4 Reasons People Become Financial Coaches

4 Minute Read

Financial coaches change lives. They do what Dave Ramsey does every day on The Dave Ramsey Show—except they sit one-on-one, knee-to-knee, with their clients. Sometimes they connect with people over several sessions. They walk with them out of financial crisis and into financial peace.

Basically, they’re the Obi-Wan Kenobis of personal finance.

We’ve talked before about how anyone can be a financial coach! Many have attended Financial Coach Master Training (FCMT) and gone on to become Ramsey Solutions Master Financial Coaches. In fact, people just like you with a passion to help others sold out all of our 2016 sessions. Clearly, people are hungry for what FCMT is offering!

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But people who participate in FCMT don’t fit a specific mold. In fact, our April experience included everyone from a pro football player to a stay-at-home mom to a financial professional. Our participants take part for a variety of reasons, and they hope they’ll come out of it with a broader range of skills. No two attendees are exactly alike!

So why do people participate in FCMT, and what do they hope to gain from it? Here’s what we hear most often.

1. They want to build a better coaching business.

Many FCMT attendees offer financial coaching as a ministry in their community or church, and they register for FCMT to learn how to operate that successfully. Others turn it into a side business, and that’s okay! For those folks, FCMT is a chance to take their coaching business to the next level. They want to learn how to create a more efficient business model and to improve their marketing strategy and service offerings.

2. They want to be a better coach.

Financial coaching is something anyone can do, but it does take knowledge, skill and training to do it right. Participants know they’ll come out of FCMT with all of those things. Specifically, they expect to grow in their personal coaching ability and their confidence—all while learning better coaching techniques. As soon-to-be coaches, they’ll ultimately lead clients out of financial messes. But in the short run, FCMT is all about coaches taking the time to invest in themselves.

3. They want to learn more about the logistics of coaching.

This is all about the nitty-gritty of financial coaching. These attendees want details: a solid understanding of coaching processes; the legal differences between coaching and advising; an understanding of taxes, investing and wealth building; and an awareness of the resources available to them as coaches. FCMT gives them all that information and more!

4. They want to make a bigger difference in people’s lives.

Perhaps the most powerful reason people participate in FCMT has nothing to do with numbers, facts, details or business information. It’s about heart. People truly want to know the best ways to make the biggest impact in people’s lives. If they’re going through FCMT, chances are they already have a heart for helping people. But they know that by completing the training, they’ll learn how to turn their passion into action.

Perhaps the most powerful reason people participate in FCMT has nothing to do with numbers.... It’s about heart.

Specifically, FCMT participants are hungry to learn ways to better handle the emotional aspects of coaching, like marital struggles or depression. They also want to learn how to help people build budgets and really motivate them to succeed. And perhaps the most challenging thing people want to learn: how to walk the line between showing mercy, holding clients accountable, and being their biggest source of encouragement.

If financial coaching is something you’ve considered, what’s your motivation?

To learn more about financial coaching and becoming a Ramsey Solutions Master Financial Coach, click here.

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