What is financial coaching?

PEOPLE SEARCHING FOR financial advice may run across the terms financial coach or financial advisor and may not realize the services and costs of these two financial service providers are indeed different. Which is right for you right now? 


Financial coaches help people struggling with their budgeting, understanding credit, among other money issues such as debt management or debt reduction plans. Maybe the opposite, creating habits and mindset to become a millionaire or retire early. A personal finance coach helps guide people of different situations to not only financial freedom but to a secure financial future. Financial advisors help people with investing advice – how to plan and invest.

Financial coaches only offer advice and aren't licensed to sell investment products. People seeking a financial coach should review the person's credentials. This type of guidance and expertise is a new approach.  Something different, in our opinion, than Dave Ramseys programs. Financial Peace University is a great starting point. Often times people want one on one personalized guidance. Now it exists. Budgeting is oftentimes to pitfalls of the mental health challenges that come with money. A coach will focus on mindset, goals, and the "how to" start living one's desired lifestyle. 

Note, there are absolutely players out there who are calling themselves coaches without coaching credentials. Ask the question, how did you get your certification, what made you decide to do this, what's next? In your free consultation or information session, remember you're researching for a service. Don't be naive, the coach is researching you too. 

“Tell me and I forget, teach me and I may remember, involve me and I learn.” - Benjamin Franklin

Hate budgeting? Check out this no budget money management system.