When it comes to improving your finances, it’s common to seek advice from one or many financial professionals. Oftentimes, they sell equity investments and other products that put you on the right track to achieving your goals. But, if you don’t have money to invest, are living paycheck to paycheck, or are stuck in debt, then they can’t help. To improve your finances, you need to work with a money coach, instead!
When you’re sick or need medical treatment, you go to a doctor for help. They diagnose the problem and give you direction so that you can get better. Likewise, when your financial situation isn’t where you want it to be, a money coach gives you solutions and helps to improve it!
A money coach is an expert who guides you through a system that leads to you having a financial transformation. They explain how money works and teach you skills that allow you to build wealth. Once you understand some of the basic money rules, your coach walks you step-by-step through the changes that will elevate your net worth!
Having a Financial Breakthrough isn’t just about dollars and cents, either. More often than not, your emotions play a significant role in the way you spend and manage money. Money coaches understand this and that everyone has different emotional spending triggers. As they help to uncover yours, you’ll gain clarity and push past obstacles that may have been holding you back for years!
Whether you realize it or not, some aspects of personal finance are within your circle of control whereas others are outside it. For instance, your actions determine the amount you’ll earn, spend, and save. But, you have zero control over the direction that financial markets move or your rate of return. By working with a coach and concentrating on the factors you can control, you’ll become independently wealthy, faster!
As you can see, a money coach serves an important role in helping to improve your financial standing. Not only that but throughout your entire financial life cycle, too!
Here are 5 more ways a money coach can help you build wealth!
When starting, everyone’s financial situation is different. Some people may be drowning in credit card or student loan debt while others struggle to stay on budget. No matter your situation, a money coach helps you understand how you got there as well as the steps you need to take to get out!
As your financial position gets uncovered, you and your money coach will formulate a customized plan to improve it. Oftentimes, this involves creating a debt repayment plan, establishing an emergency fund, or building a spending plan that allows you to save more money!
With a written plan in place, all that’s left for you to do is follow it. Unfortunately, this is the step where most people struggle the most. For one reason or another, they lose focus or get tripped up by an unexpected expense which causes them to go over budget. When this happens, they get frustrated, lose hope, and at times give up altogether!
But, when you work with a money coach, you’ll have someone to help you regain focus and get your back on track. They’ll be by your side, guiding you through these challenging situations. Not only that but they’ll help you overcome these obstacles and progress towards your long-term goals, too!
Whether you realize it or not, your life becomes the sum of your daily actions. Each habit you build is either going to lead you further away or closer to your goals!
Truth be told, most people have a financial goal in mind that they’d like to achieve. They may dream of getting out of debt, buying a home, or achieving financial freedom. Regardless, they’re unable to turn their dreams into reality because they haven’t built the habits that make them possible!
One of the main reasons people hire a money coach is to build better habits with money. After all, it takes months to build a new habit. During this time, there are plenty of opportunities to get distracted and fall off the wagon!
But when working with a money coach, you’ll have someone to keep you accountable to your goals. They’ll ensure you’re building new habits and routines that allow you to progress towards the things you want most!
In addition, as your financial picture improves, you’ll likely notice improvements in many other areas of your life, too. Many of my money coaching students report feeling more at ease, having better relationships, and being more confident. After all, it’s empowering once you experience positive changes from taking control of your money, and thus your life!
Let’s face it, one of the biggest reasons that people continue to struggle with money is that they never received a formal financial education. Personal finance isn’t taught in school and it’s rarely talked about at home. Because of this, finance is often viewed as a foreign and complicated subject. But with a money coach, it’s not!
At the core, a money coach is an educator. They enjoy teaching and breaking complex financial concepts down into topics that are easy to understand. As your knowledge grows, making better decisions with your money gets easier. Not only that, but it gives you greater confidence to pursue your wildest dreams, too!
Given the taboo nature of personal finance, many people have a difficult time opening up about their finances. Most often, they fear being judged, are embarrassed by the situation they’re in, or are unable to admit that they need help.
But it’s important to remember that everyone needs help from time to time. For example, you probably don’t know how to repair your car, yet you have no problem asking a mechanic for help. Likewise, you may not understand how to fix a leaky pipe, but you can pay a plumber who does. So, if you don’t know how to get your finances in order, why would hiring a money coach be any different?
Despite your money fears, conversations with a money coach are held in strict confidence. In addition to that, coaches are non-judgmental and private. They realize that everyone has a unique money personality as well as their own struggles. They’re not interested in criticizing or discussing your situation with anyone. Instead, their interest lies in teaching personal finance and helping you succeed with money!
Without financial literacy, most people are bound to make mistakes with money. The only questions are how many and how expensive are they going to be!
There’s no question that making poor financial decisions can cost you large amounts of money. Mismanaging or wasting a few hundred dollars on your recurring costs each month will quickly add up to thousands of dollars each year. When you consider the opportunity costs, they can even turn into 5 and 6-figure mistakes. If that wasn’t bad enough, financial mistakes can take you years to recover from, too!
Luckily, money coaches have years of experience and financial strategies that can prevent you from making errors. They also steer you away from financial traps and keep you from paying unnecessary fees – both of which reduce the time it takes to achieve your goals!
With a money coach, you also have an extra set of eyes on your finances. They’re able to review the details of your financial statement and identify gaps or shortcomings that you may not even be aware of!
Not only that, but a money coach is your personal sounding board, too. You can bounce ideas off of them and brainstorm new ones, together. Unlike some other professionals, they look at these opportunities objectively and from an unbiased point of view. Afterall, money coaches don’t sell financial products nor do they earn commissions off of the ones you buy!
Despite having a deep desire to build a strong financial foundation or wealth, many people still hesitate when it comes to hiring a money coach. They may experience feelings of shame, guilt, or fear that are so intense that they’re unable to take any action at all. But if your financial situation is going to improve, you have to learn how to manage your money differently and a coach can help you!
No matter the circumstances you find yourself in today, a money coach can help. Regardless of whether you need to learn the basics or have a Financial Checkup, a coach will find ways to improve your situation. Not only that, but they’ll save you time and money throughout the process, too!
Do you still have questions about working with a money coach? Schedule your FREE call now!
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