FREQUENTLY ASKED QUESTIONS
Individual and Family Financial Coaching
- What is financial coaching?
- I live nowhere near Washington DC. Can you still help me?
- How does this work?
- Is all of this confidential?
- How much money do I need in order to work with you?
- How can I afford to pay you when I can’t even pay my bills?
- Wouldn’t it be best if I just filed for bankruptcy?
- Will you help me consolidate my bills?
- Do I have to make a commitment?
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I like to think of financial coaching as the process of educating a client with sound financial principles, building their confidence to achieve desired results and assisting them with the minor bumps along the way.
Please keep in mind that I do not run my business as a financial planner or investment advisor. In other words, I am not going to tell you to “invest in gold” or “you need to save $x.xx a month”. I will however, help you weigh the costs and benefits of decisions just like that to help you make an informed financial choice.
I do not live anywhere near the Baltimore-Washington Metro area. Can you still help me?
Absolutely! In fact, the majority of my clients are nowhere near me. I will work with you through the phone, video conferences and email. We have an easy system in which we can securely share files and data so that I can make sure I am helping you just as if you were sitting right in front of me!
How does this work?
I’m glad you asked. The first step is to have a complimentary 30-minute consultation. In those 30 minutes, we will chat about your financial goals and how I help people just like you achieve them. You can simply contact me to set that up.
Still want more detail? Well, in the beginning stages we will meet frequently to get you on the right track. After the first few sessions, we will meet less frequently to keep an eye on your goals and readjust things as needed. As the title suggests, I am here to coach you through the good and bad.
You bet it is. All of our conversations are completely confidential. So, if your kids call me and want to know how much money mommy and daddy has, I will not tell them. Actually, I will deny that I even know you.
How much money do I need in order to work with you?
I do not require you to have a certain amount of funds to work with me. You could have $1 or $1,000,000 in the bank. It does not matter. If you are in need of some financial guidance whether that be getting out of debt, saving for retirement, etc., I am eager to help you.
How can I afford to pay you when I can’t even pay my bills?
After we talk and formulate a plan, you will quickly discover that your cash flow has a lot more flexibility than you previously imagined. I have heard plenty of clients mention that my fees are a bargain compared to the positive impact my services provide for them and their family.
Wouldn’t it be best if I just filed for bankruptcy?
Bankruptcy is typically not the best course of action. It is only a “quick fix” and does not treat the real problems which are usually overspending and living without a plan. The bankruptcy laws have also changed and it is getting more and more difficult to have your debts eliminated. By working with me, I can help you avoid bankruptcy all together and get you on the right track. That’s my promise.
Will you help me consolidate my bills?
Unfortunately, I do not help clients consolidate their bills/debts. In fact, consolidation is usually a bad idea as it does not address the issues that got you into debt in the first place. I will however educate and assist you with designing a plan to eliminate your debt in an efficient manner.
Do I have to make a commitment?
You do not need to make a commitment to my services. The commitment that you should make is to yourself. You should be fired up and ready to attack your financial problems head on. Without that type of commitment, I’m afraid I cannot help you.