You may be wondering, “What is the difference between a financial coach and a financial counselor?” And, “Which one can help me better?” These terms are interchangeable. I prefer the softer feeling of the term “financial counselor”, but both positions will educate you and guide you to achieve your financial goals. Both positions will refer you to another professional if they are not licensed in the areas of investing or insurance. We help you gather information and organize that information. We help you understand and apply the knowledge to your life and your goals.

I think the term “financial coach” also has kind of a bad feel, like they are selling you snake oil. Just like in every other industry, there are bad eggs. Most of us just want to help people achieve their goals by educating people and being their cheerleader until the client meets their goals and the contract has ended.

Pro Tips for Picking a Financial coach

1. Set up a call with the financial coach you are thinking about working with. See how they communicate with you. See how you feel while talking with them. Their communication with you should feel honest and hopeful.
2. Make sure you understand their pricing and payment methods before signing up.
3. Ask about their qualifications. You will be paying them to help you, so you should be satisfied with their potential to do so.
4. Ask them about their service options. Some coaches will see clients on an hourly basis, and some will see clients on a package basis.
5. Many coaches offer different options for communicating with them. Will their business communication methods work for you? Some offer texting/calling, some offer only email, and some offer other methods of communication like Voxer or WhatsApp.
6. Some coaches only answer messages during the workday. How frequently would you be in contact with them? Are they available to answer messages on the weekend? After business hours?
7. This is the most important tip I have for you. What are your goals for meeting with a financial coach? Before you can make any other decisions, know why you want to work with a financial coach.

At the end of the day, whether you choose a financial counselor or a financial coach, the most important thing is that you feel supported, respected, and empowered to take the next step toward your goals. The right professional will meet you where you are, give you the tools you need, and cheer you on as you move forward.

If you’re ready to take that step, I’d love to walk alongside you. You can explore my counseling services or reach out directly by email (contact@myfinancialequity.com) or phone/text (515-207-2957).