Money Coaches: An Investment in Yourself

While we live in the world of investing, we realize that not everyone may be in a position that allows them to make investments on any level. Money coaching is a fairly new industry that is continuing to increase in popularity every year and allowing people financial freedom that they didn’t have previously, which can, in turn, open them up to new opportunities...such as investing.

What Exactly is a Money Coach?

Simply put, a money coach is someone who educates their clients on the basics of personal finance and works with them to create a financial plan that reflects their goals. They help to identify what their objectives are and teach them the procedures to follow to achieve them. A money coach is not a financial advisor; they aren’t going to tell someone how to spend their money, they are going to focus on creating structure, teaching the basics of personal finance, and holding their client accountable. Think about a personal trainer; they are not going to do your workout for you, they give you structure and motivation and the tools you need to reach your goals. 

Benefits of Hiring a Money Coach

Accountability

Pride needs to be left at the door when working with a Money Coach. You can’t be embarrassed by any bad habits that you have; be transparent and open to taking accountability for any decisions or slipups that may happen along the way. 

Structure

It’s likely that a lack of structure is a big part of what leads a person to be in need of a Money Coach. The tools that a coach can provide to instill structure into financial habits going forward are going to be a major key to success.

Prioritizing

It can be overwhelming trying to determine where to start and what specific goals to accomplish first. A coach will help to organize and prioritize what to start with to help the process be much less daunting.

If you’re interested in the world of investment, but want to get yourself in better financial shape, a Money Coach could be a great place to start.