What is a Financial Coach?
Just like there are coaches for movie stars, musicians, and athletes, there are also coaches available to help you with your personal and business finances. This person can teach you the why and how to save, invest, eliminate debt, give, and be financially independent.
A financial coach is not a financial counselor. A counselor is typically someone who focuses on fixing issues from the past. A coach, on the other hand, is someone who spends the time to learn and understand how you got here, but focuses on helping you get to where you want to go.
A financial coach is not a financial planner, although they are very close. According to www.dictionary.com, financial planning is “the devising of a program for the allocation and management of finances and capital through budgeting, investment, etc.” A financial coach can help develop a cash flow plan (budget) and teach you the basics of investing. However, a financial coach does not sell any investment products.