To become a personal life coach it takes a strong desire to help people go beyond what they believe they can achieve. But what does it take to if you want to become a coach who can take someone who lives paycheck to paycheck to become financially independent? You of course need to become a personal life coach who has integrity, but also someone who can hold others accountable to their own goals.
Above All, You Need to Become a Personal Life Coach Who Walks Their Talk
You can’t fake it.
If you really want to become a coach who helps others get their finances in order, you will have to start with yourself.
The first step to become a personal life coach who has their own finances in order is to save $1000 for an emergency fund. Depending where you are with your own finances, this will either seem huge or easy. If you want to become a coach who has $1000 in savings, you will need to set up a written budget and stick to it every month.
Become a Personal Life Coach who Can be a Role Model of This Type of Commitment for Others
When you achieve this goal, use the money only for emergencies. Emergencies do not include a shoe sale at Nordstrom or getting a good deal on a Wii.
The next step if you want to become a coach who knows about financial freedom first hand, is to pay off all debt as fast as possible, except for your mortgage. You have the $1000 emergency savings, but after that the interest on your debts is stealing the benefit away from your savings and probably your investments…unless you have some really great strategies that you would like to share with the rest of us. Did you know that 60% of people don’t pay off their credit card debt at the end of the month? Become a personal life coach who helps people get rid of their debt.
Want to Become a Coach? Be a Role Model First
After the debt is gone, the next step is to stay on the vehicle that got you to this point. The budget. Now is the time to use the money that you were using to pay interest on credit cards on other debts, and start saving. A good rule of thumb is to have 3 to 6 months of living expenses saved, especially in this economy. Once that is achieved start funding retirement accounts, college accounts, and investments. Now you are well on your way down the road to financial freedom, and you have the tools if you want to become a coach who can lead the way for others.
Accountability Coach, JTS Advisors