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What is The Benefit Of Hiring A Financial Coach?

Why do people hire a Financial Coach?  What is the benefit of hiring a Financial Coach?  The number one reason people choose to hire a financial coach is to make a difference in their financial life, and focus on  building wealth for your future. 

Do you want to increase your knowledge about your finances, and increase your financial success?  For most, the answer is yes.  Despite this, most of us have had little or no training in this area. A knack for money management is a learned skill that can be taught, and a Financial Coach can help you go to the next level.

When we want to lose weight, we hire a personal trainer or weight loss coach.  We want to improve our golf game, so we take golf lessons.  When we want to improve our finances – most people don’t know who to turn to for help.

Related: Benefit of Hiring a Financial Coach

Financial Illiteracy Cost Americans $1,389 in 2021

Source: National Financial Educators Council estimates 2021


  • Improve your financial habits by focusing your time, energy, and money on the things that matter most to you.
  • The key benefit of hiring a Financial Coach? They can help hold you accountable.
  • The hiring of a Financial Coach is an investment in yourself, today and your future self.
  • A Financial Coach can help you in developing a strategy to achieve your financial goals.
  • When you work with a money coach, you know you will need to be accountable to someone.

A Financial Coach is someone who has a teacher’s heart, a desire to help others, and a talent for numbers. The benefit of hiring a Financial Coach is to have someone with knowledge, and to motivate you.  A Financial Coach cannot do the work for you though.  By creating a financial plan today, you can achieve your long-term financial goals.

For example, if you’re having problems keeping to a budget. I can assist you in establishing one. I can show you how to stay on track. I have the ability to inspire you. But, in the end, it is up to you to stay the course. But how can you expect to continue with anything if you aren’t taught how to do it?

“Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.

– Maimonides

Related: How To Create a Spending Plan

The Stress of Managing Money

worried about finances

According to Marriage.com, money is the second most common reason for divorce (with number one being infidelity). What would your relationship’s dynamic be like if there were no money squabbles?

The field of financial coaching has exploded in popularity in recent years. Hiring a coach has several advantages, particularly if you want to improve your personal finances. Let’s take a look at some of the most important benefit of hiring a Financial Coach and why they are so valuable.

Benefit of Hiring a Financial Coach

  1. Your coach will assist you in setting and achieving your financial objectives. Many individuals find this process challenging, but it’s a lot easier when you have someone by your side to hold you accountable.  More importantly, a great financial coach will know the right questions to ask, to get you thinking.
  2. A trained financial coach will offer direction and teach you how to make financial decisions about retirement, investments, insurance, mortgages, and student loans
  3. Another advantage is getting objective advice from an unbiased person who isn’t vested emotionally in what you’re doing.
  4. A financial coach can assist you in creating a more successful budget
  5. A money coach can teach you how to make better financial decisions.
  6. A financial coach imposes accountability: Having someone on your side who is involved in your success will keep you motivated, accountable, and moving ahead toward your objective.
benefit of hiring a financial coach

Occasionally reading a blog like this, or reading a book is a good way to increase your financial literacy.  But the average person needs more than that.  Unless you have someone with experience guiding you and holding you accountable – it is very difficult to change your money habits.  What is needed, is to:

  • Create a practical financial plan to pay off debt, save money, and establish an emergency fund.
  • Improve your financial habits by focusing your time, energy, and money on the things that matter most to you.
  • Be held  responsible to ensure that the financial action plan is followed and that your financial goals are met.

Related: What is a Financial Coach, and What is The Benefit of Hiring a Financial Coach

A personal trainer for your money” is an excellent comparison for financial coaches. I’m not going to the gym for you. Instead, I’ll give you a few pointers on how to raise the weights, and keep you motivated.

financial weight lifting

But it’s more than that, since getting there and staying motivated is often half the battle. As your accountability partner, I’m saying “Let’s Go!” Next to you, I am the one who most wants you to succeed. I love it when my coaching clients exceed their goals and 

How Can a Financial Coach Can Help You

  • Assist you in forming a habit that will help you achieve your financial objectives. A financial coach can help you develop good financial habits in all areas of your life, from day-to-day money management to long-term planning.
  • Increase your awareness of your purchasing behaviors. Many individuals don’t have a spending plan, and if they do, sticking to it for more than a week might be difficult. Financial coaches can assist in determining how and where money is coming and going.
  • Understand certain people’s emotions or actions. It’s simple to tell people what to do, but it’s more difficult to persuade them to do it. A financial coach’s goal is to help you in identifying your money-related behavioral tendencies and attitudes.
  • Provide assistance and follow-up. In times of weakness and strength, a financial coach will continue to engage with you, giving clarity or emotional support.

Benefit of Hiring a Financial Coach: They Can Help Hold You Accountable.

It’s more than simply a matter of dollars and cents when it comes to money management.In order to succeed, you must be completely honest with yourself. Money is a highly sensitive and emotional topic for many. That’s when a coach comes in handy.

Having that third party person to talk to about your money is incredibly significant.  It’s easy to make excuses when it comes to money management, telling ourselves that we’ll save or pay off our debt later.  When you work with a money coach, you know you will need to be accountable to someone.  That alone can help you make better financial decisions.

Success and Failure Are Still Your Responsibility.

Like losing weight, getting better at money management needs dedication and effort on your part.  No matter the direction and benefit a hiring financial coach provides, it is still up to you to carry it out. Like any sport, the greatest coach cannot win the game without the players doing their part.

However, if you ARE ready to commit, coaching might be extremely helpful.   The hiring of a Financial Coach is an investment in yourself, today and your future self.  

Helping Clients in Changing Their Financial Habits.

A Financial Coach can help you in developing a strategy to achieve your financial goals. We work with you on both long- and short-term life goals, teaching you skills that you may use in any situation. A financial coach is ideal for anyone who wants someone they can trust to hold their hand and guide them.

A financial coach can help you in breaking down your objectives into smaller, more manageable steps, making them more attainable. I am there to support you in both good and bad times, so that you may build a life that is not just sustainable but also seems like anything is possible.

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Ex. Source: What is a Financial Coach (www.michaelryanmoney.com)

A financial coach will teach you skills like monthly budgeting and emergency fund creation. We also educate you on the difference between a 401k and a Roth IRA, which will help you make the most of your money. 

A financial coach can help you with anything financial, from tax planning to how to setup investments. A financial coach can help you understand different mortgage interest rates and how income taxes operate.

Financial coach Financial Planning

A Coach Can Help You Learn The Fundamentals Faster.

You’re not alone if you’re looking for guidance with the fundamentals of personal finance. And that’s when a money coach comes in handy.  Many people in the United States are unaware of the fundamentals of personal finance. According to a recent poll conducted by The Penny Hoarder, a third of American people can’t recall ever addressing fundamental personal financial topics with their parents, such as credit reports, debt, savings accounts, and budgeting. When you look at it this way, it’s no surprise that coaches who have mastered the art of making personal financial issues understandable are in high demand.


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Note: The content provided in this article is for informational purposes only and should not be considered as financial or legal advice. Consult with a professional advisor or accountant for personalized guidance.

Michael Ryan
Michael Ryanhttps://michaelryanmoney.com/
A former stockbroker, financial planner, and owner of my own financial planning practice and then a property & casualty agency. I have since retired and decided I want to help individuals and business owners by offering personal financial coaching. And now, I have started my blog - www.michaelryanmoney.com - to bring financial literacy to everyone. In a short time I have already been quoted and featured in US News & World Report, Business Insider, Yahoo Finance, and more (https://michaelryanmoney.com/home/press/) As a financial planner, I helped people from all walks of life. If you have questions about money, I will help you find the answers at www.MichaelRyanMoney.com
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