This is a question I get quite often regarding what I do as a money coach. There are different definitions of what a money coach does out there but my goal as a money coach ( and Certified Financial Educator) is to empower and teach women how to make the right decisions around their finances in order to build wealth and live life on their own terms. I essentially work hand in hand with my clients to deep dive on and revamp their finances.
Being empowered means taking ownership of your finances, changing your negative money habits and creating new positive ones, creating consistency, becoming accountable and making the right money decisions.
So what exactly does the money coaching process entail?
My coaching process involves helping my clients to:
- Understand the relationship they have with money
- Address the way they feel about money
- Develop the right money mindset to build wealth (No shame, no judgement)
- Determine where they currently stand financially and how they got there
- Identify their core values and what really matters most to them that money can help them accomplish
- Understand personal finance fundamentals like budgeting, building savings, understanding credit, understanding investing, debt repayment, long term financial planning etc
- Stay accountable by working with them as their accountability partner throughout the coaching process.
As a money coach i do not sell investment products or insurance, neither do I work on a commission basis. My focus is to help my clients improve their overall relationship with money and get them on the path to what they define as financial success and financial freedom.
How do you determine if you need a money coach?
Some of the most common concerns I hear when I first talk to the women I work with is that they feel they are behind on or unable to accomplish their goals from savings, to paying off debt to pursuing their dreams of owning a home or establishing their business etc and they need some guidance to assist them with getting their finances on track.
If this sounds familiar and you feel like your finances are out of control, you are stuck in a vicious cycle (living pay check to pay check), overspending or you just can't seem to get a grip on your finances overall then you should consider working with a money coach.
Things to do before choosing a money coach
Before you decide to work with a money coach make sure you are clear on what you want to accomplish in terms of your financial goals. Also be sure to do your due diligence by reading up about them online, and by checking out their reviews as well as as any references they have (Google is your friend). In addition be sure to talk to them on the phone and be comfortable they are a good fit for you.
If you need help with your finances, it is very possible for you to work things out on your own by establishing the right mindset and creating a solid plan. However, if you feel like you need more guidance and support/accountability, it is definitely a good idea to work with a money coach - your future self will thank you.
Bola Onada Sokunbi
Certified Financial Educator & Money Coach
Founder - CleverGirlFinance.com
Want to chat? Check out my coaching program HERE.