Enlist the Services of a Money Coach
Those who seek to enlist the assistance of a money coach to help improve their personal finances will do well to choose one of the NFEC’s highly-qualified coaches, Certified Personal Finance Consultants, are uniquely prepared to help you accomplish your financial objectives. Their nationwide coaching network is stringently trained and certified, and each coach exhibits a passion for helping others achieve greater financial health and wellbeing.
The main goal of an NFEC- money coach (Certified Personal Finance Consultant) is to offer guidance, education, and resources to clients who seek improved financial outcomes. Coaches have a committed interest in your success and can supply you with personalized training, education, and prioritized action steps; also providing accountability to keep you on track toward financial wellness and security.
What can you expect from an average money coach? The simple answer is “talk.” An NFEC coach, in stark contrast, has a huge array of services at his or her fingertips, all designed to help you increase your financial capabilities. We drew this conclusion via research to determine the offerings of an average money coach, conducting a Google search using the terms ‘financial coaching’ and ‘financial counseling.’ There were 137 websites in the first 50 pages of results, 26 of which outlined clear package and price information. We reviewed and analyzed the data from those 26 pages, finding that the top service being offered was coach contact (usually over the phone; occasionally by email).
The second most prevalent offering on the 26 sites reviewed was educational materials provision (courses, ongoing training, etc.). A small minority of sites had services including the development of a personalized financial plan, and only two offered re-planning and re-reporting based on adjustments and updated financial information. For comparison, please review the NFEC’s services in the following infographic.
Phase 1 requires your coach to understand all the factors affecting your personal finance profile, including your sentiments toward money and your goals and lifestyle needs for the future. The detailed written plan you receive will cover all aspects of your financial health and the coach will guide and support you throughout the process.
After your initial priorities have been addressed, you should have a strong foundation built for your personal finances and a clear plan to move forward. At this point your money coach can move into a more sideline role – one of maintenance and support. When you’ve achieved your primary objective your coach’s task is to step aside, let you carry on with your plan, and simply offer support when you need it.
Your coach will always be there for you when you require a little extra guidance; for example, at transitional life stages or when you experience a major life event. The coach will give you personalized reminders about deadlines you need to meet, timely reviews of specific financial information, and resources to support planning.