7 ways financial coaching changed my life

Updated: Jun 5, 2021

I stumbled across financial coaching by accident and my goodness it has changed my life forever and for the better.

As a financial planner, I would never have thought about any other way of helping my clients to manage their money, other than telling them what to do and coming up with a solution on their behalf. I’m the expert, right?

Financial coaching has opened my eyes to a world of possibilities and empowerment.

If you focus on the things that matter right now, working instead on your relationship with money, you won't necessarily need a solution to your planning problems down the road. If you work on your limiting beliefs that manifest in your financial habits and behaviors up front, then you will be able to create more wealth over time and live a more fulfilling life. As well as having more confidence to save and invest for your financial future.

Financial coaching is the FIRST step to finding your financial freedom because it builds foundations for you to do things you need to for yourself.

Here are the 7 ways financial coaching has changed my life!

1 - Mindset is everything

Taking advice isn’t the best way to make money.

You first need to have a positive relationship with your money to allow yourself to create the wealth you deserve.

Your inability to make money, and then to manage it effectively day to day, comes from your subconscious beliefs that manifest in your financial habits. If you believe that you are not worthy, you will sabotage your own success with money.

I know this because after becoming a financial coach, despite being a financial expert, I discovered I was doing this myself. Every time I achieved a pay rise in excess of my money barrier I resigned from my job and retrained in a different role to start climbing the ladder again! This was all down to the fact I did not believe I was worthy of my level and pay, I felt I was an imposter. Once I addressed this I was able to break through my blockers and push forward.

This is just one example. Over 90% of financial decisions are made by our emotions not our logical part of our brain, so having the right mindset is key to your financial success.

If you want to be wealthy you need to manage your emotions so that you have the mindset to then manage your money. And when I say manage your money, I don’t mean knowing how to set up a pension or an investment, I mean managing the basics. Getting the day-to-day right is where the magic happens, this is where you find your abundance. Making every £1 work for you.

2 - I have learned to leave my ego at the door

Through my training as a financial coach, I have discovered that what I think doesn’t matter.

It’s what my client thinks, feels, and believes that is vital to their success.

As a financial adviser, my role was to advise my clients. Therefore I would always be listening out for things the client said that would lead to a solution for them and I was there to sell them a service to meet their needs. This is what they paid me for.

With a history as an adviser, it is inevitable that my own financial beliefs will crop up now as I work as a financial coach. But I have learned to move past my own beliefs and focus entirely on want my client believes. Even if I don't agree, it is what they believe that is fundamentally important to their plan.

I will only offer insight or my expertise if I can truly show it is in my client's best interests to do so. We are taught to ‘solutionise’ and this is a skill I have had to let go of to be a great coach.

3 - My clients set the agenda

I always turned up with my pre-prepared agenda as an adviser, ready with my to-do list to tick off my regulatory duties and to sell my offering. The client's agenda was to sit back and have a catch-up over tea and biscuits.

As a financial coach, the agenda is well and truly led by my clients. Every coaching session I have is truly unique and depends entirely on what they to achieve in our time together.

Turning up without an agenda to a meeting is scary. I have learned to trust the coaching process. But I have seen first-hand that the client needs to set their agenda. This is the only way that they will be motivated to take action. When I have tried to set the agenda the client hasn’t got the most out of our time together.

A great coach shows that they don’t need an agenda, intuitive questioning and learning how to listen deeply is when the magic happens.

4 - Being told what to do with your money isn’t motivating or effective

This is something I have had to see in practice as a coach. But if you are to take action you have to come up with the solutions because if it isn’t your idea you are unlikely to implement it.

I don’t mean that you shouldn’t take advice to switch a pension or set up an investment, I mean the extra advice you get around your financial plans.

For example, I worked with a client that needed to make his pension last his lifetime. I worked hard on the investment strategy to generate £5k a month income so his pot would last his lifetime. BUT his plan was only going to work if he spent £5k a month.

And guess what, he overspent every month because he had financial habits that were deeply rooted in his long-term subconscious beliefs. Me telling him what to do wasn’t going to change his habits of a lifetime. And because I had told him to, he wasn’t offering this up, he wasn’t motivated to do it so he didn't!

5 - Not everyone thinks in the same way

I discovered that even though I LOVE facts and figures, I am in fact 75% right-brain orientated.

I didn’t even know that it mattered what side of the brain we use.

But boy does it make sense. Left-brained people tend to be stimulated more by reports, forecasts, and excel spreadsheets. Right-brained people are the opposite and tend to be stimulated visually.

Although I love a spreadsheet I love to visualise my future, using vision boards as inspiration.

When I get to know my clients for the first time as a coach I now ask them to take a short brain quiz and this helps me to know how best to stimulate them through our coaching sessions. Take the test, I’d love to know what side of the brain you operate from: https://www.mentalup.co/blog/right-brain-left-brain-test

It makes me shiver thinking how all those years I presented complicated reports to my advice clients no matter what brain they were! I didn’t know that this would have been an issue for them. That they may not have understood the report I was showing them. Despite this, I have always strived to help my clients understand and would often draw pictures to explain complicated products or scenarios, using cash flow to bring to life financial forecasts.

Perhaps this was the right-hand side of my brain kicking in to help me help them?

6 - Financial coaching is a THING

Financial coaching isn’t a ‘woo woo’ money mindset thing. It is a certified proven process that is supported by the financial services sector. So much so that now many financial planning businesses are bringing financial coaching in either as a central part of their process or as an added value service!

Financial coaching is revolutionising the financial services sector for the better. It is the FIRST vital step to take if you are to manage your money effectively and become wealthy in the first place.

Financial coaching is unregulated so anyone can call themselves a financial coach. However, I have trained with Catherine Morgan, founder of the Money Panel, through her “Financial Coaching Training Programme” https://themoneypanel.co.uk/. This means I have been trained on a proven process that will change your relationship with money enabling you to create a new Money Narrative that will serve you. Every two weeks I practice my skills as a coach with Catherine’s community where I get to be coached on my own money blocks!

7 - Community is vital to success

A community of like-minded people is everything. Through financial coaching, I have found a group of people that care immensely about those they serve and about themselves. Financial coaching is about finding your self-worth, through your client's joy and your own.

There is a growing community of financial coaches that I work alongside, even though we all run our own businesses.

I am proud to be one of the first to lead this industry into the center stage it deserves to be.

Discovering financial coaching has been the icing on my career so far, not only can I help others lead their best life but I get to live my best life at the same time. 💗

Email me at hello@emmawrightcoaching.co.uk to explore whether you have any new devils you aren’t even aware of.

Download my new Guide to Financial Freedom here:


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It's time to focus on your finance and find your freedom.

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