People argue that money can’t buy happiness and while this phrase has been debated over for decades, it cannot be denied that money can certainly buy you a life. Without it, you’re deprived of basic necessities every single person deserves to have. No matter how evolved humankind becomes, this five-letter word will simply never lose its importance.
Needless to say, everyone needs money! So, when it comes to money coaching, that too, is considerably essential for people across a spectrum. Shifting from one phase of life to the next deems the importance of secure money management. In that, people who are transitioning in one way or another greatly benefit from professional opinions.
We all live in our little bubbles, be it mediocre or extravagant, the level of myopia arising within these closely-knit environments leads to stagnancy. Thus, all individuals do well when they’re advised by those with experience.
As a certified money management coach, I have worked with clients with changing relationship statuses, those who are nearing retirement, moving to college, thinking about starting their business or changing jobs as well as people who suffer the loss of a loved one.
While money is essential for everyone, it’s even more important for people looking forward to a foreseeable change. Rest assured, marriage, stepping into adulthood, moving in with a partner, bidding farewell to a parent – all sanction an impact to your current money situation. Why? Well, that’s simply because money governs a person’s choices. It can completely change typically expected behaviors and my experiences in the industry are proof.
Over the years, I have coached a variety of individuals and it has been a journey filled with insight, to say the least. It’s no coincidence that people who seek my help are oftentimes caught up in a vicious cycle of bad financial decisions.
Some are dealing with the throes of a bad breakup and others are overwhelmed by the financial onslaught of having a child. In all these cases, emotions run strong and make them more likely to choose unwisely.
Similarly, people can also end up making the wrong decisions when they’re too excited. For instance, I’ve worked with people eager to quit exploitive jobs only to jump into businesses they know nothing about. Thus, a misleading sense of over-estimation driven by the urge to try something different can also be your downfall.
To elaborate, being at a crossroads is an inevitable part of life. Nobody can avoid change, regardless of how strong their resistance might be. If not now then later, you will be faced with an uncomfortable decision that involves money. But it’s not the question that matters, it’s how you choose to answer it! Without coaching, you’re more likely to go with the first – and oftentimes, worst – option at your disposal. Remember, things veiled in comfort might not be the most rewarding.
It’s imperative to step out of your comfort zone sometimes, and that’s what you learn from behavioral money coaching. The model allows you to ask questions that you might not have otherwise. It triggers a sense of self awareness, whereby, you’re likelier to take the right risk after evaluating its pros and cons with a clear head.
If you’ve been hardwired into a specific mindset that fails you in terms of finances, money coaching can be your way out of the rut! At the end of the day, we are a product of our experiences and controlled by our respective psychologies. That’s exactly why there are risk taking and risk aversive people in this world.
However, life is about adapting to change and embracing our own personality transitions in the process. Ask yourself this, are you the same person you were five years ago? Surely, the answer to this is no, and an obvious one at that. You can be one money archetype today and another tomorrow. From martyr to warrior to magician – it’s all about the journey and yours is made easy with the right type of coaching.
This is what I tell all my clients who come to their sessions, disappointed of the constant financial rebuttals they face on a day-to-day basis. Considering the volatile condition of the world today, I’ve worked with a long list of businessowners who either lost their income to the pandemic or were eager to profit off of it.
This is in addition to countless young adults desperate to move out of the ‘innocent’ phase and eager to grasp whatever semblance they could of financial independence. These people are more than just examples on a screen, they are a concoction of their experiences guided by the power of money coaching and sheer determination to transform their life.
Watching my clients go from drastically regressive points in their journey to holistically impressing ones has been bewildering. Despite the variances in situations, archetypes and personalities of the people I work with, my coaching mantra has always been the same.
I ask meaningful questions that encourage them to understand their own perspectives and identify the fallacies leading to failure. This is topped by different mental exercises as well as immersive discussions that get to the root of the problem and undo mental blocks. Through patience and guided expertise, I pave their path to financial improvement, teach vital skills to help them get through difficult times and foster a mindset that boosts their growth regardless of complexities.