your finances in a way that provides less stress and more clarity with the way you are handling your money. A coach will guide you in making the right decisions with your money, help you manage your debt better and answer questions and educate you on personal finances. The way someone handles their finances is personal, everyone is emotionally different when it comes to what causes them stress and anxiety when it comes to their money, a coach will design a path that works for each person.

There are 4 stages of
personal finance which are –

Financial Insecurity

living paycheck to paycheck with very little savings.

Financial Insecurity

living paycheck to paycheck with very little savings.

Financial Stability

having a financial foundation which include managing debt and a small
savings account for unexpected emergencies.

Financial Stability

having a financial foundation which include managing debt and a small
savings account for unexpected emergencies.

Financial Security

having enough financial resources to live comfortably and have investments
for the future.

Financial Security

having enough financial resources to live comfortably and have investments
for the future.

Financial Freedom

having enough income from your investments and assets to be able to live without relying on employment.

Financial Freedom

having enough income from your investments and assets to be able to live without relying on employment.

Coach vs. Advisor:
What's the Difference?

There is a misunderstanding that a personal finance coach is the same thing as a financial advisor. Although we both guide you with your money, a coach helps with your day-to-day struggles and questions whereas a financial advisor works with you on your future financial goals. Coaches can help you develop a path to financial security, a financial advisor can help you achieve financial freedom.

At times, when you work with a coach, there will be situations that need more specialized advice. In those situations, coaches will refer you to specialists like accountants, lawyers, financial advisors and insurance agents when necessary, because we cannot give you technical advice in these areas.

Bill Gates, founder of Microsoft, stated in a Ted Talk in 2013 that –

“Everyone needs a coach. It doesn’t matter whether you’re a basketball player, a tennis player, a
gymnast, or a bridge player. We all need people who will give us feedback. That’s how we improve.”

I would like to be your coach and guide you in improving upon your financial situation.