FREQUENTLY ASKED QUESTIONS
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01 / What is money / financial coaching?
Money coaching involves guidance and support provided by a financial expert to individuals seeking to improve their financial well-being. It includes helping people identify and understand their financial goals, offering practical strategies, and addressing emotional aspects related to money management. Whether it’s providing information, minimal guidance, or substantial support, money coaching aims to empower individuals to make informed and effective financial decisions.
02 / How is a money coach different to a financial advisor?
A money coach primarily addresses behavioral and emotional aspects of money management, focusing on changing attitudes and habits. They provide holistic guidance, often with a coaching-oriented approach. In contrast, a financial advisor offers specific advice on financial products, investments, and long-term financial planning. Financial advisors adhere to industry regulations, often requiring specific certifications, and maintain a professional advisory relationship.
03 / How does money coaching work?
Money coaching is a personalized process aimed at helping individuals achieve financial goals by addressing both practical and psychological aspects of money management. It involves assessment, goal-setting, behavioral analysis, education, and the development of customized strategies. Money coaches offer support, encouragement, and regular check-ins to empower individuals to take control of their finances and develop healthier financial habits. The process is iterative, adapting to changing circumstances and evolving goals. Overall, money coaching focuses on creating a positive and educational environment to foster lasting financial change.
04 / What are your qualifications?
I hold an Advanced Diploma in Life Coaching, reflecting my commitment to providing comprehensive support to individuals beyond financial matters. This certification enhances my ability to understand and address the emotional and psychological aspects of my clients’ lives. By combining my financial expertise, as demonstrated by my current studies in the Diploma for Financial Advisors (DipFA) at the London Institute of Banking & Finance, with advanced coaching skills, I am well-equipped to guide clients towards achieving both their financial goals and personal well-being. This dual qualification allows me to offer a holistic approach to empower individuals in navigating life’s challenges and making informed decisions.
05 / Who would benefit from money coaching?
Money coaching is beneficial for a diverse range of individuals, including those with specific financial goals, facing financial challenges, young professionals, couples, entrepreneurs, career changers, those seeking financial literacy, people going through life transitions, and pre-retirees or retirees. It offers personalized guidance to enhance financial well-being, address challenges, and navigate various life stages, combining practical financial expertise with behavioral and emotional support.
06 / Can you tell me what I should invest in?
While I can provide general information and education on various investment options, it’s important to note that as a money coach, my role is to educate rather than provide specific investment advice. Unlike financial advisors who offer personalised recommendations and manage investment portfolios, a money coach focuses on empowering individuals with financial knowledge and fostering healthy financial behaviors.
As a money coach, I can offer guidance on understanding different investment vehicles, risk management, and developing a strategy aligned with your financial goals. I can help you explore investment basics, such as diversification, asset allocation, and long-term planning. While I won’t recommend specific investments, my goal is to equip you with the knowledge and skills to make informed decisions and work towards achieving your financial objectives.