Why Work With a Money Mindset Coach?

Have you heard the term ‘Money Mindset Coach’ before?

There are many different kinds of life coaches out there, so without truly understanding what it is that they do, it’s hard to ascertain:

1. If you could even benefit from one.
2. Who the right coach is for you.

The pandemic undoubtedly changed our lives as a collective, but one positive outcome has been the surge in popularity of self-improvement.

With more time at home for many people, those unprecedented times meant more time for introspection. People questioning what they truly wanted for themselves going forward.

It has become apparent that we are more willing to invest in ourselves now. So much we took for granted as certain and secure in the past, was proven to actually be quite fragile.

We are looking at every area of life with renewed clarity. We are seeking ways to improve not just our physical and mental health, but our financial wellbeing too.

And that’s where money mindset coaching comes in.

What is a Money Mindset Coach?

So what exactly is a Money Mindset Coach?

“…A coach is someone who gives people special teaching in a particular subject…” – Collins Dictionary

Just as you might hire a personal trainer to overhaul your physical fitness, a Money Mindset Coach is someone who supports you in taking control of your finances, specifically your mindset around money.

They are not financial advisors so won’t tell you what to do with your money.

But they will help you become confident and better equipped to make those money decisions for yourself.

What does a Money Mindset Coach do?

The work that a Money Mindset Coach carries out will differ from client to client as everybody’s financial story is unique.

But typically they might:

• Discuss your current financial position and what you believe to be painpoints.
• Guide you through your personal limiting beliefs around money and help you to overcome them.
• Support you in becoming confident to handle all aspects of your personal finance that currently overwhelm you.
• Help you to set goals to improve your financial wellbeing and provide accountability to reach those goals faster.

Ultimately the work carried out will depend on what you hope to gain from coaching and will be discussed with you during a discovery or introductory call.

You might also enjoy…51 Affirmations for Money | Rewire Your Money Mindset

Who can a Money Mindset Coach help?

A Money Mindset Coach can help anyone at any stage of their financial journey.

Whether you feel hopeless at managing your money and are in debt; Or if you’ve already ticked off many of your big life money goals.

We all have areas that can be improved upon and weaknesses that we may want to address.

A Money Mindset Coach will be there to support and guide you wherever you feel you may need it.

Why work with a Money Mindset Coach?

There are numerous reasons why you might consider working with a Money Mindset Coach.

• If you feel overwhelmed with your money and not sure where to start
• You are overspending and not sure how to implement better habits
• Your mindset around money is negative and you’d like to feel more confident
• There are goals that you want to achieve but you don’t know where or how to start.

Advantages

It can feel counterproductive sometimes to invest money into yourself. Sure there is a lot of information out there for free that you could spend time researching and analysing that could help you in the way a Money Mindset Coach would. Wouldn’t that money be better spent towards x,y or z? Maybe.

But to go it alone, it can be hard to be truly objective about the areas of weakness that you need to improve on.

You might not even recognise them at all.

And so there are numerous advantages of working with a Money Mindset Coach.

An outside perspective

Sometimes, what we think we need isn’t what we actually need at all.

A coach can pull answers from you of questions you never even thought to ask.

They can look at situations objectively and help you to see them in a different light which might provide you with the kind of clarity you’d never have found by yourself.

Improved confidence

Managing your money can be overwhelming. A coach can provide you with the necessary tools to understand and feel comfortable with your finances.

They can help you feel more confident making money decisions and better equipped to do so in the future.

Accountability

Working with a coach can help you identify which goals are important to you and help keep you accountable in taking the required steps to achieve them.

Changed money beliefs

As the work is predominantly focused on mindset, a coach will help you to identify your current limiting beliefs around money.

You’ll work on creating positive and empowering new beliefs that align with the your personal values in life.

Improved financial wellbeing

The lessons you will learn working with a money coach will arm you with the tools you need to improve your financial wellbeing.

It’s efficient

As mentioned earlier, there is a lot of information out there in the world for free… too much in fact.

A Money Mindset Coach can sift through all of that noise and save you the time and energy getting straight to the root of your money roadblocks.

You might also enjoy… Money Mindset: what is it and what can you do about it

Disadvantages

There’s an argument that any self-improvement is beneficial, but for balance let’s look at some of the possible disadvantages of working with a Money Mindset Coach

It can be expensive

Life coaching isn’t usually cheap. But that’s because it is valuable.

When you work with a Money Mindset Coach you are paying for their industry expertise, the years of information gathering and the education they have taken in order to make themselves the best coach they can be.

Though it can seem like a big expense, most people will agree that the work is transformational.

The money you spend on a good Money Mindset Coach will be repaid to you infinitely when you apply your new skills and mindset to your personal finances.

It’s self indulgent

There’s always been an underlying sense of shame around investing in yourself.

Luckily this does seem to be something that we as a society are getting better at, but there are times when we might question why we should outlay money on ourselves when there’s probably something else we could be using that money for.

Guilt is not always a bad thing but equally, you deserve to feel at ease with your finances and arming yourself with the tools to improve your financial situation is far from selfish.

It’s time consuming

We’re busy people with busy lives. How can we possibly dedicate a set amount of time to life coaching?

Think of it as a gift of self-care. It’s okay to prioritise yourself once in a while.

It can be hard to find the right coach for you

Different coaches have different approaches and for it to work well for you, it’s important that you gel with your chosen coach.

Most coaches are happy to have a discussion with you before any money exchanges hands.

It doesn’t hurt to do a little homework – read their client testimonials and check out their socials to get a feel for the type of coach they are before you reach out to them.

Could a Money Mindset Coach help YOU?

Absolutely! We are always learning – no matter where we currently are on our personal journeys.

And we all have areas of weakness that we might want to work on.

Ultimately, only you can decide if coaching is the right fit for you… but there’s no harm in considering it.

If you want to work with me, then you can book a free discovery call here.