Coaching is the practice of certain methods and techniques, by which the coach helps to achieve the client’s objectives.
Coaching has very ancient origins, and is based on the guidance of a professional, to achieve the personal development of the person who hires his services.
In the case of financial coaching, the aim is to train the individual to achieve all his or her financial goals.
The practice of financial coaching will give you all the tools you need to build wealth and achieve financial freedom.
The financial coach is a person who will motivate and guide you in the pursuit of your personal goals, he/she will be a companion on the road and a teacher at the same time.
Financial coaching methodology
Here you will discover the method used in financial coaching practices, so that you will have a better understanding of this discipline.
Knowing how it works, you can begin to put into practice certain things that we present here, to start changing your habits and your financial situation.
I will summarize the methodology in 4 simple steps:
Assessment of your current situation
First of all, what you will do in a coaching session is to look at yourself, to put a mirror in which you will observe yourself in order to get to know yourself better
Many people think they know each other, but they do not pay attention to each other and do not evaluate their behavior or their thoughts.
If we want to change something, the first step is to assess what things we want to change about ourselves, because without this first step we have no basis from which to start.
Target setting
Once we are clear about where we are and the things we want to change, we will set goals to achieve.
These objectives must be realistic, taking into account where we are and what effort we are capable of making to achieve them.
The objectives have to be clear, it is not enough to aim to be a millionaire. A target would be to have an income of 10,000 euros per month by January 2019.
Making a plan
Now that we know where we are and where we want to be in the future, all that remainsis to map out the route we will take to reach our destination.
The plan that we are going to develop will be very important to do it with special attention and care, as these will be the indications that will guide us towards our goal..
It’s like when we decide to go to the beach on holiday in summer.
We know we are at home, and we know where the beach is. Then we will have to find the shortest route, and prepare suitcases, food, and fuel.
If we choose a route that takes us in the opposite direction, or if we do not prepare our car for the journey beforehand, then we will not reach our destination.
Embarking on the journey
Once we are clear about where we want to go, and the path we are going to take to get there, it is time to start our journey.
It is no use having everything in our minds if we don’t take action and go for it. Walking is what will take us towards our goal.
On the journey we will have to stick to our plan, but there will still be issues that we had not imagined, and which are not in the plan.
And here the help and guidance of our coach is of vital importance, as he or she is the one who will help us with his or her experience and knowledge.