{"id":4778,"date":"2013-12-13T06:03:32","date_gmt":"2013-12-13T06:03:32","guid":{"rendered":"http:\/\/centerforcoachingcertification.com\/coachingblog\/?p=4778"},"modified":"2023-05-22T18:34:49","modified_gmt":"2023-05-22T18:34:49","slug":"coaching-on-budgeting","status":"publish","type":"post","link":"https:\/\/www.coachcert.com\/coachingblog\/coaching-on-budgeting\/","title":{"rendered":"Coaching on Budgeting"},"content":{"rendered":"

\"Coaching<\/a>Coach Andrea was asked by a client, David, to work with him on money management<\/a>.\u00a0 Sometimes coaches hesitate to tackle this area.\u00a0 Some coaches say they’d are not financial planners so it is inappropriate.\u00a0 Other coaches cite a lack of experience.\u00a0 Trained coaches<\/a> realize that all clients deal with money and managing money.\u00a0 In the Certified Master Coach class at the Center for Coaching Certification<\/a>, money, budgeting, and financial statements are discussed.\u00a0 The bottom line is that sometimes money management is a barrier for people doing what they want, including hiring a coach or retaining a coach.<\/p>\n

A coach is not a financial planner and does not give advice.\u00a0 The client<\/a> is their own best expert.\u00a0 It absolutely makes sense that a coach understands budgeting and financial statements.\u00a0 Clients deal with personal budgets, many write parts or all of a budget at work, and many read financial statements.<\/p>\n

How does a coach co-create tools for budgeting with a client?\u00a0 The coaching relationship between Andrea and David provides one possibility.\u00a0 David wanted to start with his personal budget.\u00a0 Andrea set up a spreadsheet and asked David about his expenses.\u00a0 Andrea and David sorted these into fixed expenses (a set amount each month), variable expenses (a monthly expense that varied so the budget was an approximate or average), and periodic expenses (occurring quarterly, semi-annually, or annually).\u00a0 Then Andrea asked David how often he wanted to pay bills and note expenses.\u00a0 David decided that once a week worked best for him.\u00a0 In the spreadsheet, Andrea set up a column for each week of the month, a column with a monthly total, and a column with the difference between the planned budget and the actual expenditures.<\/p>\n

Together David and Andrea co-created a budgeting tool.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coach Andrea was asked by a client, David, to work with him on money management.\u00a0 Sometimes coaches hesitate to tackle this area.\u00a0 Some coaches say … <\/p>\n","protected":false},"author":1,"featured_media":4779,"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":[70,77,48,50,55,81,88,102,115,74,79,107],"class_list":["post-4778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tools-and-techniques","tag-achieve-and-sustain-excellence","tag-client","tag-coach","tag-coaching","tag-coaching-services","tag-coaching-success","tag-effective-coaching","tag-goal-setting","tag-icf-approved-coach-training","tag-plan","tag-skills","tag-strategy","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