As a Financial Advisor and Money Coach, I was interviewed several months back, and I found I had to summarize my advice into simple, straight-forward comments. I think everyone can find something in these comments to help them in the New Year.
The first question during the interview was, “Why do you call yourself a Money Coach?” Money Coach is a generic term that describes what I do. My official title is Registered Investment Advisor. What I do, however, is educate, encourage, and provide feedback. I am a coach, I don’t run the race. I prepare you for the race and congratulate you when you finish. Note that an “Investment Advisor” is first and foremost an advisor. You and only you are in charge of your financial life. Never turn over that responsibility to an outside financial person. Yes, seek his help, but make the decisions yourself.
Here are my comments:
“When you are in a hole, stop digging.” Meaning that if you are overspending, stop spending. Put that credit card away and concentrate on paying off your debt.
“The biggest secret to retirement is to save early and save a lot.” Simple as that. Remember that for every day you work now, you must make enough money to pay for that day and for one day in the future when you will be retired.
The biggest component of your credit score is paying your bills on time.” Enough said.
Your kids watch everything you do.” If you, the parent, have poor money management skills, how do you think your children are going to turn out? It is a parent’s responsibility to prepare your children for the real world and that includes the real world of money.
“You need only two things for financial success.” Education and the right attitude. Work hard on acquiring both.
The key to success in anything you do is ENTHUSIASM.” This is part of the attitude thing.
What I am trying to say is that, “family finance is mostly common sense.” So let’s use some common sense in 2013 and move to improve your Money Matters.
