Financial Fiber

Frequently Asked Questions

What is a personal financial coach?

Think of a personal financial coach as a personal trainer for your money. You likely have some goals for your life that may require saving money or paying off debt. Your personal finance coach listens and takes a look at the numbers to determine where you are, where you want to be and what is preventing you from reaching your goals. Your coach then works with you to make an action plan that aligns with your values to get you where you want to go.

How are you different from a financial advisor?

I do not sell any products or advise on investments, but I can offer resources and referrals for that.

I already have a financial advisor, do I need a money coach?

Yes, you may still benefit from hiring a personal finance coach. A personal finance coach can help you create a spending plan that funds your retirement and investment accounts managed by your financial advisor. Additionally, a financial advisor may run analysis to determine if you have enough money to retire based on the information you provided about your future spending. The plan is only as accurate as the inputs. A financial coach can help you understand your current and future spending, so that you can provide more accurate inputs to your financial advisor.

Why would I need coaching? Can't I just do it myself?

Absolutely! I did. Hiring a personal finance coach is just like hiring a personal trainer. Most of us know that we should be exercising, but may not have the time and energy to sort through the large amount of conflicting information found online to create a program for ourselves. Even if you know what you should be doing, you may make more progress with a coach to challenge and encourage you.

Where will we meet for our coaching sessions?

We will meet via Google Meets. I find that being able to share our screens is helpful during certain parts of the sessions.