What is Financial Life Coaching and How Would it Help Me?

You may be struggling with your finances, or you may be doing OK but not great. You may be doing well but realize there are some areas that could use help. Whatever the case may be, we could all use a little help from someone knowledgeable who can get us on the right track and hold us accountable to stay there. A Financial Life Coach is that someone. The person who digs deep to find out how you think about and feel about money, and how it affects your spending and saving habits. It’s the person who personalizes each individual aspect of your finances and helps you make adjustments to your budget, rather than simply throwing spreadsheets and charts at you and saying “Good luck.”

Believe it or not, every single area of your life affects your finances. Maybe you feel stressed after a full day of work and decide to go out to eat more often than not to relax and unwind. You may find that this causes a hole in your checking account or piles on the credit card balance and also generates health issues and self-esteem concerns as your body reflects the effects of all those meals. A Coach is there to help you figure out these issues and work with you to come up with realistic solutions. Maybe you eat out once or twice a week now instead and take an evening walk around the neighborhood with your spouse to unwind. You will find that these solutions not only help your finances (think of the $30-$40 you would save on each meal – even if you cut out one night out a week, for a full year  you could save $1560-$2080!!), but it can have positive effects on the rest of your life. Your nightly strolls help you feel more self-confident and keep you healthier.

Every great athlete has a coach. Yes, even Michael Jordan had one throughout all the stages of his career. Coaches can see things from a different perspective and pick up on things that we might not see. Like telling Tiger Woods that his swing is pulling through a little to one side and causing the ball to curve in the wrong direction, a Financial Life Coach can help you realize where something might be off in an area of your life, or in the way you perceive and react to money, that is causing a complication in your financial life. Your Coach can encourage you and answer questions along the way. Life is tough as it is, and you definitely don’t have to go it alone. Most of us could use a little (or a lot) of help and would benefit greatly from having a Financial Life Coach to teach, guide, train, encourage, support, and care.

Tags: coach, finances, financial life coach