In Financial Improvement, Goals, Personal Finance

More often, people are turning to professionals for guidance and advice to improve every aspect of their lives: personal fitness trainers, celebrity chefs, interior designers, and “super nannies” are some examples. I think it’s great that people are more likely now to consult professionals if they aren’t sure how to proceed. Financial planners have long been great resources for investments and insurance, but there can be so much more to your financial picture! If the advice you seek is related to building a budget, getting your spending under control, paying off your debt, or building up your short-term savings, then you might benefit from working with a money coach.


The best way for me to describe a money coach is with a fitness analogy… a money coach is like a personal trainer for your money! Just as a personal trainer would show you what steps you need to take (i.e. what exercises to do and for how long, what and how much to eat, etc.) to achieve your fitness goals, a money coach shows you what steps you need to take to achieve your financial goals. A money coach shows you how to create a realistic budget that allows you to achieve your short-term financial goals, then holds you accountable to keeping your spending within your budget so you can achieve those goals. Check out the introduction video on the homepage for more details on this.


At Dr. Budgets, we believe the foundation for a good financial life is setting a realistic spending plan that balances your goals and your wants in a way that allows you to live your life in the present, while simultaneously making progress toward your financial goals. Being unbalanced in either direction is counterproductive, less gratifying, and, often, unsustainable. Building your financial foundation with healthy spending habits leads to paying off debt and building savings. This then opens up all the possibilities for living a wealthy life! And, once you have worked with a money coach to get you there, then a financial planner becomes an integral part of your professional financial team.


Much as a person interested in getting healthy might work with their doctor, a dietician, and a personal trainer (depending on their needs), working with a money coach can be complementary to working with a financial planner. Our mission at Dr. Budgets is to empower people to wisely employ their financial resources to achieve their goals – and I believe this mission aligns with what a financial planner wants to achieve for their clients as well. In fact, I end up having a synergistic relationship with financial planners in the community. Ultimately, we both want the same outcome for our clients… we want our clients to make good financial decisions, so they can live a wealthy life! The only difference is that financial planners and money coaches work on different aspects of a client’s financial life to achieve that outcome. I was a financial planner before I started Dr. Budgets, so I would know.

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