Your money coach network – which can be anything you use to obtain advice on financial issues is a great way to learn about investing, loans, budgets, expenses, and anything and everything that has to do with personal or business finances.
However, your money coach network – the websites you visit, the stock brokerage you use, the friends and co-workers you talk with, the neighbor who gives you a hot stock tip, the financial adviser at your work – may not be enough for some people.
Certainly there are many people who don’t need to spend money on a money coach. The network they have accumulated and developed over the years serves them well. Plus, they have enough knowledge and common sense to use all the information from their money coach network wisely.
Does Your Money Coach Network Work?
But, is your money coach networking meeting your needs. Do you need a wealth coach? Do you need someone who can help you stay out of debt, teach you about profitable investing, help you understand how to create and stick to a business or personal budget, or put you on the right path to saving enough money for retirement?
If you think your money coach network of websites, financial advisers, friends, and coworkers leaves something to be desired, you may need a money coach. But, how do you tell if you really do need to shell out some cash and hire a money coach?
To borrow from Jeff Foxworthy (you may be a redneck if…), here are a few reasons you might need a money coach:
You might need a money coach if:
- You think retirement planning means looking at cruise itineraries and travel brochures with pictures of palm trees and white sandy beaches on the cover.
- You think Social Security will keep you in the lifestyle to which you are accustomed.
- You buy every hot stock tip your stock broker gives you.
- You think a weekend in Vegas will help you get the money needed to increase your kid’s college fund.
- You think college tuition planning is hoping your kid gets an athletic or academic scholarship because he or she is really good in Little League or won the third-grade spelling bee.
- You don’t know and have never known your credit scores.
- You don’t analyze and reassess your insurance every year – or worse, you don’t even know what insurance you have.
- You are still paying for that cool replica team jersey you bought last year because you put it on your credit card.
- You think IRA is the name of the guy your company hires to do their taxes.
- • You think a CD is a small round disc that contains music
- • You think 401(k) is a formula you learned and subsequently forgot from 7th grade algebra.
- • Your like to trade stocks and you think PE means Please Earn me money.
- • You think that 5-cent Canadian mining stock you purchased is your ticket to a golden retirement.
- The pile of bills is higher than a stack of breakfast pancakes and is beginning to collect dust.
- The money ends before the month.
If this slightly humorous list hits too close to home, your network of financial information may be lacking. You just might need a money coach because your money coach network is definitely not working.
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