What is Financial Coaching?
Financial Coaching is educating, guiding and empowering a client on personal finance. The role of the coach is to hold a client accountable to their written goals and make sure they follow through. Does this mean that every goal may be met? No of course not, with the unknown outcomes of the future it will be hard to determine that. However, there’s no reason to set up small goals to reach bigger ones. Most people don’t reach their goals because they either make it too large/unreasonable, or do not make it detailed enough in their current financial situation.
What the coach will do is work with a client to manage attainable goals that lead to better financial health in the long run. This way, the client does not face too much anxiety in trying to hit a large goal in a short amount of time, if they do not have the funds to do so. The main goal is to change the behavior (how you viewed money before and see the change in how you view it now) of your relationship with money. Money is important in life as it can cause happiness and pain, so let it be your friend instead of your enemy.