What is a financial coaching?
Financial coaching helps address the financial challenges of individuals and families in analyzing and provide specific recommendations to accomplish financial goals. Financial coaches do three things:
- Listen and understand.
- Provide information.
- Inject hope
A financial coaching relationship is informal, direct, nonjudgmental, and strictly confidential. Whether conducted in-person or via phone, a financial coach is someone who reviews specific goals, suggests modifications as necessary, and assists clients with aligning their priorities with a financial plan to achieve your major life goals.
Who am I?
My financial coaching story began almost 15 years ago when I was in a shaky financial position as a result of divorce. I was down and out. I was living paycheck to paycheck. I didn’t have a plan. I was always sick to my stomach with worry.
I watched this guy Dave Ramsey on Fox Business channel. I was always hearing about these baby steps. So I Googled Dave and ended up buying The Total Money Makeover. I read it cover to cover many times. I felt kinda stupid. I mean, I had a degree in finance, and knew this stuff. Dave’s book just made me feel it.
Then I found out he had the 3rd largest listened-to radio program behind Rush Limbaugh and Sean Hannity. So I listened live all summer long in 2009. After a while I felt like I knew exactly what Dave was going to tell the callers.
Then I learned that Dave’s company, Ramsey Solutions, trained people just like me to help others by becoming financial coaches. I signed up and became a coach. I learned a ton of stuff that Dave seldom talked about on his radio program.
Then I learned many others were on the same path. I’m really just a few steps farther ahead (Baby Step 6). And this exactly what Dave said helps others. Coaches are usually a few steps ahead on the path of the people they are helping.
Imagine you’re looking to invest in your first rental property. Do you want to work with a billionaire investor who already owns hundreds of apartment complexes and golf courses to coach you? Sounds intimidating to me. Or would you rather learn from someone who started in the last few years and has three or four single-family rentals? Someone who understands your journey? Someone who still knows the obstacles you will face? Someone close to you on the same journey? Someone who can still reach back and give you a helping hand?
Thousand-aires need hundred-thousand-aire mentors. Hundred-thousand-aires need millionaire mentors. Millionaires seek out deca-millionaires, and so on. While we are not yet everyday millionaires, we are blessed to have become multi-100,000-aires. So we talk mostly with thousand-aires, other hundred-thousand-aires, and a few millionaires.
Financial coaching is useful if you are:
- just getting started with a budget,
- struggling with credit cards and other debts,
- starting with investments, or
- facing a crisis (e.g., collections, foreclosure, bankruptcy)
Could you benefit from coaching?
Leave me a message, or send me a text. Within 48 hours, I’ll call you to set up your free exploratory conversation. Here’s my special Google Voice number:
570-731-0425
Or click here to leave your name and number to request a phone call.