Financial coaching is a strategy to develop a healthy relationship with money. It is not only about making or saving money, but rather about understanding your needs and wants, without judgement, establishing your goals and setting the behaviours necessary to reach them.
Like a personal trainer who helps you understand your relationship with food and exercise, creates strategies to prevent your natural desires from derailing your efforts and encourages you to stick to your plan, a financial coach does the same for your finances.
Even if one knows enough about budgeting and finance, when it comes to our own personal spending, saving and investment decisions we are victims or our own blind spots and behavioural biases (such as fear of missing out and following the herd, or procrastination and sticking to the familiar), and we may end up making choices or plans that do not align with our values and innermost aspirations, leading to frustration and stress. A financial coach will work with you to understand your real values, your natural motivations and biases, and to come up with a plan that you can stick to and quickly see results from, in a process that you can not only understand and follow, but also enjoy.
Financial coaching, therefore, is for anyone who is ready to see money as a resource to be managed and deployed to enhance your well being, rather than something to pursue or worry about.
Although we each have our personal inclinations and biases when it comes to our financial decision making, some patterns do emerge among women, especially when we become part of a nuclear family, with or without kids.
We may feel that either we take too much responsibility, or that we are giving up our financial independence - and striking a balance in which we feel comfortable may be a challenging task.
Moreover, if statistics is anything to go by (and it should be!), women are likely to outlive their male life partners, and sooner or later they will see themselves with the results, good or bad, of decisions they may not have take part in. When it comes to claiming your voice in the decision process and taking accountability for your financial future in a stress-free manner, it is never too soon or too late to get started.
Visit our TOPICS page to see the important contents to be covered by financial education, accompanied by practical activities that can be explored at home.
And follow our blog for tips and advice on putting the learning in practice - from assigning chores to investing in the stock market!
Women have had an unjustifiably lesser role in managing family expenses and savings. According to official data (US Federal Reserve, e.g.) , men do not necessarily know more, but they often act more confidently.
Learn the tools you need to master to take a more proactive approach towards your own and the family's finances with both knowledge and confidence.
Contact us to learn about our group workshops and individual coaching sessions.
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