How is money a factor for coaching clients? In addition to the obvious answer of coaching being an investment of money, many decisions clients make are influenced by having or not having funds available. As a great example, people deciding to enroll in coach training often make the decision based on money. It makes sense for coaches to be aware that money is a factor whether or not it is discussed.
How appropriate is it to talk about money during coaching? Occasionally during coaching certification participants will say, “I am not a financial planner.” So true! Financial planners have specific expertise and they give advice – very different from being a coach. At the same time, coaches do work with clients on budgeting, processes for working with their financial statements, and to explore implications or options for financial management.
What happens if the coach is uncomfortable? Then it is up to the coach to figure out how they will effectively serve the client. Being uncomfortable is absolutely ok. Failing to be present and empower the client is a problem. For this reason, during master coach certification we talk about money, money management, plus tools and resources.
Educate yourself on money – as a coach this helps you help yourself and it prepares you to effectively partner with clients.