Personal Finances

I provide financial coaching for individuals who are interested in gaining greater financial intelligence and using it to improve their life.

I have learned that most people, even in the relatively rich Western countries, struggle with their personal finances. There are plenty of financial advisors out there, telling people whether they should invest in stocks, bonds or mutual funds, but the problem most people face is that they do not have enough money left over for investing after paying their expenses each month. On the other hand, many of those who have some money are not using it very efficiently. I consider it the greatest failure of our public education system that even basic financial education is not provided in our schools. As a result, there is a high degree of financial illiteracy in our societies.

My process usually starts with producing personal financial statements (Income Statement and Balance Sheet) for the client. These are the same financial statements that any business entity has, but I think they are just as vital for an individual person to have. Then we talk about what kind of improvements the person would like to see in their financial situation over the next 6 to 12 months. Finally we come up with specific targets and identify actions that the person can take in order to reach those targets.

The biggest benefit that I have observed in my clients is the empowerment and confidence that they get for understanding and being in charge of their finances. In many cases this is more valuable to a person than just earning more money. This increased confidence will help the individual in all areas of their life.