What Is a Financial Coach, and What Do They Actually Do?

What Is a Financial Coach, and What Do They Actually Do?

A financial coach helps you organize and understand your money so you can make informed decisions about what you want it to do.

In my work, that means helping clients build a financial system they can use in their actual lives. It also means talking through the decisions, questions, and emotions that come up once they begin using it.

Before each virtual meeting, I review my client’s notes, goals, and the money tools we’re using together, usually YNAB. From there, every call is different.

One client might have a financial system that’s running smoothly. We’ll make a small adjustment as her life changes, then spend most of the conversation discussing her next business launch. How many clients can she serve in her 12-week program? What would that income make possible? Does the business model support the lifestyle she wants?

My next call might be more hands-on. A client needs to complete a financial document, so we’ll import historical data and organize it in a way that helps her see past spending patterns while planning for the future.

With a new client, we might map how money moves from her rental properties into her LLC and what it needs to do before a portion reaches her personal bank account. She wants to see the whole picture, and we’re building a way for her to do that that makes sense to her.

Some days, I’m showing someone which buttons to push so their money plan reflects a change. Other days, we’re talking about how a financial decision they want to make will impact upcoming months. Both are part of financial coaching and play a big role in meeting future financial goals. We are always looking through a lens of creating margin to make long-term wealth-building possible.

Who Works With a Financial Coach?

Many of my clients make good money. They may have savings, successful businesses, or professional support. Behind the scenes, though, they still feel uncertain about what their money is doing.

They might know how much is in the bank without knowing how much is available to spend. They might be keeping track of bills, taxes, savings goals, business expenses, and future plans across several accounts, apps, spreadsheets, and their own head.

They come to me with questions like:

• How much can I pay myself from my business?

• Can we afford this purchase without affecting our other plans?

• How do I plan when my income changes every month?

• How do I set aside money for taxes and upcoming expenses?

• Why do I still worry about money when I earn a good income?

Some have read the books, listened to the podcasts, and tried several financial apps. They have plenty of advice. They need help figuring out what applies to their life and putting it into practice. I help them see their money so clearly that, eventually, they can answer these questions themselves.

What Do We Work On Together?

We start by looking at your full financial picture: what comes in, what goes out, what you’ve set aside, what’s coming up, and what you want your money to support.

Then we organize that information in a way you can use.

If your income is irregular, we might work out what a large payment needs to cover before the next one arrives. If you own a business, we might separate business and personal finances, plan ahead for taxes, and make owner’s pay more consistent. If you’re approaching retirement, we might take an annual spending recommendation from your financial advisor and build a way to use it in everyday life.

The details look different for each person, but the goal is the same: you can see what your money is doing and make decisions with that information in front of you.

Say you want to take an extravagant vacation. If you can see that your emergency savings, investments, tuition payments, and upcoming bills are covered, you can choose to spend that money without wondering whether you’re creating stress for yourself later. A luxury vacation feels different when you know the other things that matter to you are covered.

If the money isn’t available yet, you can see what would need to change. Maybe the vacation matters enough to adjust another goal. Maybe it doesn’t. Either way, you understand the tradeoff, and the decision is yours.

There’s room for more than numbers in these conversations, too. Sometimes a client shows up worried about money and needs a listening partner who can help them recognize their progress. Sometimes they’re excited about an idea or an adventure and want to begin funding it. We make space for both.

How Is a Financial Coach Different From Other Financial Professionals?

A financial advisor may recommend investments or manage a portfolio. A CPA can provide tax guidance and other specialized support. A bookkeeper organizes business transactions and produces reports from previous months.

My work focuses on helping you understand your financial information and use it to make decisions in your day-to-day life and business. I meet with ongoing clients regularly, usually weekly. That gives us dedicated time to focus on their finances and talk through decisions as they come up.

I don’t manage investments or sell financial products. I help clients build a strong financial foundation, make room for goals like investing, and feel more confident working with the other financial professionals in their lives.

What Does Working Together Look Like?

Every new client begins with a Financial Breakthrough Session.

Before we meet, you’ll complete guided prep work about your finances, concerns, and goals. Some clients already know their numbers. Others need help gathering the information. We start wherever you are.

During the session, we look at your financial picture, talk about what’s creating the most stress, and identify what deserves your attention first. You leave with a personalized action plan.

You can use that plan on your own or continue into private coaching. In ongoing coaching, we build your financial system together and use it in real life. My favorite money tool is YNAB because it’s highly customizable and makes it easier to tell your money what to do. How you set it up and use it is what matters most.

We adjust the system as we learn what works for you. Questions come up between meetings, too, so you can get support when you’re making a decision or something doesn’t make sense.

Over time, you understand the system well enough to maintain and change it as your life changes.

What Changes Through Financial Coaching?

At first, much of the work may be about gathering information and getting organized. Then clients begin to notice a shift in how they think and talk about money.

Decisions become less intense when they can see what’s available and what each choice would affect. Spending on something important to them can feel good because they know the rest of their priorities are covered. Saying no can feel more purposeful when they can see what they’re choosing instead.

Clients who once thought they were bad with money often discover they can make thoughtful decisions when the information is organized in a way they understand.

No two client meetings are the same. But over time, I see people become more comfortable looking at their money, more confident making decisions, and clearer about the life they’re creating with it.

That’s what I love about being a financial coach.

Start With a Financial Breakthrough Session

If you’re ready to understand where you are and what to focus on next, the Financial Breakthrough Session is the place to begin. We’ll look at your financial picture, identify what’s causing the most stress, and create a personalized action plan.