Should I Hire a Financial Coach?
This is similar to asking, “Do I need to hire a plumber, a mechanic, or a handyman?” We tend to call on these professionals when something is not working, or when we need maintenance done. You should hire a financial coach when your current plan is not working or when your plan needs some adjustments. Ask yourself these five simple questions:
1. How is my current plan working for me?
If you answer is “not great,” you will benefit from working with a coach to design a need- and value-based budget plan that will work for you. A budget helps you stay focused and builds awareness. It gives you permission to spend money on things that you value most in life. It you want Starbucks every day, you can have it by planning for that purchase and eliminating waste from your budget. You should not feel restricted by your plan, but empowered. You are in charge of your written budget. You gain control over your decisions about money.
2. Am I losing sleep over money stress?
Many people are in the same situation. If you are losing sleep over worry and stress, it is TIME to get help!
3. Do I find it difficult to stick to my plan?
A coach can help you stay on track through monthly support and encouragement, especially if you are feeling like you are failing. A good coach is going to point out what you are doing well and teach you how to be successful.
4. Am I arguing with my spouse over money?
If yes, reach out and get some help. Contact a coach or counselor who can support you and your spouse. Disagreements over money is a leading cause of divorce. Get help!
5. Do I want to live without debt and have money in savings?
You can have this! You need tools and perseverance. Imagine life without payments and the peace of mind that will bring you. This is where my husband and I are in life. It is great!
So, do you need a coach? Did any part of this blog hit home with you? Are you ready to get in control of your money? Are you willing to follow a plan? Are you saying “yes” to these questions over and over again? Then yes, a financial coach is a wise decision.