Top 3 lessons my debt coaching clients have taught me
My first paid debt coaching client was from a good friend that I’ve known since middle school. We’ve traveled together, had drinks together, dinner together, even clubbed together. We’ve talked about our careers and our loved ones, and of course the topic of money came up. But there was never any pressure since we were just two friends having an honest conversation. Then the day came when she said,
“I need to get better with my money, Candice. I’m ready to book a debt call.”
We all have to do things on our own time, and I’m happy that my friend trusted me to help her on her money journey.
Today I’m sharing the top 3 lessons I’ve learned thus far from my debt-coaching clients.
#1 Feeling Anxiety or Overwhelmed Usually stems from Not Having a Plan.
When you don’t have your numbers written down, it’s easy to lay in bed at night wondering if you’re on the right track. Once the numbers are revealed, you’ll have less anxiety because you know exactly what’s going on in your finances.
The simple of act of having a plan will actually help you sleep better at night. Regardless of the numbers looking good or bad, getting them down on paper is the start of improvement. The only way you can become better is if you know where you are.
After one of my clients saw her numbers, she immediately felt relieved, saying,
“Thanks, Candice! Doing this exercise actually revealed the reason for my recent anxiety.”
Facing your finances is the first step to knowing your numbers.
#2 Playing the Guessing Game with Money
Many times we have numbers rolling around in our heads as estimates instead of tracking the exact amounts. When we’re left guessing, it’s much easier to overspend. If we don’t know how much money is coming in, how will we know what’s going out?
In other words, we spend more in a month than we make. That’s when handy dandy credit cards come in to fund the difference. Keep in mind that using a credit card for the short-term could be unfavorable in the long-term.
Getting the numbers in an excel sheet will give you a clear idea of your monthly income, the extra money you have and the areas you can save more to reach your goals. Find a plan that works for you and it will end up making money for you, too.
When you hear the words true value, what comes to mind? It’s a great question to ask yourself to find out what value is to you. Having the answer will act as a benchmark for your spending habits.
If you know where you’re working from–and towards–it becomes a lot easier to stick to your money plan. It’s like a runner preparing for a marathon. Yes it will be hard work, hours, sweat and even tears. Yes your body will be sore, and you’ll probably have to pep talk yourself every day. But in the end, you know your goal is to cross that finish line.
So what will your financial finish line be?
Sitting down and facing the truth about your money can be scary, since most times it requires you to change. Eventually, though, we have to accept it. And the great thing about change is that it all adds up.
Once you have a plan for your money, it takes away the anxiety and makes your life so much easier. You’ll feel good because you’re making progress towards your money goals.
I know money is a super personal issue, so I’m thankful that people trust me to sit down and be open about their situation. Willing to let me help them map out a plan. Willing to start with that first step and move on to the next ones in stride. Willing to have an open, honest conversation with me like a friend would. Willing to make change.
Whenever you’re ready, I too am willing to journey with you. I’ll be here whenever you decide to book a session that will be the start of many more steps to come.
Ready. Set. Plan.
Edited by: Melysa Latham