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13 Ways to Know You Will Benefit From a Financial Coach

How to Know You Will Benefit From a Financial Coach

The Top 5 Ways that you Will Benefit From a Financial Coach

  1. Still stressed about finances even though you’ve tried the books, blogs, and spreadsheets, you will benefit from financial coaching.
  1. You are fed up with struggling and failing to make progress on your own.
  1. You know It is time to let go of outdated money idea’s and understand what actually works.
  1. You’re motivated to gain confidence in your money management skills
  1. Are hesitant to try again since you’re not sure how things will turn out

8 More Ways That You Will Benefit From a Financial Coach

  1. You want to buy a new house or car, but you don’t know if you are ready yet.
  1. You need help developing and sticking to a spending plan.
  1. You want to boost and improve your credit score.
  1. You are looking for ways to save money.
  1. You feel unsure where your money is being spent.
  1. You’d like to get out of debt.
  1. You’re concerned about your financial situation.
  2. You feel like you are doing the right things, but would like a second opinion.

Related: How You Will Benefit From a Financial Coach

Worried about money
How You Will Benefit From a Financial Coach

How You Will Benefit From a Financial Coach

Hiring Financial Coach 7 Things to Know You Will Benefit From A Financial Coach
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Ex. Source: Hiring a Financial Coach (www.michaelryanmoney.com)

A Financial Coach will teach you the fundamentals of money management. Budgeting, debt management, debt collection, and retirement objectives are all examples of this.  I am a personal finance coach who teaches the fundamentals.  I have many years previously as a Financial Planner working with high net worth individuals, and now as a Financial Coach I am looking to help as many people as I can improve their financial literacy.

Money and stress are inextricably linked. There is so much unnecessary stress associated with the way most people handle money when there shouldn’t be.

Instead of money dictating your life, it’s time to take control of your finances. By doing so, you will benefit from a Financial Coach and what they can help you with.

Financial coaches help their clients tackle the issues that are most important to them. Listening and asking great questions are the most important aspects of being a coach. This makes the process of self-discovery easier. Rather than informing a client what behaviors they believe need to be addressed, the client recognizes them for themselves.

I see coaching as a collaborative, nonjudgmental partnership that focuses on the future rather than the past. As your financial coach, I will help you develop beyond your comfort zone by guiding and challenging you. Once you’ve started your journey, I’ll accompany you to point out potential risks, assist you in developing good financial habits, discipline, and to strengthen your willpower.  But it is you who will be the one who has to perform the hard work of change.

I will hold you accountable, get you back on track when necessary, and continue to help you refine your financial goals so that you are getting what you want. It all starts by setting and sticking to a monthly spending plan.  I’ll help and demonstrate how to lay that firm foundation.

Budgets are important for one simple reason: they work. They are the basic tool that allows you to take charge of your finances and stay in control of your financial well-being.

When I used to manage my financial planning practice, I watched a lot of individuals make a lot of financial blunders. I can give financial counseling in the form of blog posts to reach out to more individuals and help them improve their financial literacy.  Now, financial coaching allows me to support more people who have  financial concerns.  It allows me to examine your current situation with a critical eye.

Consumer Financial Protection Bureau Study on Financial Well Being in America

Related: How You Will Benefit From a Financial Coach

What is The Process?

Each coach has a different process. I feel strongly that you need to match up well with your money coach, so that you will you will benefit from a Financial Coach the most. I typically work together with clients for 3-12 month sessions.  That may be sufficient, or more sessions may be beneficial. We may also review annual check ups to assess how things are progressing. During the initial planning session, we should be able to obtain a sense of this.

You’ve tried to improve your financial situation before, but the problem is that nothing seems to be working.  And things are just not getting better – may be even getting worse! It’s time to call in reinforcements – enter a financial coach.

Related: What is the Financial Coaching Process

what is financial coach 3 circles
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Ex. Source: Hiring a Financial Coach (www.michaelryanmoney.com)

What to Look For in a Financial Coach

The first thing you should do is look for a great financial coach. Ask them questions to be sure they’re the correct financial coach for you.  Once you’ve identified the right match – schedule a meeting to discuss your objectives and beliefs. The Financial Coach should then create a financial roadmap for you to follow, which will include budgeting, investing, tax planning, credit score management, and everything else. They’ll also be there for you throughout the process as someone who is involved in your success! Do these things an you will benefit from a Financial Coach as well.

Finally, they are always ready to assist you when life throws you the inevitable curveball!

Do you still have questions, or looking for more information about Financial Coaching? Comment or reach out to me below.

Related: What Makes The Best Financial Coach?

Related: Benefits of a Financial Coach


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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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