7 Reasons to Consider Financial Coaching ServicesDecember 15, 2021 December 15, 2021 /
Why should you consider financial coaching? According to the National Society of CPAs, 77% of Americans are experiencing financial worry. If you feel that you are a part of that 77%, then it is time to do something about it. The fact is, managing one’s finances is a complex and time-consuming undertaking. That’s why it is important to seek out the help and expertise that you need to make better financial decisions.
That’s where financial coaching comes in.
Think of a financial coach as a sort of “personal trainer” for your money. A good financial coach will put you on a path to financial prosperity while helping you avoid the “money traps” that lead to lifelong trouble many other people experience. Here’s a look at seven reasons why you should consider financial coaching services.
1). Get Unbiased Advice About Your Finances
A financial coach is going to be able to give you the best advice based on your needs. Contrast that with the thousands of brokers, lenders, and credit card companies who could potentially steer you down the wrong path for their own selfish gain. Your financial coach will be able to advise you on the best path to take with your finances.
2). Takes the Worry About Your Finances
Between your work life, family life, and social life, you don’t also need to worry about your financial life. A financial coach will be able to assist you with any money issues that you may have. For instance, if you have thousands of dollars of high-interest debt, a financial coach can help you find the best way to deal with that debt.
3). Learn the Best Strategy for Your Situation
Someone who is two years out of college with lots of debt is going to be in a different financial situation than someone who is two years away from retirement with a seven-figure portfolio. A financial coach will be able to tailor a custom financial plan to each person’s individual situation. As your life situations change, a financial coach will be able to adjust your financial strategy to help meet your goals.
4). Helps You Find the Best Opportunity for Your Money
There is a saying that there is an opportunity out there. Since you are busy with your everyday life, you may not be able to spot those opportunities. A financial coach will always have their “ear to the ground” of the finance world and they will be ready to help you seize opportunities to save you money or build your wealth.
What type of opportunities can a financial coach find for you? A financial coach may be able to recommend that you refinance your home at a lower rate, diversify your portfolio into a booming market, or simply take advantage of a savings account that’s paying a higher average rate.
5). Helps You Stay Accountable
A financial coach will also help you stay on the right path when it comes to paying down your debt, saving money on a regular basis, and maintaining your budget. Much like a personal coach who ensures that you eat right and exercise, a financial coach will ensure that you continue to do the right things with your money.
6). Prevents You From Doing Something Foolish with Your Money
Impulse spending, speculative investing, and gambling. There are some of the common bad habits that can destroy one’s finances. A financial coach will be able to help keep you focused and prevent you from developing bad financial habits that can sabotage your path to sustainable wealth.
7). Have a Plan to Help You Reach Your Financial Goals
Everyone should have financial goals. Your goal may be to accumulate $1 million in investable income in 25 years. Perhaps you would like to save up for a house by the time you are 30. Maybe you just want to get rid of your credit card debt? These financial goals require a well-thought-out plan. A financial coach will be able to craft a plan to help you reach your specific financial goals.
Creating a Faster Path to Wealth with Financial Coaching
Financial coaching is not just for the rich. In fact, there are many financial coaching packages designed for just about anyone. With a financial coach by your side, you will be able to make the most of the money you make which can allow you to be free of financial worry and have the freedom to enjoy the fruits of your labor.
Learn more about how financial coaching can work for you. Visit Fiology’s financial coaching services page and discover your new financial coach. You’ll find affordable financial coaching packages that can help you reach your financial goals the smart and proven way.