What IS financial coaching, you may ask? These days our lives are much more complicated than decades ago. In the “good old days” there was maybe a list of 6-10 ESSENCIAL monthly bills most people probably had.
Mortgage or rent, utility bill, homeowners’ insurance & car insurance. Maybe a car payment, property tax bill if it was not part of the mortgage payment.
Not much else, for EVERY Month bills. It seemed much easier to keep track of your monthly spending. Even credit cards were just used for “emergencies.”
These days, EVERYTHING is on “credit” or is a must Have! We borrow for college, we HAVE a cable bill, wi-fi bill, streaming services, cell phone bills to cover EVERYONE in the family. Maybe you have water delivered to the house vs drinking it from the tap. We eat more takeout food; we go out to eat more than years ago. We pay to have food delivered. We pay random people to pick us up and drive us places, we MUST have a credit card for MOST if not all of these things! Hey, I just switched my cell carrier, and to get the “deal”. Which did save me $100.00 a month, 😊You need to allow automatic payments on your credit card. They do not tell you that till the very end of the transaction, and it took 2 hours to get it set up! Long story, but at that point I was like, I just want out of here!
The point here is as a society we seem to “need” all this stuff. Can you really survive without a cell phone? You need an App. for everything! I digress…
So, what does a Financial Coach have to do with all this? The world is busier, and we can easily go down a rabbit hole and overspend, which can lead to more debt than in the old days. A “Coach” is the person that helps you get your arms around your personal finance lifer. The “Coach” helps you face your fears, vs putting your head in the sand, thinking this will pass. It does not pass; it usually gets worse. The “Coach” is that person that’s right by your side helping you make better decisions one step at as time. Money can be stressful when there is not enough, or when you are having a hard time changing your habits. People have life coaches, why not a coach that helps people make changes in their financial life? People pay a coach to “force” them to work out or get on track with better eating habits. It makes sense, right?
It’s a thing! And I think it would be a cool gig to be part of! Talking to people about how to help them de-stress over money and help them create a feeling of being in control. I think I may do this!
two chicks talking money. 