Posts Tagged ‘financial planning’

Where Do We Go From Here?

Taking Steps Toward Financial Happiness and Balance in the Wake of COVID-19

This hasn’t been an easy ride for any of us. Many of us are currently faced with fears, uncertainty, and worry in a variety of ways. Our relationships have taken a toll, our stress levels are at an all-time high, and at the end of the day, we are exhausted. So, where do we go from here?

Well, now we rebuild and reclaim. It starts by taking an honest look at where we are and creating a plan to realign. While most of us hate to hear the phrase “the new normal,” it is the reality of what we are facing at this time. It can be really challenging to take a long, hard look at where we’re at and where we want to be, but it is the only way to truly create inspired, lasting change.

If we can look at our lives through an objective lens, where do we see room for improvement? What are some tweaks and changes we can make right now, and what are some achievable goals we can set to keep ourselves going?

So what does this mean for us? Well, for those of us in relationships, we need to talk to our partners and try to get on the same page. About our goals and our finances. When there are crystal clear lines of communication, and a mutual understanding of each other, it becomes that much easier to be aligned with the same vision moving forward. A true partnership allows everyone’s voices to be heard, and to make joint decisions together as a team. Finances can be an emotional subject but they need to be discussed so change can happen. This support is vitally important at this time, and can actually serve as a bonding experience during these strange moments.

What else can we do? We can take a little time for peace and relaxation. During this fearful time of doubt, anxiety, and financial stress it is now more important than ever to practice self-care. Whatever serves as good therapy right now, we need to find more time for that. When we give ourselves a moment to really take a breath, it gives us the energy and the strength we need to take a step. Take some time to reflect, and find some peace and calming. It will help to put you in a better headspace for moving forward.

If you could use a little extra help through private coaching at this time, let’s get to know each other and see if we are a good fit to work together. You can book your 45-minute Initial Discovery Session here.

Looking for private coaching? Schedule some time together by phone or video conference to get to know each other a bit and see if we are a good fit to work together.

What It Means To Be Financially Free

When we are financially free, we are also free from worry.

Budgeting and saving money is no easy feat. It takes time, dedication, planning, and self-control.

It’s truly hard work to achieve that level of discipline, and at times it can start to weigh heavily. So if you’re sitting here asking yourself what’s the point of it all, I have one simple, seven-letter word for you: freedom. We do this work in order to achieve financial freedom, but there are many other types of freedom we gain in return. 

When we are financially free, we are also free from worry. All of our financial-related stresses and anxieties start melting away, leaving us with more time, energy, and money to do things we love. This allows us the freedom to do what we want to do, and to be who we want to be. When we have financial woes, it trickles down into so many areas of our lives, including our marriage, relationships, and health. You deserve to feel like your best self so that you can then in turn start truly living your best life. 

Franklin D. Roosevelt once said, “In the truest sense, freedom cannot be bestowed; it must be achieved,” and what wise words these are. There is so much power to be had in achieving your own freedom. If someone else were to hand you the keys to this freedom, you would never essentially be free because that freedom would always come with a cost. There would always be a catch, or you would always be living life on someone else’s terms. However, when we create our own freedom, that is where our true power lies. When we prove to ourselves that we can not only survive, but thrive, that how we take back the reins and regain control over our own lives. That sovereignty then fuels us, pushing us to continue to take inspired action and create lasting change.  

In Janis Joplin’s hit song, “Me and Bobby McGee,” Joplin sings the words, “Freedom’s just another word for nothing left to lose.” When you set yourself up for success through positive routines, it is such a liberating feeling. When you have achieved financial freedom, you will feel as though you have nothing left to lose, and only so much more to gain. So if you’re on the road to re-writing your financial future, financial coaching can be a huge leap in the right direction. It all starts by taking the first step! Contact me to set up your 45 Minute Initial Discovery Session, where we can get to know each other a bit, and see if we are a good fit for working together. You can schedule your session here.

Looking for private coaching? Schedule some time together by phone or video conference to get to know each other a bit and see if we are a good fit to work together.

Is Financial Coaching Right For Me?

The in’s and out’s of debt reduction

Given the state of the world in light of the global pandemic, many people are worried about debt, so this month I wanted to focus on debt reduction. I work with a lot of people to pay off debt, stop racking up new debt, and start saving for the future. So if you find yourself asking, “is financial coaching right for me?”, know that you’re not alone. That’s one of the biggest questions I get from potential clients, so this month we are going to address what financial coaching is and isn’t, and who is it right or wrong for.

Financial Coaching Is:

1. For people who want to regain their financial freedom. Are you controlling your money, or is your money controlling you? If you feel like your finances have been dictating your life, it’s time to put you back in the driver seat, and take control of making your money work for you, not against you.

2. For people willing to put the time and effort in to get what they want. Financial coaching requires attention and focus, and we must be willing to start practicing what we preach in terms of spending, saving, and budgeting.

3. About creating a plan and budget to reshape your financial future. Debt reduction requires planning ahead in order to be proactive instead of reactive. Awareness is key to success and knowing the balances and interest rates helps us create a good plan. Creating a plan and budget can help to keep you on target and on track, in order to successfully achieve your financial goals and objectives. The plan must be fluid and change with each month.

4. About consistently reducing debt. Consistency is the key to reducing your debt over time. You must implement a constant, reliable approach to debt reduction if you want to be successful in the long run.

5. About increasing savings. Having an emergency fund for the times when life throws us curve balls helps eliminate stress and allows us to stick to the budget. Creating “sinking funds” for irregular expenses helps take the roller coaster out of money.

6. For people who are willing to make manageable changes. Change is the only constant in this world, but oftentimes we fight it tooth and nail. However, these small changes and practices to your regular routine can make for powerful change to your financial future.

Financial Coaching Is Not:

1. A get out of jail free card. If you are looking for a quick fix or a get rich quick scheme, this is simply not the path for you. Coaching is only effective if we are to learn from the mistakes of our past, in order to stop the cycle of repeating them.

2. About bankruptcy. In my Initial Discovery Sessions, many of my potential clients ask if they’re going to have to declare bankruptcy, but until we meet and do a deep dive you won’t know if that’s the right solution for you. Let’s set you up with some healthy financial practices and goals so that bankruptcy is the last choice and only used if absolutely necessary. You need to know the pros and cons of this choice.

3. A quick fix. Unfortunately, I am not The Debt Fairy. I have no magic wand or pixie dust to miraculously erase your debt. Financial transformation requires patience and dedication in order to be effective.

4. For people who don’t want to change. If you’re looking to keep doing exactly what you’ve always done, then financial coaching is not for you. But if you’re open-minded and willing to make the necessary changes to re-shape your financial future, the right outlook is everything.

5. For people who run away from accountability. In order for financial coaching to work for you, you must take a long hard look at your attitude toward money. We all make mistakes in life, but in order to turn things around and make lasting change, accountability for your actions is crucial.

6. For people who are stuck in a victim mindset. There is no white knight on his noble steed coming to rescue you from your financial woes. If you want to create the path to financial freedom, victim mentality needs to be a thing of the past. No more finger-pointing or playing the blame game. You may have gotten yourself into this, but you can get yourself out of it with the necessary tweaks. 

7. For people who barely earn enough to survive. If your debt to income ratio is severely out of whack, then financial coaching may not be the right option for you. Sometimes the first step is to increase your income, then we can better address your debt reduction.

I hope this answers some of your questions and gives you a better idea of the in’s and out’s of financial coaching and debt reduction. If you’re looking for private coaching, contact me today or request your introductory Discovery Session. Find out more here.

Looking for private coaching? Schedule some time together by phone or video conference to get to know each other a bit and see if we are a good fit to work together.