10 Warning Signs You Need a Financial Management Coach

Don’t let your finances spiral out of control, work with a coach instead. Wouldn’t it be nice for your money to work for you – rather than you for it?

If you’ve ever found yourself wondering; “Where does all my money go?” or “Why does what I earn never quite seem to stretch as far as it needs to?” then you might want to consider coaching with a life or business coach who specializes in financial management.

Learning to manage your own finances is one of life’s most important skills, yet it’s not taught at school or even at university (unless you study accounting – and even then the focus is on managing other people’s money).

Some people seem to naturally develop the skills to budget and make their money work for them. Many others do not. Even those who find it easy can find themselves struggling during moments of major life change, such as redundancy or retirement. Poor financial management can turn a great life into one beset with endless problems.

Are your finances in a fuddle? Take this survey to find out

Here’s a quick check list of warning signs that might mean your finances are slipping beyond your control:

1. Do you ever find yourself struggling to pay the rent or the mortgage?    Yes    No
2. Do you shop for essentials, like food and clothes, with a credit card?    Yes    No
3. Do you only ever pay the minimum payment on your credit card statement when it comes due each month?    Yes    No
4. Are you slipping further into your overdraft every month?    Yes    No
5. Have you ever had to go without essential items because you can’t afford them?    Yes    No
6. Are you earning well but have no savings?    Yes    No
7. 7. Are you skimping on a pension plan/401K because it seems too expensive?    Yes    No
8. Have you got a safety net in case of unforeseen expenses – which could be anything from a broken household boiler to medical bills?    Yes    No
9. Are you living from pay cheque to pay cheque?    Yes    No
10. Are you living in fear of another bill hitting the doorstep?    Yes    No

If you answered Yes to two or more of the questions above, chances are you could do with the help of a life coach to get some sound financial management coaching.

The Good News

The good news is that learning to manage your finances doesn’t have to be hard work. You don’t need to become an accountant, and you don’t need a degree in mathematics to make your money work for you.

Working with a financial management coach enables you to understand your own priorities. You will discover what expenses are essential in life. You’ll learn how to make a budget. You’ll decide for yourself to commit to your budget. You’ll decide what you have to do if you need to take emergency action if things have gone completely out of control.

Taking control of your finances means gaining control of your life. It’s a path to happiness and contentment. You’ll stop worrying about the future, because you will define your future, you’ll choose an easier life, you’ll know how to make your money work for you and how to ensure that your values in life stay protected too.

Choosing to work with a life or business coach about your financial management issues means choosing to focus on what matters to you, so that you can be free of stress.

Food for thought:

• If you found this checklist helpful, what other items do you think should be on it?
• If you’re worried about your finances why not share what’s bugging you below?
• Equally if you’ve had a great experience developing your own action plan with a life or business coach, why not share it and help inspire others to take the plunge?