While speaking with a financial adviser would be the best person to consult with to improve ones monetary outlook, many are also now turning to an because those who struggle financially tend to also struggle in other parts of their life as well.
Unless a person has inherited their money, it is quite rare that you would find someone who is financially sound also struggling in other areas of their life. Generally speaking, successful people are usually very responsible and self-motivated while individuals who find themselves in debt or living paycheck to paycheck are generally ones who are unorganized, lack discipline, are not focused, and have a hard time following through on their commitments.
Here are four simple ways a coach can be supportive to those who need help:
1. Find Meaning In Your Life
Quite often those individuals who struggle or meaning in their life as they tend to bounce from job to job with no clear objective. One of the first tasks of a life coach is to help their clients discover their “why” as to what drives them in life so that they become more self-motivated.
When individuals find meaning in their life, they tend to become more engaged and driven to want to succeed financially.
2. Set Clear Financial Goals
Once a coach has helped their client find their purpose in life, they can then guide them through a process of defining their success so that they can set clear financial goals. Once an individual becomes clear on what success means to them and what lifestyle they would ideally like to live, their choices in life become much easier to make because it creates a clear path as to what they need to do to reach their financial goals.
3. Get Organized
Many people who have a hard time with their finances are generally just disorganized in their life. Some find themselves overwhelmed with clutter while others lack the ability to prioritize. By working with a life coach, they will be forced to get organized quickly because they will be taking on more work which means they will need to let go of anything in there life that does not serve a purpose towards their goals.
4. Time Management
As the saying goes, “Time is money” and most people who struggle financially do a terrible job of effectively. One of the most common complaints or excuses people use is that they don’t have enough time. Whether they realize they need to go back to school, get a second job, find a new job, or learn a new skill, it becomes quickly evident to these individuals that they need to do a better job of getting the most from their time.
One of the exercises a life coach has their client do is keep a journal of how they spend their time from morning until evening. Through this auditing process the client will quickly see how much time they are actually wasting and what needs to be done to improve their output.