{"id":3957,"date":"2013-04-26T06:03:07","date_gmt":"2013-04-26T06:03:07","guid":{"rendered":"http:\/\/centerforcoachingcertification.com\/coachingblog\/?p=3957"},"modified":"2022-09-18T18:31:37","modified_gmt":"2022-09-18T18:31:37","slug":"coaching-is-a-tool-for-money-management","status":"publish","type":"post","link":"https:\/\/www.coachcert.com\/coachingblog\/coaching-is-a-tool-for-money-management\/","title":{"rendered":"Coaching is a Tool for Money Management"},"content":{"rendered":"

In coach training<\/a>, there is often a big discussion around money coaching.\u00a0 Given that a coach is not an advisor, coaching around money consists of asking the client about their goals, barriers, strategies, and action steps.\u00a0 The coach serves to create awareness for the client through full exploration.\u00a0 The action plan may be basic or it may include the client working with a financial planner.<\/p>\n

On a basic level, money coaching includes budgeting.\u00a0 A coach will ask the client questions that help them create their budget and track their spending. \u00a0Then the coach works with the client to compare their plan with their actual and from there have the client choose what changes they want to incorporate.\u00a0 The budget includes fixed, variable, and periodic expenses.\u00a0 A coach may work with a client as they list their debts and choose their plan for paying everything.\u00a0 By working with a coach, the client thinks through what is happening now, what they want to have happening, and how to make changes.<\/p>\n

If a client wants to discuss investments, a coach asks them about their process for finding a financial planner, researching opportunities, and their timeline for making decisions.\u00a0 A coach is very different from a financial advisor and ensures the client knows the difference in the roles.<\/p>\n","protected":false},"excerpt":{"rendered":"

In coach training, there is often a big discussion around money coaching.\u00a0 Given that a coach is not an advisor, coaching around money consists of … <\/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":[40],"tags":[70,77,75,67,55,49,88,102,115,63,103,74,87,79,107,76],"class_list":["post-3957","post","type-post","status-publish","format-standard","hentry","category-tools-and-techniques","tag-achieve-and-sustain-excellence","tag-client","tag-coaching-agreement","tag-coaching-niche","tag-coaching-services","tag-code-of-ethics","tag-effective-coaching","tag-goal-setting","tag-icf-approved-coach-training","tag-niche","tag-opportunities","tag-plan","tag-professional-coach","tag-skills","tag-strategy","tag-understand","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