What Does a Financial Coach Do
So if financial advising isn’t for me then what is it that I do?
Financial coaching!
But What Actually Is Financial Coaching?
It’s hard to sum up something so huge - but let me try…
There is an ducational element, so we can talk about the specifics - different products or genres of products, the basic elements of personal finance, methods for saving or working out goals - all sorts of stuff but what it’s truly about is getting to the bottom of who you are regarding money, what you value and how you can move that forward.
Coaching isn’t regulated, unlike financial advising, so that means that I cannot give advice. Advice in this context is best understood as recommendations. I can’t tell you where to put your money, how much of it to put there or whether to move your money or assets. I can’t suggest specific assets or products that might work for you or even ‘okay’ one that you’ve decided found yourself.
That’s Not To Say We Can’t Get Practical.
If your problem is debt for example, we can discuss methods of debt paydown and which might be better, we can get into the weeds with organising that using my planner, we could read letters together to get the information you need from them, or we could google together to get that and discuss the benefits or drawbacks of say, amalgamating that debt into one. And potentially many other things.
Before any of that happens though, we want to get an understanding of the emotional background to it. If debt is a recurring issue for you - why? If you’re feeling an unusual amount of shame about it - where did that come from? If you don’t dare even look at it because it’s too much - how can we lessen that burden?
Money Issues Are Rarely Just Money Issues.
Money is the backbone to our survival in this world. Without it life is pretty shit. You can regret that we’re in this position as a society but you can’t deny it.
Money can represent safety, security, freedom, opportunity, regret, shame, pride, honour, work, family. What we almost always find when we look under the bonnet of a ‘money problem’ or a repeated pattern that isn’t working for you, is that the real issue stems from something much deeper and in many ways more important.
This Also Isn’t Therapy.
Financial therapy is absolutely a thing and worth looking into if money issues are linked to deeper traumas or creating a deeper trauma itself. Financial therapy looks backwards to truly dig into and understand the causes of those deeper problems.
We are concentrating on looking forward. We’re trying to understand our patterns so that we can create new beliefs and behaviours which actually align with where we want to be and our core values rather than trying to put the past into an order.
What Does a Financial Coaching Session Look Like?
I follow the Money Clearing Method from Catherine Morgan which is a really supportive but flexible and adaptable framework. It lets me keep us on track and move the conversation forward to an uplifting end, but it doesn’t stop us wandering about a bit in the weeds and following threads which feel intriguing.
To begin, I’ll say hello, ask if it’s okay to record and then we start.
Sometimes people come with something that they’re ready to talk about and it comes out naturally. Otherwise I have a series of questions designed to open the flow of conversation. We don’t get practical right away - these questions are open ended and curiosity driven. We’re looking for stories rather than numbers.
This might relate to childhood, what’s going on currently, goals, specific memories, things you’re confused about, things you’re worrying about, your intentions for the session.
At this point a thread often emerges and we follow that with more open ended questions, letting the thoughts and connections happen as they happen. Am I allowed to say this is my favourite part? The stuff that comes up in this section is surprising and often absolutely unexpected.
Next, we take some time to define what’s coming up and then assess that from lots of different angles. We’re trying to work out if the beliefs help you, hinder you, if they’re true, where they came from, whether they can be useful whether they need to change, whether they relate to what you came to the session for - and much more!
The final part of the session is setting up intentions in some way. This could be practical tasks, like a to do list or it could be wider and less defined. It might be about envisioning the life you want to step into, how ready you are to take the steps and how you might go about doing them.
No session I’ve ever been part of has run from A, through B to C. We wander and meander. Things which seemed certain at the beginning of the session are disproved as we dig deeper and that turns an understanding on its head. It’s a fantastic process and it can go deep , but it should feel inspiring and elevating - certainly by the end.
The aim is always to give you more to think about. Not to solve all of the problems but to get air into them so that you can unknot it yourself.
We wrap it up and say goodbye and then I take my time to review the recording and write up a PDF summary of the core themes and your agreed actions. You’re not supposed to go in with an agenda as a coach, and I don’t in terms of what we’re going to discuss and what happens on the day, but I want you to leave with something tangible to get your teeth into so the PDF is sent within 48 hours.
If any of this is landing - you're probably ready. Let's go!
Who Is This For?
Women and non-binary people living in the UK who are doing okay but know that there’s more to be had.
I want to work with people who:
Have a bit of spare cash but are shoving it in a savings account.
Are in and out of credit card debt but can’t seem to lock it down.
Don’t dare open their bank app.
Want to retire someday and actually believe it's possible.
Know they need to change to give their kids a better future.
Want to be wealthy but don’t want to think about it every minute of the day.
Have to miss out on seeing friends, visiting galleries or going on marches because they don’t have the money or need to work.
It’s not for you if:
You are in significant debt (which I’d define as not being able to make the minimum payments each month, I have resources for you, don’t worry).
You’re not bothered about your situation. That’s absolutely fine. I am here if and when you are ready for change.
You already have a portfolio and a financial adviser and you’re pretty confident in what you’re doing.
Price of Financial Coaching
One session can change the conversation you're having with yourself about money. Here's what that costs:
£120 for a 90 minute digital session with the follow up pdf of core themes and action steps.
You can get three sessions for £300, saving you £60!
I also do a free 15 minute check in session to see if we’re a good fit for each other.
I’m Ready To Book - How Do I Do It?
This is the booking page where you can read even more information.
And if you’re just ready to book right this second - this link takes you straight to the calender view - book your coaching session here.
Love Eleanor. xxx
