The financial coaching industry is booming, and there is mainstream enthusiasm for financial education like never before.
It used to be that only “money nerds” wanted to talk about personal finance. Today, everyone wants to talk about money and learn how to create wealth. In a society where money education in school is still largely missing, you may be wondering, “Should I hire a financial coach? Or, how could a financial coach help me?”
Here are sixteen reasons to hire a financial coach.
- You’re earning money but you don’t know what to do with it
- You need someone to help you uncover limiting beliefs around money
- You need a personalized plan based on your situation, not a cookie-cutter solution
- You feel overwhelmed by money
- You don’t have someone to talk to about money
- You are afraid of money
- You want to buy a house
- You want to work with someone who has created wealth themselves
- You want to stop worrying about your future
- You want to be prepared for taxes
- You want to create another income stream
- You want to communicate better with your partner about money
- You need a spending plan you can stick to
- You want to invest but don’t know where to start
- You need accountability
- You want to stop working one day and still have money coming in
There are many paths to wealth, and three reasons people fail when it comes to their personal finances.
3 Reasons People Fail When it Comes to Money
They don’t have a plan, strategy, or coach.
A coach is someone who will help you execute a wealth strategy based on your personal financial situation right now. Do you want to eliminate debt? Build savings? Grow your money? Get on the same page with your partner financially?
Is it hard to talk about money?
If you aren’t where you want to be financially, you’re not alone. Talking about money is taboo in American culture, and that makes it difficult to find an objective, honest, real-world environment to talk about what is really on your mind when it comes to money.
Personal Finance Has Many Components
Personal finance has many components including: marriage, taxes, business finances, savings, managing debt, real estate, getting loans, college planning, health insurance, investing, children, employee benefits, privacy, attorneys, consumer protection, divorce, insurance, retirement, and banking. Each contributes to your personal wealth plan.
What Questions Do You Have about Money?
What are people actually earning who do my job? Is my spending in line with the cost of living in my area? Do I need this kind or that kind of insurance? Should I have an attorney on retainer? Am I saving enough? Should I get more education?
Financial questions are endless and that’s why an experienced coach who can provide a safe, open, and non-judgmental space to talk about money can help you break through barriers that may be holding you back financially.
A Good Financial Coach Will Meet You Where You Are Financially
The most significant thing a financial coach does, and perhaps the greatest value they offer, is to analyze each of these components for you, and see them as a whole, then create a strategy that works for you based on where you are today.
Wealth is for everyone, including you. No matter where you are on your journey to wealth, know that you can be debt free and have money in the bank.
When I started out I had massive credit card debt. Today I am financially free. You can be too.
If you are ready to take your finances to the next level and want to know if hiring a financial coach is right for you, complete a coaching application.
Do you have questions? Learn how you can get started with a free enrollment conversation.