7 Signs It’s Time to Hire a Money Coach to Help You Budget Better

You’ve analyzed your income and expenses. You’ve created a budget. You tightened the purse strings. But you’re still not quite where you want to be with your finances.

Maybe it’s time to get some help from an outside perspective, like a money coach.

Money coaches are popular with people who have dreams of being financially free. A coach is an expert in finances, so they can show you cracks in your plan that you might not see, or point you in a better direction you didn’t know existed.

When you’re ready to take control of your financial situation, a money coach could be the answer.

Check out these seven signs that you could benefit from some guidance with your budget. If they sound familiar, a money coach should be your next step!

1. You Have a Plan, But No Consistency

There are lots of people with the know-how to complete a task, but not the follow-through. These are the ones with the “Do as I say, not as I do” approach to parts of life.

You know what you need to do to reach your money goals. You probably even follow through with those steps for a while. But over time, you begin to let yourself slack here and there until you’ve lost sight of the target.

If consistency is your missing piece, the accountability of a money coach is exactly what you need.

2. Your Finances Aren’t For a One-Size-Fits-All Budget

You’ve probably noticed that most budget templates and tips online are meant for the typical weekly/bi-weekly pay schedule. There isn’t a lot out there for those who don’t fit that generic profile.

A money coach will work with you to design a customized plan to help you reach your own unique targets. They’ll use your lifestyle, skills, and resources and work around them instead of having you try to conform to a kit-plan.

3. You Aren’t Sure What Path You Need to Be On

Not everyone was raised around role-model financial experts. For most of us, our environment determines how much we know about our money options. We talk to friends or look online for answers, but it’s still confusing and stressful.

How can you create a path to financial success if you’re not sure which directions you can go?

Maybe you have student loans to pay off or you’re considering grad school but you’re not sure if it’s worth it. The future possibilities are hazy because you don’t have the knowledge yet to know what’s a good risk and what’s just plain risky.

Instead of ambling around without a clear plan, talk to a money coach to see if they can help you make sense of your options.

4. You Want to Be Ready for Retirement

Your parents and grandparents had the benefit of knowing that Medicare and Social Security were in their retirement futures. Even if they failed to plan successfully, they had a base amount of money to use to survive.

But if you want better than the bare minimum, you have to know how to plan for your retirement. This is where it can get confusing.

Do you put all your money into a 401(k)? Should you go with stocks and bonds? The market?

Creating a diverse portfolio of investments is not something to start without professional guidance. A money coach will give you the pros and cons of your options and help you make an informed decision to prepare for retirement.

5. You Know the Best Income is a Passive One

None of us want to work ourselves to the bone. If you’re all work and no play, you could benefit from a passive income stream.

A passive income is money that comes in to you regularly without you working for it. You do the hard stuff upfront, put in the time and sweat to do it right, and the results come flowing to you.

With today’s digital technology, there are endless ways to make passive money. A money coach will help you analyze your skills and talents to see what your best source of this revenue could be, then guide you in making an action plan.

6. You Know the Steps, But You Keep Hitting Stumbling Blocks

There’s a common saying that goes, “Next level, next devil.” Every time you try to move up in the world, you’re going to hit something that tries to stop you.

Even with the most stubborn, positive mindset, if you’re not sure how to get around them, you might not be able to.

Sure, you can move a mountain if you have the right equipment. But if you don’t know the tools you have at your disposal, no amount of pushing will get it done.

The same thing applies to finances. If you hit a stumbling block on your way to success, don’t give up! Your money coach can give you the support you need and provide you with tools you weren’t aware of to break through!

7. You’re Ready to Enjoy the Fruits of Your Labor

Financial freedom is more than being debt-free. It’s the whole big picture.

When you’re successful with your wealth, your whole life is balanced. You can enjoy your family, hobbies, and interests without worry. You’re fulfilled and content that while you’re having fun, bills aren’t piling up.

The goal of a money coach is to provide you with the knowledge to build a truly wealthy life. It’s not about following the money trail. It’s about knowing how to handle your finances so you don’t have to sacrifice enjoying your life to make money, or vice versa.


Conclusion

Starting your financial journey with a budget is the perfect way to get the ball rolling. But without knowing your options and designing personalized goals, you’ll always be attempting to live within your means.

This is a good starter goal. A money coach can take that solid foundation and help you live financially free, enjoying your hard-earned money and balancing a personal life you love to wake up to.

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