What Can a Financial Coach Do For You?
A simple way to clarify what a financial coach is to a financial advisor is as follows:
Financial advisors often tend to focus on implementing monetary items and techniques, while financial coaches focus much more on the fundamentals of individual money management, behavior change, and also creating an environment of accountability for their client's spending habits.
While financial advisors most commonly help to maintain the wealth that the client currently has, a financial coach's task is to provide their client the expertise, abilities, that will assist them to live a debt-free life and start building wealth.
A big difference between a financial coach and an advisor is that coaches do not sell or try to push financial investments to their clients. We educate our clients on the different options of insurance coverage, budgeting, and ensuring our clients has the proper diversification when it comes to liquid versus illiquid capital.
But we never provide financial guidance nor do we suggest specific investment opportunities. When clients come to me they are usually in some type of financial crisis and do not have any additional monies to invest. They are looking for relief with their debt and investing is the last thing on their minds.
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Financial coaches have a unique role and can play a complementary role with a financial advisor once the client is in a solid financial position, which means they are debt-free! Both individuals play key roles in their client's financial journey, but each does very unique things and works with their clients in very different financial situations.
Financial coaching allows me to mentor and guides my clients through their financial journey. As a financial coach, I get to dive more into my client's "Why" to understand their relationship with money. And finding out answers to the below questions is life-changing:
Let's discuss what I do as a financial coach. First and foremost I am a coach. I engage with my clients by supporting/guiding them to achieve their financial goals, and that all elusive "Why" they have been searching for. I like to tell my clients I am their Yoda and they are Luke Skywalker. And the road to financial freedom is paved with setbacks and hard work.
I offer encouragement throughout their entire journey, which helps them stay on track, and also holds them accountable to their financial goals. In the end, I am their biggest cheerleader and their success continues to fuel me to find more clients that are in need of finding their financial "why".
Life, Housing, and Coaching....Maybe Not In That Order
A High Credit Score Does NOT = Financial Success??
#FICOscore #CreditBureaus #CreditScore
Why is the FICO score formula not published? Because then all of us would know how to get around the FICO credit system, but there is a better way to increase your FICO score...And that is to be debt-free!
Did you know that 35% of your credit score consists of the length of your credit history? The credit bureaus are looking at your debt load and factoring these dollar amounts into your credit rating.
The next is 30% is based upon your debt level. So the amount of debt that you're carrying. So guess what, the more debt you carry, the better your FICO score gets. Well, that also has a problem on the other side. And I'll just digress really quick. When your debt usage is high and you try to go get a mortgage or another line of credit. They look at a thing called DTI debt to income ratio. Well, you can't keep on strapping on more debt and expect to get more. So look where that takes you. That takes you down a path of staying in debt.
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Why Money Behaviors Cannot Be Taught??
It's Personal!
Your personal experiences with money are more biased towards how you think the world works!
The challenge for us is that no amount of studying or open-mindedness can genuinely recreate the power of fear and uncertainty
Some lessons have to be experienced before they can be understood.
Are you sick and tired of being sick and tired?
You do not have to do this alone! We have a game plan that will assist you from where you are today to where you want to be, living debt-free! We have been in the same place you are today, and we know what it takes to become debt-free. You have a friend for your journey. All you have to do is reach out to us!
#debtfree #debtfreecommunity #studentloans #financialfreedom #TruPodcast
Being Debt Free = Freedom???
4 Reasons Why Being Debt-Free is Not Socially Acceptable
Did you know living debt-free is considered being weird? Or even not socially acceptable! When I heard that the first time I did not how to respond. And the reason for that was I too had been taught that debt is a tool that would allow me to win in life. Well. I now know today that was a line of BS, and me spending 50% of my hard-earned paycheck on a monthly basis was C-R-A-Z-Y!
When you hear about people being debt-free and not living paycheck to paycheck, you are probably thinking....That they are totally weird. The debt-free lifestyle can be for you...If you want to put the hard work in!
Check out these 4 reasons.
1. Budgets Aren't for Everyone
The reason why most people do not use a budget....Drumroll....It is too time-consuming! And that is where debt wins every single time. So, people that want to live a debt-free life will take the time and create a budget each month, and they will make sure they cut out all unnecessary spending. And by doing this they can map out what they need each month to support their 4-walls (Mortgage/Rent, Groceries, health insurance, Automobile expenses).
2. Self-Control
How is your willpower when it comes to walking past a huge TV or shoe sale? Is that impulse buy calling your name? Well....If you are just buying things to keep up with the Joneses. Guess what...They are broke! Cause those impulse purchases are being charged on...credit cards. If you want to be debt-free you know these purchases are not going to erase your problems nor make you feel better. Instead, be weird and save up the money?.. PAY CASH!
3. Sacrifice Sacrifice Sacrifice
Going out to dinner three times a week, going to the movies, having the top-tier cable package. These are things people cut out of their budget when they are wanting to become debt-free. Just remember: Budget reductions are temporary, and once you are debt-free you will have more room for extras in life.
4. No is Your Best Friend
Are you always saying YES to every social opportunity? Vacations, shopping trips, eating out with co-workers, or just spending money. By you saying NO you will be that much closer to that debt-free life you have been wanting. Make No your best friend!
You Too Can Live Debt-Free!
The only way to live a debt-free life is to BE DEBT FREE! You have to make the decision that you want to be debt-free. And all you have to do is start! There is a better way to live and it starts today with you changing on how to look at money. There is nothing holding you back. Take small intentional steps and before you know it you will be debt-free.
Does it feel impossible or confusing to achieve your dream financial future Whether you're trying to destroy debt, pay off your home early, or give more, we can help you create a plan that sets you up to win with money. Will you let us help you?
You do not have to do this alone!
Are You Ready for Change? Start Now!
Which One Would You Choose?
I've been thinking about this for a while and need your help deciding
- Become financially free-No more living paycheck to paycheck
- Start enjoying YOUR paycheck
- Have at least $1,000 in your savings account
Do You Want to Be Different??
