If you enjoy the content here at MindYour2Cents, then you should consider if our financial coaching service may be of help to you. The following questions and answers are designed to help you identify if you would like to contact us for more information.
What is a financial coach, and why would I hire one?
A financial coach is someone who works with you to develop a budget, identify ways to save money within your current spending habits, and then stick to your goals. It is really hard to change your habits, especially if no one is watching you. By working with a coach, you benefit from the experience provided, and have someone to keep you accountable to your established goals. The clients who most benefit from financial coaching are those who earn a good income, yet have little or no savings to show for it. Through our personal relationships with our clients we are able to help them increase their wealth over time.
Who would my financial coach be, and how would we communicate?
Your financial coach would be the creative mind at MindYour2Cents. You would develop a relationship with your coach via phone conversations and email.
How does the process work?
You fill out our contact form so we know of your interest and can contact you to set up a free consultation phone call. During the consultation call we explore whether a financial coaching relationship will be beneficial for both parties. We do this work because we enjoy it, we are good at it, and we want to help others. If you do not have a circumstance we can assist with, then you will not be taken on as a client.
If you meet the criteria for acceptance as a client, and would like to move forward, then we will execute a contract agreeing to terms. The initial term is a one-year engagement, during which we will establish goals, develop an action plan, and then monitor your progress. During initial on-boarding you will have pre-meeting assignments to complete. We will initially have two calls to establish goals and develop an action plan. We will then have phone meetings to check in on progress at approximately 10-13 week intervals. In between our phone meetings, we are available by email to answer questions or concerns. At the end of the year, we will decide if we would like to extend the engagement. We enjoy maintaining long-term relationships in which our clients continue to achieve success.
What does it cost?
We utilize a retainer model which costs $95.00 per month for the 12 months of the engagement. We selectively take on clients who can end up saving significantly more money that what they pay us. The ideal client is someone with a good income and little to no savings who can end the initial term in a significantly stronger financial position than they began it in.
Is this guaranteed to work?
We provide a beneficial service to someone who is coachable and has not been able to make the needed changes without help. Our clients who work hard and follow the plan have done very well historically. If you have a strong desire to get ahead, and just can't seem to do it, we may be able to help. You will have to do the hard work, but will have us there to support you and remind you of your goals.