You’re doing fine with money, you have no significant debt, a decent salary, and you know what a stock is – so why would you need a financial health coach?

What is a Financial Health Coach?

First of all, let’s say what a financial health coach is not. They are not financial planners, CPAs, tax specialists, or stock brokers. What do they do? They provide information, direction, and guidance about various financial matters. They help clients find a healthier financial future, and by doing this, they also help reduce anxiety, stress and anguish about financial issues. So – they can help both with finances and health!

9 Reasons You Need a Financial Health Coach

1. Saving for something. No matter where you are in life’s journey, there is almost always something to save for. A down payment on your first home, a college fund for your children, or money for your retirement – money needs to be put away. Do you know all the best ways to do this? You financial coach does.
2. Are you a money management expert? Probably not. But, financial coaches understand money management and can help you learn the basics. You may know how to write a check, pay a bill, and put some money in an IRA, but truly understanding how to manage your money has a much greater learning curve. Let a money coach help you reduced the learning curve.
3. Do you know how to create a budget? Do you even know what a budget is? A budget is crucial for both households and businesses. No matter how much money you make or have in the bank, it is essential to create and stick to a budget to ensure that you have enough money for all that you need and want.
4. Do you live a feast or famine lifestyle? Do you spend it when it comes in and charge it when you are short? A budget will help smooth out your financial roller coaster ride, but you must also change your behavior and thought processes if you truly want to escape the feast or famine lifestyle.
5. Do you have goals outside your career? Perhaps you have a specific vacation you want to save for. Perhaps you have a hobby that costs money? Perhaps you dream of starting your own business, but the lack of funds prevents you from taking the plunge. A financial health coach can help you identify and clarify these goals, and then help you find ways to put aside some money to achieve these goals.
6. You want to give your children as good a life as possible. Money isn’t the most important thing when raising children, but it certainly helps provide them with the necessities, and some of the luxuries in life. You don’t have to keep us with the Joneses as a family, but it’s nice to be able to provide a nice home and lifestyle for your family.
7. You also want to be a good financial role model for your kids. Your habits will influence them, and you don’t want them to begin their adult lives with poor financial habits.
8. A financial health coach will help you change your belief system. Financial health coaches help you learn a new mindset and overcome obstacles to achieving financial health.
9. Working with a financial health coach can help you gain more confidence about your financial attitude and decisions. The more confidence you have in your own abilities, the less you will need a financial coach.

There are so many reasons people need financial coaches. As the investment world gets more complex and the economy gets more competitive and prone to ups and downs, the need for financial coaches will undoubtedly grow.

So – thinking about changing careers? You have just read about all the things a financial coach can do to help people live the financial life they desire. If you are seeking a new and exciting career, coaching, and in particular, financial health coaching, is a great choice.

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Fred Philips
Business Coach
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