This is a question I get asked every now and again.  Most people instantly “get it”…

 

But oftentimes, I get this question from people who are already good with money.  They don’t understand the need.

 

These are not my clients.

 

What I’ve come to understand after coaching people with their internal financial challenges for over 9 years and clocking thousands and thousands of hours of coaching on this subject….

 

Some women benefit more from financial coaching than others.  Some should definitely hire one! And I enthusiastically encourage people I really think would benefit to hire me.  And then others I know won’t benefit much.  And I tell them so, give them other resources and leave them feeling more clear as to what to do next.

 

And then there’s circumstances where you absolutely SHOULD NOT hire a coach.  Even the best most fabulously effective coach with a great track record (like me. 🙂 )

 

How to tell?  Well here are some general guidelines…

DO Consider Hiring A Money Coach Under the Following Circumstances:

  • You are earning money.  You have at least once source of dependent income you can count on (You work a job, the pay is consistent, you can pretty much count on that paycheck.)
  • You are a business owner or solopreneur.  Financial coaching is a PERFECT fit because your whole job as a business owner is to maximize profits and minimize expense so that you turn a PROFIT.  Financial coaching helps you to increase your value in the marketplace while reducing expenses to create a lean, profitable business machine.  (Sorry for that terrible cliche.)
  • You are in sales and work on commission. Financial coaching is also a great fit because a coach can help you with variable income swings and help you to track your cash flow, while also keeping tabs on your sales activities. — All which directly affect your bottom line. (I do not mean MLMs in this case.  I mean traditional sales roles, here.)
  • You are a high earner with little to show for it in terms of savings or investments.  Many of us spend so much time focusing on climbing the ladder, that we forget to pay attention to our finances.  We end up spending like we’re still in our 20s, when our income and lifestyle has changed dramatically.  Financial coaching can help you to upgrade your philosophy around money, install new more empowering habits that will help you maximize the money you earn.
  • You are an aspiring entrepreneur/business owner.  If you are running a business on the side, financial coaching is a great tool to help you shift out of “employee” thinking to a more entrepreneurial lens.  Coaching helps you to get comfortable charging what your products and services are worth so that you can support yourself financial if or when you decide to leave the corporate gig.   The thinking that makes you a successful employee makes you a TERRIBLE entrepreneur in many ways.  Financial coaching can help you to reverse your thinking, create new empowering ways to charge what you’re worth and support yourself financially through the business.

 

DO NOT Hire A Money Coach Under the Following Circumstances:

  • If you have no money coming in, financial coaching makes virtually no sense.
  • If you have poor credit and your sole focus is to improve your credit without changing your money habits.  Credit is almost like a red herring in the money game.  We get so obsessed and caught up with the score that we forget about the bigger picture.  Great credit allows you to take on more future debt at slightly lower interest rate.  Which may or may not be necessary. But that’s all  it does. It’s not your self worth,. it’s not a test score, it’s not your net worth. Your daily habits with money are FAR more important to focus on than a credit score, trust me.
  • If your finances are co-mingled with a partner or spouse that is not on board with changing or getting help.  You may want to explore the underlying issues in your marriage first,  instead of putting a budget together.  The partner will most likely self-sabotage your efforts.
  • If you’re deeply in consumer debt (NOT student loan debt) with no skills or abilities to earn more, financial coaching will not be helpful.
  • You have no intention of slowing your spending down and believe that a magic check is going to fall out of the sky and “save” you from your financial problems.  Come on’ now.  We all know that ain’t gon’ happen. 🙂

I hope this helps you get a clearer picture for what YOU need to make changes with your personal finances.

If, after reading this, you DO think it might be worthwhile to explore working together to reach your financial goals…

Then you should request a private, confidential session with access to me.

 

To apply for your session…

 

 

Click the button below now.

 

Apply for A Complimentary Session

 

PS – There’s no “sales ambush” at the end of the call, btw.  Yes this is how I get clients but my only intention on the call is to see if I can help and give you some initial insights into what you should do next.