What A Financial Wellness Coach Will Help You Do

Financial Wellness Coaching is a way of helping individuals to improve their relationship with money and to guide them towards their financial goals. Depending on your needs, a Financial Wellness Coach can guide people who have problems setting a budget to ensure they manage their income and expenses wisely and align their values with their spending. A Financial Wellness Coach can also increase financial literacy to give you the confidence to invest and build a plan for wealth creation.  

Essentially, financial coaching is about educating and guiding people on money management.

A Financial Wellness Coach provides you with guidance on:

Budgeting & Saving – A Financial Wellness Coach will assist clients who may have a tough time making a budget or managing their finances. They also ensure their clients practice saving as this will help grow their wealth.

Investing – Financial Wellness Coaches teach you two major ways to make money: actively and passively. Active earning involves working for your money, while for passive earning, your money works for you through returns on stocks, real estate, etc.

Insurance – A Financial Wellness Coach will also discuss with you the importance of protection as a key part of any financial plan, and guide you through the different types of insurance coverage available. Without adequate protection, your family could face significant hardship if you or your partner dies or becomes ill unexpectedly. 

Retirement Planning – A Financial Wellness Coach will help you identify how you envisage living in your retirement, and help create a plan to help you get there. The amount you should save will depend on the age you wish to retire, your lifestyle and your values. The earlier you start saving, the more you will have to enjoy retirement.

Estate Planning – An estate plan is an important aspect of any financial plan. Whether you are single, married with kids, below thirty, over sixty, or have a minimal or large net worth, an estate plan ensures your assets are allocated as you wish if something happens to you.

Financial Wellness Coaching will:

Create Goal-driven Strategies – No matter the financial situation you find yourself in, goal-setting is the key to better money management. We all want to throw our extra money towards savings and retirement, but we have short and long-term needs that can’t be ignored. A Financial Wellness Coach will help you identify your short term and long term goals and help you develop a clear roadmap on how to get there. 

Speak your Language – Your coach will always use simple everyday terms to make comprehension super easy for you.

Ditch the Confusion – Confused about whether to invest, save or what to invest on? At a loss what business to go into? Financial Wellness Coaching aims to bring you clarity.

Put you in Control – Your coach will increase your financial knowledge on managing your finances and guide you towards your financial goals. Ultimately, enables you to feel confident, in control and empowered.

Financial Wellness Coaching won’t:

Stop you from spending – Your Financial Wellness Coach won’t tell you to stop spending, but they’ll guide you to align your spending with your values to ensure you’re prioritising what’s important.

Make you rich quick – Having a budget or spending plan is one important step towards financial wellness because it acts as a guide for your money management. Financial Wellness Coaching helps you to achieve your financial goals, though it won’t make you rich quickly.

Deliver a cookie-cutter approach – Although financial wellness should be an important concept for every individual, it can’t be solved using cookie-cutter solutions. Everybody is different, each with unique financial issues. Financial Wellness Coaching acknowledges this fact and will never try to shove you into a generalized approach that doesn’t consider your unique situation.

To find out more about Financial Wellness Coaching, please book an introductory call with our Financial Wellness Coach who can guide you through the process of finding out your money goals for the future of your family.