I recently asked the following question on Twitter (via @joesangl): “What does it mean to be a “COACH”? What does a COACH do?” The responses were awesome and are shared below:
- @Shelton_22: @joesangl A coach must Love, Develop, Motivate, Construct, Encourage, Prepare, and Inspire an individual for the future.
- @peteraug: @joesangl brings out the potential in others
- @CynnamonClinton: @joesangl A coach, teaches, leads, motivates, and instructs based on their own achievements, mastery & experiences!
- @RealAustinHall: @joesangl to lead, motivate, be an example, inspire, encourage, discipline, show compassion, challenge and direct towards a common goal.
- @PaulJolicoeur: @joesangl A coach comes along side, to push you beyond where you thought your limit was!
Every single successful person I know has had someone in their life who provides coaching to them. So-called “self-made” persons KNOW that they have achieved greatness because of the help and coaching of others!
This is why I have three financial coaches.
When I was broke, I realized I was seeking advice from broke friends! It was like accepting long distance running advice from a sumo wrestler.
Proverbs 15:22shares, “Plans fail for lack of counsel, but with many advisers they succeed.”
I was broke, and I knew wisdom was necessary for me to change my financial life. I established desired criteria my coaches should possess:
- They had to love me.
- They weren’t interested in selling me anything.
- They had availability to mentor me.
My financial coaches helped me change my life!
Do YOU have a financial coach?
“You need a budget.”
Chances are pretty high that you’ve heard that statement before.
If you are a saver, your heart started beating wildly (because you LOVE budgets). If you are a spender (like me), you probably felt the hair raise on the back of your neck and immediately felt flashes of frustration.
So this post is written primarily with the spender in mind. Savers: feel free to print out and show to your spender spouse or friend!
5 Reasons Why BUDGETING Is Important
- It maximizes every dollar you earn. As a spender, I can “accidentally” spend money. Preparing a monthly budget (and an annual budget once each year to cast vision for the future) allows me to know that money is limited and ensures that I maximize every dollar I do receive.
- It makes you aware of your impulsiveness. This is not the most pleasant feeling, but it very helpful to be reminded that it is much easier to remain broke than it is to win with money. My budget ensures that I am continually aware of my impulsiveness and the danger that presents to my long term goals.
- You can buy stuff without feeling guilty. This is probably my favorite reason for budgeting! I used to play a round of golf and feel guilty because I knew it wasn’t in the budget (because we didn’t have a budget). I’ll never forget the day that I was able to just go enjoy a round of golf and KNOW it was in the budget and I had planned for it! It didn’t help my golf score, but it did help me and my marriage!
- You have probably married a saver (or if you aren’t married, and hope to be some day, you will most likely marry a saver) I married a saver. Jenn is a beautiful and amazing bride, but she just does not have any desire to go spend all of our money. So when we didn’t have a budget, I nearly drove her crazy with my random ATM cash withdrawals and surprise expenses. I am certain she was the one celebrating the most when I finally “got it” and began participating in the monthly ritual of planning our spending and following that plan!
- Budgeting will fund your dreams faster. I know that I said #3 is probably my favorite, but I’m taking it back. This one is my favorite! I love funding my dreams. Because of budgeting, my family has been able to give more money away than we ever thought possible. We have been able to take wonderful cash-paid-for-in-advance vacations, pursue our dream of launching this organization, and pay off our house! All in 10 years and 1 month! I can’t WAIT to see what happens in the next 10 years!!!!
There’s my list. What would YOU add to it?