Most Americans struggle with their finances. They likely were not taught well by their parents, likely received little to no education abount it, and few budget or have a plan as to what income streams come in and how do they go out. 78% of Americans are living paycheck to paycheck and most lack $400 to pay for an emergency expense. It is becoming more common for people to seek a professional friend or Financial Coach, to accompany them to get their household finances in order, so to ultimately live life with more peace and joy.
What is a financial coach?
A financial coach helps you create goals and actually stick with them so you’re not just dreaming about financial peace—you’re living it. Financial coaching is different from any other finance-related job. CPAs help you with your taxes. Financial advisors help you with investments. But financial coaches work with you to create a start-to-finish plan for your money and help keep you on track.
Financial coaches often work with their clients over several sessions—focusing on anything from fine-tuning your budget to discovering your long-term goals to working through a real financial crisis. No matter the situation, financial coaches sit with you one on one (we call it “kneecap to kneecap”) to help you overcome the challenges that hold you back in your finances.
When should I work with a financial coach?
That’s the great thing about a financial coach—they can help you in any situation! Maybe you’re up to your eyeballs in student loans or credit card debt, or you’re having money fights with your spouse. Or maybe you have big money goals—like saving to buy a house or setting yourself up for retirement—but no plan to achieve them. Regardless, a coach can meet you where you’re at and steer you in the right direction to win with your money.
How much does a financial coach cost?
Ramsey Preferred Coaches (RPCs) are actually independent coaches who charge their own rates after your free consultation. If you choose to work with an RPC, they may charge a flat rate that includes several sessions, or they may charge an hourly rate for each session. Generally, though, financial coaches will work with you to make recommendations based on your needs. My fee is negotiable based on your situation. My goal is to help you live into your preferred future.
What is the difference between Financial Peace University and financial coaching?
Financial Peace University (FPU) is a nine-week class that teaches the nuts and bolts of Dave Ramsey’s principles. Though financial coaching and FPU are different, they actually go hand-in-hand. In fact, many of our coaches will encourage you to take FPU before or during your sessions with them. Think of it this way: FPU lays the foundation that your coach uses to build a plan for your money.
How do I prepare for my coaching session?
The great part about working with a financial coach is that they’ll guide you through every step of the process. But during your first consultation, your coach will ask questions to get to know you—your goals, your dreams, your past, your pain points, etc. So be sure to have your answers ready.
Session 1: Paint Picture
Duration: 1-hour video conference or in person
Topics: Budgeting + saving
Leave with: A clear picture of where your money is going each month
What to expect:
- Get to know your coach.
- Talk about your income, monthly bills and current saving practices.
- See where your money is going today and reflect on what you want to change.
- Learn my favorite tip to make saving a priority.
- Receive a “Financial Peace University” Toolkit with DVD’s to move forward.
Sliding scale fee totally negotiable to your financial situation