What Does a Financial Coach Do?

A financial coach helps with the strategic and behavioral side of personal finances.  Unlike a financial advisor who assists clients with selecting investments, a financial coach guides the fundamentals of personal finance.  Financial coaches are not only used for personal finances but also to help guide businesses in improving their finances.

The total consumer debt in the United States has significantly increased by over 18% to $17.06 trillion in the last two years.  This increase is primarily attributed to inflation and the rise in interest rates.  The average credit card debt per consumer in 2023 was about $6,400.  

Below is a list of things financial coaches can provide their clients with.

• Spending and their alignment with their values

• Address overspending

• When they have chaos around money in their life

• Clarity when they’re unclear about where their money is going or what they are spending money on

• Strategies on paying off debt

• Being self-aware about their spending habits

• Reassurance for those who are facing medical debt and have a huge fear and avoidance of what that means

• Building confidence to tackle financial stresses

• Letting go of old stories of that's just the way I am and helping them believe that more is possible

• How to stretch their budget

• Know where their money is going

• Realizing how expensive debt really is and how it's holding them back from the things they want

• Looking at your emergency fund in a new way

• Finding more ways to save for the future

• Enjoying life now while preparing for the future

• Dealing with anxiety about credit card debt and helping make the massive shift by paying it off

For every client, I look into their spending, debt, savings, and income while implementing strategies to succeed in each area. I take great pride in the progress and success of my clients and look forward to helping you. Get in touch to learn more!