{"id":3431,"date":"2012-06-11T06:03:44","date_gmt":"2012-06-11T06:03:44","guid":{"rendered":"http:\/\/centerforcoachingcertification.com\/coachingblog\/?p=3431"},"modified":"2022-09-18T19:30:59","modified_gmt":"2022-09-18T19:30:59","slug":"coaching-and-money","status":"publish","type":"post","link":"https:\/\/www.coachcert.com\/coachingblog\/coaching-and-money\/","title":{"rendered":"Coaching and Money"},"content":{"rendered":"

What is it that prevents people from talking about money comfortably?\u00a0 For many people the reason is cultural \u2013 money is a subject that is considered too private or personal.\u00a0 Other reasons include a lack of knowledge or personal financial struggles.\u00a0 At the same time, money is an important topic in coaching<\/a> because it impacts attitude, stress levels, and decisions.<\/p>\n

What happens if the coaching client is uncomfortable talking about money?\u00a0 If a client is managing their budget, the impact is negligible or indirect.\u00a0 If a client is struggling financially, it impacts how they function and what they accomplish.\u00a0 If the client is the one paying for coaching, it may mean discontinuing services regardless of the benefits.<\/p>\n

What happens is the coach is uncomfortable talking about money?\u00a0 Potentially the coach is simply \u2018unavailable\u2019 to discuss an important topic.\u00a0 This could have ethical implications and it could impact effectiveness of the coaching process.<\/p>\n

How do you become comfortable talking about money during coaching sessions?\u00a0 As the old saying goes, knowledge is power.\u00a0 The basics to managing money include five simple steps:<\/p>\n

    \n
  1. Know what is coming in and when, and then knowing what is going out and when.<\/li>\n
  2. Track everything you spend \u2013 this is easier with checkbooks and credit cards and more challenging when it comes to cash (keep a register just for cash).<\/li>\n
  3. Plan your spending for fixed, variable, and periodic expenses, then compare the plan with the actual so you can choose what you want to adjust the next month.<\/li>\n
  4. Save for emergencies, periodic expenses, and big purchases.<\/li>\n
  5. Set goals around what you want and when you want to achieve it.<\/li>\n<\/ol>\n

    As a coach, educate yourself on money and tools for managing money.\u00a0 For example, in the Certified Master Coach<\/a> class this is discussed and tools are provided so that the coaches are more prepared when discussing money makes sense for their coaching clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

    What is it that prevents people from talking about money comfortably?\u00a0 For many people the reason is cultural \u2013 money is a subject that is … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16,40],"tags":[48,50,55,81,88,51,84,87,79],"class_list":["post-3431","post","type-post","status-publish","format-standard","hentry","category-coaching-stories","category-tools-and-techniques","tag-coach","tag-coaching","tag-coaching-services","tag-coaching-success","tag-effective-coaching","tag-excellence","tag-goals","tag-professional-coach","tag-skills","latest_post"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\n\t\t\n