What is Financial Coaching?

Most people think they know what they are doing with their finances. Although according to market watch we spend on average about 70 times as much time a month watching TV as we do tending to our finances, a new study argues. The report, from financial site The Ascent — a site run by Motley Fool — crunches the numbers from the federal government’s own American Time Use Survey.”Typical time spent a month on budgeting, financial planning and the like: One hour and 12 minutes. That’s about two minutes a day.”

The average American will retire and have under $200,000 saved for retirement and will still have a mortgage, car debt, credit cards, and more than likely be paying on student loans wether it be theirs or their childrens. So, what does this have to do with financial coaching?

Our job as a financial coach is to understand were you are currently at and to help get you to were you need to be. Strategic planning throughout our sessions, along with follow-ups and resources needed to succeed will help pave the way. Why doesn’t everyone have a financial coach? Simple answer do you want to be everyone else or better said do you really want to just be average. The successful use coaches and mentors to help guide them through this thing called life.

“Without counsel plans fail, but with many advisers they succeed.” Proverbs 15:22 ESV