Frequently Asked Questions
How is a money coach different from a financial advisor?
Money coach - uses financial coaching to help you to get clarity on your current financial situation and then provides a roadmap (and accountability) to align your spending with your goals.
Financial advisors and financial planners - licensed to help you develop your investment strategy, including investment recommendations.
I am nervous about all the things a financial coach will tell me to stop spending on.
That fear is totally understandable…but that is not what a money coach does! A money coach helps you to understand your current financial position and supports you as you set your spending/saving priorities and plan.
A good coach doesn’t tell you what to do.
A great coach asks “how can we make that [fill in the blank] spending goal” happen for you? They also help get you motivated to make that goal happen!
What will we do in the sessions?
Everyone is different, but we will start by tackling your biggest pain point. We can review spending, map out a debt payoff plan, bring upcoming goals into focus, and more.
Why should I hire a money coach? There so resources I can use to manage my money on my own.
That is a great question. There is lots of valuable advice out there. If you have the time and interest to use those resources, go for it! If, however, managing your money isn’t your favorite thing to do or if you struggled to do it on your own, I can help!
Why would I pay money to have someone help me figure out how to better manage my money? Isn’t that counterintuitive?
In addition to helping, you get clarity on your current financial position and helping you to align your spending with your values and goals, a coach provides accountability, which can be key to achieving your goals.
According to The Guardian, one US study found that “you have a 65% chance of completing a goal if you tell someone else you are committing to doing it. And if you have a specific check-in with a partner, your chance of success increases to 95%”.
I have no idea how to determine my financial situation. Am I still able to work with a money coach?
Yes. I provide you with tools to pull your money data together. I review all the information you provide and ask follow up questions.
If you feel overwhelmed with trying to pull the data together, we can do that work during our one on one sessions.
How often will we meet?
The meeting frequency depends on the program selected. We will meet more regularly at the beginning of the program (every week or two) and taper off to less frequent meetings as you begin to master your money.
I am embarrassed to share my financial situation.
Money is very personal, so lots of people feel this way. A good money coach is there to help you, not to judge you.
Are meetings virtual or in person?
The meetings are virtual. However, if you are local to me, I’d be happy to meet in person!