What Would You want Your Money Coach to Do?


When you start your financial coaching business, one of the best ways to begin is to think about what you would want your money coach to do? If you were hiring someone to help with finances and help you learn to manage your money, what would you want your money coaching sessions to entail? What topics, what skills, what information would you want to cover?

This advice is especially important for financial coaches just starting out in the business. You have presumably taken a coaching course specifically designed for financial coaches, and you may have experience in the business world. So, with education and experience, you need to figure out the most important topics to consider when coaching clients.

Think of yourself as your own financial coach. Think of yourself going to your office for a coaching session. Think of yourself writing a check to yourself for the most recent coaching session. Think of what you just learned from your own expert coaching.

What Would You Want Your Money Coach to Do?

The first thing you would want your money coach to do is to listen to you. Yes, you would want him or her to actively listen to your issues and your expectations. Without truly listening, your money coach has no idea who you are and what you want.

The next thing you would expect is for your financial coach to organize your needs, issues and goals. Prioritizing your financial goals is crucial to your financial health. If your coach is not organized and fails to see the value of organization and prioritization, you might want to find another coach. Your clients might think the same way!

You would also expect a money coach to talk about budgets. Budgets are one of the most important components of financial health. Almost everyone, unless you are Warren Buffett or Bill Gates or Oprah, needs to know how to budget. If your money coach is not discussing budgets, get a new money coach. Your clients will be thinking the same way!

One of the more controversial issues for some money coaches is investment advice. Should a money coach offer investment advice? If you think about what you would want your money coach to do, you would most likely expect him or her to offer some advice on types of investments and amounts to invest. However, most money coaches stop short of offering advice on specific investments. They leave that to stock brokers and financial advisers.

Becoming a Money Coach

Once you have the education and perhaps some experience, once you have found an office and decorated it tastefully, once you have designed and implemented a marketing campaign, you must be ready for the clients who start knocking on your door. You have to have a plan, session parameters, and an outline of what types of advice you will offer.

This outline will change with each client and their respective needs, but the parameters will stay the same and sticking to the plan will make you a more effective money coach. If you can take a moment to think about what you would want your money coach to do, you can effectively create a successful practice and offer clients the outcomes they seek.

Hope you took some great value out of this post today! I’d love to hear your feedback, so make sure you leave a comment with your thoughts or questions. And also, you can click on the Twitter button below to retweet this article…Thank you!

Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

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  1. Claire says:

    Money coaches deal with very important issues and planning what specific financial aspects you will be discussing with your clients is vital.

  2. Jocelyn says:

    Knowing what topics your clients want you to discuss with them as a money coach is important. Having an outline of what needs to be covered in your sessions is essential to make you an efficient and effective coach.

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