Have you ever caught yourself thinking:
- “I don’t really understand personal finance.”
- “I wish I had a plan for my money, but I don’t know where to start.”
- “I feel like I make money, but where is it going?”
Or, maybe money just feels stressful and heavy, like it’s controlling you instead of the other way around.
If any of that sounds familiar, you’re not alone. This is exactly where a financial coach can help.
A financial coach walks alongside individuals and couples to support them in making sense of their money, creating a plan, and reaching goals. A good coach will show compassion, empathy, and care to their clients rather than judgment.
What Does a Financial Coach Do?
Practically, a financial coach can:
- Help clients create a budget, or advise about an existing budget
- Guide financial goal-setting and support clients in making plans (for example, plans for paying off debt or for saving for a house)
- Provide education about healthy money habits, debt reduction, and practical financial strategies
- Encourage open communication about finances for couples
- Provide accountability
- Assist clients in refining their goals and visions by honing in on the “why” behind their money choices
- Serve as a steady guide and encourager while clients tackle financial obstacles, struggles, and goals
Standalone or single sessions can be helpful, but financial coaching is typically more effective over several sessions. Monthly coaching sessions are common, though clients may need more frequent sessions at the start of the coaching relationship. Often, financial coaches meet with clients for at least 3 months, as this is, on average, how long it takes to form new financial habits. Some clients prefer ongoing support or come back for more coaching sessions later on.
What a Financial Coach is Not
There are some important distinctions when it comes to what a financial coach is. Terms like “financial coach,” “financial advisor,” and “financial planner” are often used interchangeably but are different in their roles and purposes. In general, financial coaching is more focused on your behaviors related to your money while financial advising is more focused on the behavior of your money. Financial advisors often work with investments and retirement.
Grace & Growth Financial Services does not provide financial advisor services and will not offer investment advice.
Who is Financial Coaching For?
Financial coaches work with a variety of individuals and situations. Examples include:
- Those feeling overwhelmed by money stress
- Couples who don’t feel they’re on the same page with money
- People who feel they “make a good income” but don’t know where it’s all going
- High school or college students preparing to make important financial decisions
- People in the middle of or just coming out of a big life transition
- Anyone wanting more confidence and direction in their personal finances
Some coaches tend to specialize in one type of client or situation (for example, clients who are single mothers or clients struggling with bankruptcy). At Grace & Growth Financial Services, financial coaching is led by Morgan. Morgan is a certified financial coach who works with individuals and couples seeking greater clarity and confidence in their finances. She is especially passionate about practical budgeting strategies and supporting clients as they work toward paying off debt so they can experience more peace and fullness in their lives.
What to Expect at Grace & Growth
At Grace & Growth Financial Services, we offer a consultation before getting started with financial coaching so that both the coach and the client can determine whether it is a good fit. Morgan offers this first, 1-hour consultation session for free. During the consultation, Morgan will take the time to understand your financial situation and will explain and answer questions about financial coaching. If you’re interested in financial coaching and want more clarity and confidence with your money, we’d love to connect.