Your Money Coach Financial Services – Tips for a Money Coach

Your money coach financial services are an important factor in clients selecting to work with you. All money coaches should determine what they can and cannot offer for their clients before hanging out their shingle as a coach. Your money coach financial services can be diverse and broad-based, or they can be narrow and fit nicely in to a selected niche.

There is a growing demand for financial coaches today. With financial inequality increasing and the cost of goods and services on the rise, for most people, money is getting tight. Individuals and families need to find ways to stretch their dollars. They need to discover ways to save, budget, invest, and spend wisely. This is where your money coach financial services will help.

How to Start Your Money Coach Financial Services

  1. Know your demographic. Think about who you want to coach and why. Do you want to work with university students, families, executives, athletes, poor people, retirees, or any other specific group. You can, of course, work with any group who wants your services, but it may help to focus your energy, knowledge, and marketing if you narrow your demographic to a certain extent.
  2. Once you have narrowed your demographic, you can determine your educational needs. If you want to work with families with children headed to college, your money coach financial services should include extensive knowledge of scholarships, grants, financial aid, and college savings programs. If you want to work with retirees, your money coaching financial services should include information on best places to retire, how to stretch your dollars while retired, and ways to get often unknown senior discounts.
  3. Get educated. If you have years of experience with your targeted demographic, then you may not need any specific education. However, if your experience is a bit short, take the courses necessary to give you the knowledge you need. You are dealing with people’s hard-earned money – you need to know your stuff!
  4. Get your own financial house in order. You can help people control their spending if your credit card debt is five figures. You cannot help others with saving for retirement if your retirement plans depend on winning the lottery. Be a role model for your clients and learn through doing. If you can budget, save, invest, and spend your money wisely, then you are better able to teach others how to do it.

Once you have your coaching business set up and have secured a few clients, you can get some feedback on what services you should offer. For instance, do clients want you to offer investment advice? Many money coaches leave this to brokers or financial advisers, but perhaps you have a good understanding of stocks, bonds, and other investments and believe this would give you an edge on the competition. Ask for feedback and then give the clients the services they want.

You have plenty of choices when selecting your money coach financial services, but you better know what you are doing or your money coach career will be a dead on arrival! Have a plan before you begin and you will be better able to chart a successful course for your money coach career.

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Fred Philips
Business Coach
Writing Team, Coaches Training Blog Community

FREE Video Course: How to Build a High Paying Coaching Business

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Comments

  1. Sherill says

    I agree becoming a money coach is very important and knowing what to do, what services to offer and being educated on financial aspects makes you a credible and better money coach.

  2. Natalie says

    Great tips for those aspiring money coaches. I particularly love the last tip which is get your own financials in order. How can you give credible advice if you have your own financial difficulties — meaning you are in debt? I personally would not have faith in you if you are having your own financial struggles.

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