What is a Personal Finance Coach?

B-E Intentional! Go you!

A personal finance coach partners with you to help you set and achieve financial goals.  Coaches do not manage your money for you, advise you on the suitability of specific investments, or try to sell you certain financial products.  Instead, a coach helps you identify your financial goals, creates a plan to achieve your goals, and provides accountability and troubleshooting as you encounter obstacles.  Coaching helps you implement lasting behavior changes and increases your chances of sticking to your financial plan.

Financial Literacy Education

As a personal finance coach, one of my main goals is to educate you on financial topics such as budgeting, saving, debt management, credit, and long-term planning such as children’s college education and retirement.  Many people don’t understand the basics of personal finance and thus make sub-par choices.  With the proper knowledge, you will be on your way to making smart money choices.

Goal Setting

What are your financial goals?  Are you trying to save for a vacation? Do you want to retire early? Are you saving to purchase a home?  Are you trying to get out of debt?  I will help you identify your goals and your priorities.  I can also help you evaluate competing goals and develop an action plan.

Understand Your Relationship with Money

Our finances and spending habits are influenced by our emotions and other psychological factors.  I will help you understand your relationship with money and what emotional and psychological factors may be impacting your financial life.  Most importantly, I will help you implement behavioral techniques that will allow you to be successful.

Consulting Coaching Image

Personal Financial Plan

I will help you see the big picture of your finances.  Many of us live paycheck to paycheck and in the moment and don’t consider the long-term impact of our choices on our future financial life.  Or, we put some money away for retirement and put some in savings and mindlessly spend the rest, without any specific goals or checks to make sure we are on track for the financial future we want.

Your financial plan will include a plan to payoff debt, establish (or grow) and emergency fund, save for retirement, save for large purchases (vacation, home down payment, home remodeling, furniture, electronics, etc.), and build your overall savings.  In developing a financial plan, you should identify your risk tolerance and start thinking about investing so you can take advantage of the magic that is compound interest.

Be Intentional

We all have a finite quantity of money coming in and unlimited choice in using our money.  I will help you be intentional in how you use your money so that you maximize your money and your life!

Read more about me and my philosophy here and be sure to check out my blog!