Should you work with a Financial Coach?

Jul 15, 2021 | Financial Wellness | 0 comments

should you meet with a financial coach

Should you work with a Financial Coach?

In our years doing this, almost anyone can benefit from working with the right Financial Coach. There is always room for improvement and plenty of opportunities to increase your Net Wealth. But how can you tell if you should work with a Financial Coach?

Financial Coaching is a new, growing profession in the finance industry, falling somewhere between a Financial Advisor and a Life Coach.

Before we jump into how to determine if you should work with a Financial Coach, let’s talk about what Financial Coaching really is and how it works.


What is Financial Coaching?

A Financial Coach is a professional who teaches you how to manage your money, improve your finances and reach Financial Freedom. Programs vary in a few ways, depending on the Financial Coach.

Ways Financial Coaches Programs may vary:

  • Format: one-on-one sessions or group coaching

  • Focus: budgeting, setting goals, paying off debt, or others.

  • Frequency: meeting weekly, monthly, or quarterly

No matter the Financial Coach, a good one will help you work through and overcome limiting money beliefs, and talk you through solutions to your problems in an objective manner.

Ideally, throughout the process, your Financial Coach asks you plenty of questions about your life, goals, and plans to help make curated suggestions specific to you.

Finally, the goal of a good financial coach is to help you become self-sufficient as possible. Meaning as they guide you through the process, they are equipping you with the knowledge and confidence to accomplish your goals, but not doing the work for you.

Now you might be wondering, what’s the difference between a Financial Coach and a Financial Advisor? Isn’t it the same thing? The short answer is no. These financial professionals play a very different role in your overall strategy. Simply put, a financial coach helps you create wealth, a financial advisor helps you increase your wealth.

If you want to read more about the differences between a Financial Coach and a Financial Advisor, check out this Blog: Financial Coaches vs Financial Advisor.

While most everyone could benefit from working with the right Financial Coach, it isn’t for everyone. Sometimes you’re looking for other specialized financial professionals like a CPA to help you with your taxes, or a Financial Advisor to invest your money for you.

Take this quiz and find out if you should work with a Financial Coach!

ANSWER THE FOLLOWING QUESTIONS WITH A YES or NO:

  1. Do you feel like you have little to no money at the end of the month? YES or NO

  2. Do you struggle to make consistent progress toward your financial goals? YES or NO

  3. Do you feel like debt is holding you back from living your life? YES or NO 

  4. Do you feel overwhelmed, stressed, or worried when thinking about money? YES or NO

  5. Do you lack confidence or find it difficult to navigate finances on your own? YES or NO

  6. Do you worry about having enough money for retirement? YES or NO

  7. Do you want more time and money to do the things you love? YES or NO

If you answered YES to 1 or more of these questions, it’s time to prioritize your financial wellness, and working with a Financial Coach might be right for you! Continue reading to learn how Financial Coaching can help you overcome these challenges, build real wealth, and improve your life.


#1: You have little to no money at the end of the month.

Regardless of income level, more than 70% of Americans are living paycheck-to-paycheck. Meaning there is little to no money at the end of the month to put towards paying off debt, saving, and investing.

We used to be part of that 70% and hated the feeling of spinning our wheels and clocking into jobs we hated because we needed the next paycheck. So we learned how to break the cycle and reach our financial goals.

Now we help our clients master their budgets and understand their cash flow so instead of saving what is left at the end of the month, they hit their saving and investing goals first!

#2: You struggle to make consistent progress toward your financial goals.

Maybe you have classic goals like getting out of debt, buying a home, and investing for retirement, but you’d also love to take an adult gap year, travel the world, or start your own business. But you aren’t sure where to start, what your priorities should be, and what steps to take so you can make consistent progress toward reaching them.

When you don’t have a comprehensive strategy, and you’re always ‘shootin’ from the hip’, consistency is impossible. We ought to know. We tried the wingin’ it thing too and it just kept us broke and frustrated.

Having dreams is different from setting actionable goals and breaking them down so you know what you need to do so you reach them. We help you get consistent results by helping you create realistic goals and expectations, providing accountability and motivation to help you see progress month after month.

#3 You feel like your life is on hold because debt is holding you back.

More adults than ever are putting their lives on hold because of their debt, but your Student Loans shouldn’t feel like a life sentence. Millennials are choosing not to date, get married, and become homeowners because of their burden of debt.

Before we started our Journey to Financial Freedom, Dylan thought homeownership was impossible. Feeling weighed down by student loan debt, he thought it wasn’t even worth thinking about.

We help our clients come up with a realistic debt elimination strategy that doesn’t make you feel like you’re delaying life, but helps you get out from crushing debt!

#4 You feel overwhelmed, stressed, or worried when you think about money.

Stressed because you never got a financial education and now feel like you lack the right information. Overwhelmed because there is so much you need to research or teach yourself, but so little time to do it. Worried because you feel like you’re behind.

According to the American Psychological Association, work and money are the leading cause of stress in America. Personal finance is emotional and complicated.

So we coach you through those negative feelings, explain things in an easy-to-understand way, and help you overcome hurdles that are keeping you from feeling confident and living without financial stress.

#5 You don’t feel confident navigating finances on your own.

Managing money is more stressful than ever and it’s not your fault that no one ever taught you about finance. Then, when you try to do it yourself you find there is endless information and conflicting opinions that add to the confusion. To top it off, the finance industry deliberately makes things sound more complicated than they really are, putting wealth further out of people’s reach.

The truth is you can be very successful using simple financial concepts and principles, but you have to be able to sift good information from the bad. The fact is, we paid off debt, saved up a 2-year emergency fund, and started a business using math a fourth grader could understand. The key was in our strategy, mindset, and approach.

You shouldn’t have to figure it out alone. We’ll help you understand how to build a financial foundation while teaching you what you need to know to build wealth based on your situation and goals.

#6 You worry you will not have enough money for retirement.

This is so normal it’s scary. Retirees are more afraid of running out of money than they are of dying. But with a little financial education and proper planning, you can put your mind at ease and enjoy your retirement!

Intentionally planning for retirement was something we thought we would get to “one day.” But once we started our Journey to Financial Freedom, we realized we needed to prioritize our future selves.

We do not advise about securities (stocks, bonds, etc…), manage your retirement accounts or funds. Our involvement in the investment, tax, and legal side of our work is strategic strictly supportive.

We help you create cash flow in your budget to contribute regularly, provide general information, share our personal experiences, and coach you through conversations with CPAs, Financial Advisors, etc. so you know what questions you need to ask and how to ask them.

#7 You want to spend more time doing what you love, not stressing about money.

Getting an education in personal finance takes a lot of time, energy, and effort. Not to say that it isn’t important, but it isn’t exactly your idea of fun. Simply put, you have other things in your life you would rather be doing. Such as – – literally anything else.

We took the DIY approach and it cost a lot of time, money, uncertainty, and frustration. Had we known about Financial Coaches and worked with a professional, we probably would have been able to get better results faster, without the anxiety.

Working with a financial coach saves you time and money so that you can put energy into the things that matter most to you. We give you the information you need to know, nothing you don’t, and all with your best interest at heart.

So why spend more time learning about financial services and products that aren’t a good fit for you, if you’d rather be out enjoying yourself doing things you are passionate about?


Hopefully, you have found this information helpful as you try to determine if working with a Financial Coach is right for you. Our advice, as you seek out the professional that is right for you, is to do your research and find someone that you connect to and feel like you can trust.

In this article, we shared our perspectives and examples of how we help our clients. But every financial coach works differently. Some focus strictly on budgeting, or debt, while others, like ourselves, offer more comprehensive services.

If you’ve decided you should work with a Financial Coach – be sure that the Financial Coaches you interview can support you in the ways you need to improve your finances. Want to work with us? Set up your FREE Discovery Call and let’s see if our program is right for you!

Have any questions about financial coaching? Ask away in the comment section below.

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