Here is everything you need to know about how a financial coach can support you:
What is a financial coach?
Everyone knows more or less how to build wealth: Just spend less than you earn and wisely save the difference. The problem isn’t knowing how to build wealth, the problem is to get it done!
The financial coach is someone who knows how to climb that mountain. They are certified and studied finances on a deep level, which has made them the perfect ally for those who wish to improve their financial health.
They are not someone who is going to offer the client a “get-rich-quick” magic method or a new and infallible “how-to” but someone who will go deep into the root of their financial issues, and how and what they can do about them.
They are a professional who can help the client find clarity in their finances, that is, in their investments, in their insurances, in their savings, and others. They will access their current financial situation and help them to improve it by using their accountability, educational insights and practical experience.
They succeed because they do not focus on instruction and information only, their focus lays primarily on the client. They offer tools and strategies, of course, but they do so by knowing that tools and strategies alone do not solve anything, meaning, they are not going to determine client’s success.
They will teach the basic financial principles such as mathematical expectation, risk management, continuity income, competitive edge and others but what sets them apart from other professionals in the field is that the financial coach will integrate that instruction with the client’s internal game: the way of thinking, belief systems and old patterns that have held them back from the financial success they’ve always wanted.
They are an expert who can provide the transformational tools necessary to help the client manage and improve their financial lives by developing financial strategies that empowers them to achieve their financial goals and to be financially free.
What does a financial coach do?
The work of coaches consists in asking the client key-questions that will lead them to reflect on their own particular issue or about their life in general. They have a skilled method of questioning and inquiring that helps the client think clearer about the critical issues that can make a difference in achieving their wealth goals.
Since financial coaches see money as a tool to achieve goals or accomplish desires, one of the first questions they will ask them is “What is the Life of Your Dreams?” They will teach the client how to dream. Not about the life they want to live in retirement, but about the lifestyle they want to have now.
From this, the financial coach will get down to business! Most people have never made a budget in their lives: this is going to be the financial coach’s first job. Find out how much money comes in, how much money goes out, and where the money going out is actually going.
Then they will begin to examine the roots of the problems. Which are the limiting beliefs that the client has that are preventing them from growing financially and what are their stories and behavioral patterns in relation to money. At the same time they are showing the client that these roots are determining the tragedy or the success of their financial life.
They will help them to clean up the mess, that is, they will address the client’s immediate issues and teach them how to deal with financial problems. They will help them manage debt creating plans to pay it down and will establish an emergency fund, a necessary reserve in case the person becomes unemployed or has to pay for the treatment of any disease or something else.
They will teach them about saving, insurance, investing and diversification. It is not financial coach’s job to tell the client, for example, what investments to make, but to teach them the needed skills to be a good investor and to take care of their assets wisely.
If the client is already financially mature, the financial coach may give them investment advice based on market conditions and help them manage their investment portfolio.
In short, the financial coach is someone who will teach the client to improve their long-term financial behavior, help them set and achieve financial goals, and equip them with the minimum level of financial skills and experience.
The result is a strong support system that converts obstacles that would normally slow client’s progress into opportunities for growth and learning that leads them to finally live the financial life they have always wanted to live.
Do I need a financial coach?
Unfortunately the “Financial Education” subject is rare or non-existent in elementary school, so everyone could benefit from a financial coach. However, usually people who seek their services are those who:
– Are motivated enough to change their financial lives
– Are lacking financial literacy and need to learn how to deal with their finances
– Have a hard time with finances, living a life of lack
– Are in debt and feeling trapped because of it
– Feel fear of leaving their comfort zone
– Have a healthy income but little (or negative) savings
– Are struggling with stress, depression or anxiety due to financial problems
-Want to learn how to invest and how to save
– Want to set financial goals and learn how to achieve them
– Dream about a wealthy life
Benefits of a financial coach
The benefits are numerous and may include:
– The beginning of your financial freedom
– A personal wealth plan, specially customized for you
– Motivation to get things done on a frequent basis
– Reduced risk, less chance of making financial mistakes
– Healing for root problems such as limiting beliefs
– Balance and happiness in life increased
– Supportive environment for accelerated financial growth
– Carefully managed risks to help you grow your investor abilities
– Creative alternatives for your money problems
– Learning and practice of healthy financial habits
– Confidence for investing
– Freedom from survival mode and finally the right skills to thrive.
How to find a financial coach
If you want to learn how to find a financial coach that is going to be the best fit for your needs, then we highly recommend you take these steps:
Step 1 – Write down your goals and objectives in order from top to bottom.
What do you need to accomplish?
What are your top priorities?
Step 2 – Research potential coaches and list them in order of you who feel is the best fit
Step 3 – Interview at least a handful of candidates to find out who will be the best fit for your needs
Financial coach reviews
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It’s just very genuine. He listens actively and addresses the needs of his clients based on their specific preferences, needs and potential. I’m privilege to have him as my financial consultant and being able to share insights, and leadership journey in business; such a humble man with great potential in this industry. Thank you!
No bias, no long stories, no theories. Just practicality takes the interest of every listener in investment, specially those who cannot afford it for now, but still it builds the eagerness to everyone’s heart to have one of it if they has excess funds.
Blessed and grateful to be part of this amazing mission to educate people on how money works! Great professional company and the leadership and camaraderie is outstanding.
Best platform for contacting and teaching what is not taught in schools to help the middle class on how money works in the financial industry and I love the mission of no family behind.
Sharing so many experiences and best practices ! Meeting new leaders. Hearing the latest and greatest tools and being able to learn even more ways to help families and individuals Doesn’t get better than this! Privileged to be a part of this awesome team. I want to be like Kim. I want to be like Tom! Thank you Bill for your amazing presentation. Thank you Aleece and Kim Matthews and everyone else !
Knowledgeable and open to doing what is best for his clients. Trust goes a long way when building a future. Joe is awesome! Always thinking about his clients and ways to meet financial goals in a non-aggressive and hassle-free way. I highly recommend reading his Budget Boss posts and connecting with him directly to help make your financial situation better in real and practical ways!
Genuinely nice person to deal with regarding money and investments. When market was down I was little impatient i asked him same question twice. Instead of ignoring my other question he replied me on both. Gave me advice as well. He is very attentive towards your details. Your good work ethics is always appreciated. I am glad i landed up here. I always watch his advice closely.
I was very happy with Premium Financial Coaching. I worked with Alex. She was the best. She actually cared about me and getting my credit where it needed to be to get a house. I definitely will be keeping in touch with her and sending her pictures of my new house. Thanks again Alex for all your help from the bottom of my heart.