What Is a Financial Coach? (2024)

When someone tells you they have a coach, the first thing you might think is that they’re training for a huge race or an epic hike. And while that could be true, coaches aren’t just for athletes anymore. In fact, now there's a coach for just about anything you need, and every coach has their own specialty:

• Life coaching
• Personal coaching
• Career coaching
• Leadership coaching
• Financial coaching

A financial coach is a trained money expert, only they meet you where you are and use language you can understand. If you choose to work with a financial coach, the experience can be a game changer. They can help you stick to a budget, cheer you on as you attack your debt and help you gain more confidence in your personal finances.

With a financial coach in your corner, you can overcome money stress and get financial peace. And who doesn’t want that kind of result?

What Is a Financial Coach?

A financial coach is a guide (who’s also a money whiz) who joins you on your journey. They’re there to help—think of them as your personal cheerleader. As a trained money expert, they’ll teach you how to:

• Set money goals.
• Create (and stick to) a budget.
• Eliminate your debt.
• Change your money habits for good.

And the best part? A personal financial crisis isn’t required! You’ll benefit from working with a financial coach even if you feel like things are going pretty well. When it comes down to it, we all have something to learn about how we can manage our money better. Because if you change your money habits, that changes everything.

It’s important to remember that, while financial coaches help all kinds of people in all kinds of ways, they’re not legally able to give you investment advice. (If you’re looking for that, you’ll need to talk with an investment pro.)

What Does a Financial Coach Do?

At this point, you might be thinking to yourself, Wow, this sounds really great. Heck, maybe you’re thinking of connecting with a financial coach yourself. And you should!

But first, it’ll help to know what a coach does. Every coaching session is a little different. Typically a financial coach will:

• Help you uncover your financial goals
• Work with you to make a plan (so you’ll actually achieve them)
• Hold you accountable to your plan (with a budget that works)
• Help you change your money behaviors
• Cheer you on through all your wins—from small to big

The best coaches understand what you’re going through because so many of them have been there themselves. Because of this, they may push you out of your comfort zone a little. And why? They know from experience it’ll be worth it.

And remember, you get to be the one who makes progress happen in your life—because your coach doesn't do the work for you. You do. And that means you get all the (well-deserved) credit for your wins!

A Financial Coach Can Help Change Behaviors

Making your money do what you want it to isn't about what you know, it’s about what you do. In other words, there’s a why behind every action. We often do stuff because of how it makes us feel.

You may be looking for a coach because you feel like you have no control over your money. But personal financial coaching is a process that can teach you how to make a plan—and help you stick to it even when it's hard. Once you've proven to yourself that you really can change some of those old habits, that pesky out-of-control feeling will be long gone. And that's the kind of stuff that can change you for life.

That’s why money coaching is a process—an ongoing relationship—not a one-time transaction. Your financial coach isn’t just there to give you a to-do list (heck, an app could do that). Nope. They're a real person who’s passionate about helping you for real, and they’ve got your back when you have questions or need a little encouragement to keep going.

A Financial Coach Helps You Set Financial Goals That Make Sense

Your financial coach knows goals are never one-size-fits-all, so they’ll help you set goals that make sense for you:

• Paying off your debt
• Building your emergency fund
• Saving for your house, vacation and retirement
• Starting a business

Whenever and however youset financial goals, they have to beyours. Because if you don’t own your goals (or if they don’t make sense for you), you won’t feel a deep desire to achieve them. And if your goals don’t make sense, you’re back to square one. So, coaches help you set goals that make sense for you—and help you stick with your plan.

Take It Step by Step

The coaching process isn’t always easy, so don’t expect to see instant improvement. It’s a step-by-step process, and it takes time. Making big changes isn’t easy or quick—but there is a light at the end of the tunnel.

Your financial coach can walk with you through the hard stuff. If you’re in a tough place with your money right now, you know at least two things: It didn’t happen overnight. And neither will getting out of it. Your coach understands making progress and achieving goals is so worth it though, which is why they're your biggest fan.

How to Find the Right Financial Coach

Listen, finding a coach you feel you can trust can be tough. It’s not easy being vulnerable about this stuff. But at the very least, you know you want a coach who:

• Offersrealhelp that actually works
• Has the heart of a teacher
• And really hears you

Want a simple, trusted way to do that? Good news! There’s anational networkof Ramsey Preferred Coaches (RPCs) who understand exactly what you want and need. And they’re ready to help you!

Each of these professional financial coaches shares the same philosophies on money that Dave Ramsey has been teaching for more than 30 years. Talk to an RPC and book yourfree consultation now.

How to Become a Financial Coach

Are you inspired to help those who are caught in their own financial stress? Starting your own coaching business could be a great fit. But before you step out on that journey, you’ll want top-notch training and certification.

We’ve been training coaches for a long time here at Ramsey Solutions. Our Financial Coach Master Training online course is the best way to kick-start your financial coaching practice. We train and support thousands of coaches in the art and science of guiding their clients from confusion to success. Want to work with the best? There’s an open seat with your name on it!

Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books (including 12 national bestsellers) published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.