10 Reasons You Need a Financial Coach - Part 3
Welcome to Part 3 in our series of "10 Reasons You Need a Financial Coach"!If you've missed any of the series, get caught up today:
Here are reasons 6,7 & 8:
6. You and your spouse need to be on the same page with your money.
All married couples have one thing in common. At some point we have fussed about the money. Usually the argument ensues because “there isn’t enough”. Shared goals, a plan both parties have created together, and open honesty can reduce the disagreements. If you are truly going in the same direction in life then a budget will reflect that. Each party must have their needs met and have some cash to spend on their own. A budget does NOT have to be a strait jacket but it should keep you both on the straight and narrow towards your shared goals.
7. You need to end the feast and famine lifestyle.
Not having a budget is like trying to drive across the country without a map or GPS. You will go nowhere fast. This leads to a feast and famine mentality. You are happy on payday Friday and by Monday you are looking for the next paycheck. You need to level the playing field. Developing a plan for savings and cushion gives you the room you need when you need it. This doesn’t happen by itself though. You must be intentional. A budget shows you how to get from feast and famine to your destination of freedom.
8. Your goals are important enough to invest in.
Think about your personal goals. Where do you see yourself in 5, 10, or 20 years? Do you know if you are on track or just coasting? Add up how much money it will take to fund your goals in the next 20 years. I know it’s hard but take a guess. That is how much it will cost you if you don’t take action today. A small investment in a financial coach who can get you on right track is worth every penny. The alternative is to look back and wish you had done something earlier.
