Budget Hater

Money Coach

Posted by Aaron Coleman
Apr 02, 2013

My official title at Winning With Money is President.   But I am thinking of changing it to Head Money Coach.  I have always enjoyed coaching.  It started back in college when I coached American Legion Baseball during the summers and my university rugby team during the spring and fall.   Once having kids, it really ramped up with baseball, soccer and football.  My dad was always my coach, so I guess it runs in my blood.

I was reviewing some personal finance blogs the other day and came across an article discussing the differences between a designated financial planner and a financial coach.  The article did a nice job in explaining the difference.  A financial coach is someone who helps people get organized and develop a solid foundation with their money.  The coach ultimately gets people in the right position to have a meaningful conversation with a financial planner, investment expert, real estate planner, etc…  It’s kind of like playing college football before being drafted to the pros.   College will help strengthen, condition and provide the necessary experience to be able to get to that next level. 

In my book, Winning With Money, I call these people at the next level, experts.  People with a vast amount of experience and expertise in their chosen field who can help you make wise decisions with your money.  I always counsel people to choose experts they can trust.  Experts that take the time to get to know you as an actual person: What is important to you? What are your goals?  What is important to your family?  What are your values?   What kind of legacy do you want to leave?

Financial coaches can play a powerful role in your life.  It’s easy to get frustrated with money.  I hear questions all the time: Why does there never seem to be enough?  Where is it all going?  Why can’t we get on the same page?    Often times, the fix is not complicated.  But it takes an outside perspective to help people see what is going on.  As a baseball coach, I will have kids approach me and ask why they are struggling to hit certain pitches.  It usually takes the observation of just a few pitches to see what the problem is.  And once explained to them, they understand and we set a course to solve the problem and get back on track. 

It is no different with our money.  Seemingly insurmountable obstacles and problems can often be overcome through the assistance of a financial coach.  It starts with taking the time to understand the problem and identifying what all the factors are.  It is tough to do that on your own.  A coach can recognize the issue, set a plan to overcome the problem and provide some tools and advice to help maximize your potential and set you on a path to financial freedom. 

I encourage you to seek out the assistance of a money coach in your life.  Taking the initiative can pay huge dividends in your future. 

Aaron Coleman

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