How is a Financial Coach different from a Financial Advisor?

You may find yourself wondering “what does a Financial Coach do, exactly?” and, “How is it different from what a Financial Advisor does?” You are in good company with wondering this... I had no idea myself when I first learned that I could be a Financial Coach! So let’s see if I can help clear up some of the common questions for you here :)

A Financial Advisor is a job title that many people are familiar with, they help you make decisions with your money generally around investments and retirement. Here are some things that Financial Advisor’s do:

• Manage your investments on your behalf.

• Help you decide what types of insurances you need and how to obtain them.

• Help guide you in saving the correct amount of money for big long-term goals like paying for college and retirement.

• Help you to know when you can make big financial decisions like buy a vacation home or retire.

This looks confusing, right? You should have a guide ;)

They have quite amazing ways of factoring in your current lifestyle and income, investment risk tolerance, and future lifestyle goals to magically figure out how you should invest and how much to reach the goals you have. Hopefully, my use of the word “magic” helps you to see that this is NOT in my wheelhouse! I happily refer clients to speak with a Financial Advisor for anything related to investments! 

What I do as a Financial Coach is to help clients get a handle on all of the nitty-gritty daily tasks around their money. We work on:

• Establishing good money habits with organization, savings, and bill pay

• Help them to see where they could save money because they are paying more than the average market rate

• How to pay down debt most effectively for their personal situation

• Making their money decisions feel good by aligning them with their personal value system

• Reduce stress around money and financial decisions by empowering our clients through education.

Y’all. That is the biggest one for me! Let me shout it one more time for the people in the back…

** Financial Coaches help clients reduce stress around money and financial decisions by empowering them through education. **

I love working with women who are ready to put in the work it takes to shed the overwhelm and disorganization because I know what it will do for you! It is truly life-changing to get your money in order. Clients routinely tell me that they sleep better, have more fun when they go on vacations, enjoy their free time more, etc. all because they aren’t constantly worrying about money! It doesn’t matter how much money you make, money stress can be there for everybody, and I know that.

Hopefully, you can now see the benefits of having a Financial Coach in your corner! If you are reading this and thinking “this lady is speaking my language!” then it’s time for us to have a chat! Schedule a free Q&A Call with me today!

Being Intentional

Congratulations! By reading my blog, and seeking advice from a financial coach at all, I feel as if you are already taking the first step to money success: you have decided to be intentional! You may not yet know what that intention will have you start with, but you are thinking about it. It could start with wondering if you have another blue top buried somewhere, rather than rushing right over to the store or your favorite online boutique to replace the one that got a stain on it today. You are intentionally considering if you need to spend that money to get the outcome you desire: a blue top without a stain to wear. Celebrate this first step! 

Being intentional about money doesn’t need to be super complicated. I actually like to keep things as simple as I can and keep the more complicated tasks for only once a month, a few times per year. Sometimes clients get concerned when I tell them that I will be showing them how to use a shared spreadsheet for their spending plans. They don’t want to spend all of their time nerding out on their money... Usually, my clients are already overwhelmed with their to-do list and they don’t want to add another task to it! 

Don’t worry, I’ve got you! 

The spreadsheet may take a little while to get used to, but once you get it dialed in, you will be so surprised what a little intentional time spent on your money will do! It will REDUCE the amount of time you spend WORRYING about your money. You will already know what’s coming up, and what to do the handle it - we will have talked about it together!

So, cheers to you! Taking that first step, learning more about money. Being curious. Being intentional. What will your next step be? Perhaps you keep reading and listening, perhaps you want to hit the 2x button and get to your destination faster? If you want help speeding up the learning curve, schedule a Q&A call with me!

A Shift in Perspective Can Help Your Money

I’ve always been a little disappointed with the view from my home. I can see a beautiful sunrise, but it’s mired with multiple utility poles and more lines than I care to count. As a person with the desire to seek beauty, I still appreciate it, but I rarely would share a photo with others because of these flaws. This year, my husband and I blazed a trail from our yard down the very steep bank to the river’s edge. Suddenly I have this gorgeous view, unmarked by phone and electrical lines - the same property, the same sunrise, just slightly down the hill… a change of perspective.

“Sometimes we get so caught up in the situation we are in that it’s hard to see the way through.”

Sunrise… meh

Try as I may to hide those lines, there they are along the left, cutting off the best of the view.

Sunrise: Ethereal

Sometimes we get so caught up in the situation we are in that it’s hard to see the way through. As a coach, I often see my role as helping a person become an observer of their situation financially and that is rarely black and white. Your bad day at work led to some “retail therapy”, shift from shopping to feel better, to taking a walk in nature or meditating. Your overscheduled weekend made it harder to plan meals for the week leading to a night of takeout and another night eating at a restaurant that wasn’t on your spending radar. Shift from paying for conveniences to taking 1 hour to plan for those days when convenience is needed.

We often don’t consider how our mood or time management effect our finances, but they do. I like to help my clients step back and see the root of why their situation is how it is. Sometimes it is a simple fix, sometimes it needs more digging, and slower action. My journey has definitely been the “more digging and slower action” plan. Helping my clients discover their values around spending helps them feel better about their money and increases their likelihood of success! 

Schedule a free Q&A call with me and we’ll see what a shift in perspective could do for you!