“Financial literacy begins the process of earning more for what you know and less for what you do.”
-Linsey Mills
The Process of Financial Coaching
Assess Current Finances: Review your financial situation, including income, debts, expenses, and savings.
Set Clear Goals: Whether it's building an emergency fund, paying off debt, or saving for a major purchase.
Create Action Plan: Based on the assessment and goals, we will work together to create a realistic and actionable plan to address your financial challenges and achieve your goals.
Educate and Empower: Help you understand financial concepts and empower you to make informed decisions.
Provide Ongoing Support: Follow-up sessions are used to track progress, offer additional guidance, and make adjustments to the plan as needed.
Financial coaching helps individuals track their income and expenses to ensure they live within their means, maximize savings, pay down any debt, and feel prepared for the future financial situations.
Financial counseling isn’t just about budgeting, debt management, and saving—though those are key areas.
Credit Repair: improve credit scores by addressing negative marks on credit reports, offering advice on how to make timely payments, and helping to understand credit scores and reports
Investment Accounts: educate about the differences and help in the process of opening them
Taxes: provide an overview about how taxes work and explain tax laws that may be relevant
Insurance: review and educate about current health, car, and life insurance policies
Retirement Planning: review pensions, 401ks and certain calculations, social security education
Student Loans: help applying and understanding the process or managing current student loan debt
Estate Planning: ensure estate is organized and offer recommendations for improvement.
Emergency Fund Building: create a plan for building an emergency savings fund to protect against unexpected expenses
Housing: homeownership issues, including things to consider when deciding to purchase a home, foreclosure prevention or renting challenges
Employment: review and understand paycheck, benefits, and the key factors to consider when comparing job offers
These areas, alongside budgeting and saving, work together to create a comprehensive approach to improving your financial well-being.