The Many Faces of a Financial Coach - Eric Black - Financial Coach Academy

The Many Faces of a Financial Coach – Eric Black

The purpose of The Many Faces of a Financial Coach blog series is to inspire up-and-coming and veteran coaches alike. Our mission is to show the beautiful uniqueness to coaches overall while telling their story, describing their niche and allowing them to offer tips & advice to other coaches. Profiles of coaches are not necessarily participants or graduates of the Financial Coach Academy training program (although some are). It’s purely for inspirational purposes only.

Name

Eric Black

Website

www.financialfreedommentors.com

When did you start your Financial Coaching business?

March 2018

Tell us about your journey to becoming a financial coach.

I had been in the I.T. field for 20 years and had lost the passion. I was feeling adrift, trying to find my purpose. Having dug myself out of debt and financial strain and being well on my way to financial freedom I began helping friends and family who would ask for advice on getting out of debt, saving money and/or investing in real estate, which is one of my areas of expertise. I am working toward transitioning from a side hustle to making it my full-time career.

Why did you become a financial coach?

Like most people, I never got a financial education growing up. My parents didn’t talk about money around us. All I knew was “We don’t have the money” was a common response in our house.
In my early adult life I was married, young in my career and already heavily in debt. Primarily through self-education I learned about getting out of debt and investing in real estate. Using these techniques I was able to pay off all of my debts and continue to invest in real estate.

Having felt the extreme relief of being out of debt and in control of my financial life, and after helping a number of friends and family start to get out of debt, save money and be in control of their money I realized that was my purpose. I want everyone who is in debt to have that feeling of the weight being lifted when they are debt-free. I want everyone to feel in control of their financial lives, and I want everyone to be able to live their own definition of financial freedom.

Who is your ideal client? What is the main problem you help your clients solve?

I have found I am best suited to help individuals and couples who are making a decent living but who are in debt either because of poor financial education, poor spending habits, repeated unexpected expenses and/or making up for past mistakes and who need a little extra help or push to move them toward their financial goals.
In addition, individuals and couples who are either debt-free or have only small amounts of debt but who aren’t sure how to make their money and savings work best for them have benefited from my experience as well.

What is a strategy, tip or piece of advice you give your clients often?

If you aren’t already, review your credit card and/or bank statements every month. I have found that so many people never look at them. We have found clients who are paying for two subscriptions, or even two gym memberships because they forgot to cancel one! It takes just a few minutes and can save them from throwing money away.

What is a strategy, tip or piece of advice you could give to other financial coaches?

For new coaches, start slowly. It will take time to refine your processes and procedures. If you take on too many clients at first you won’t have as much time to evaluate and correct as you go. Starting slow is better than giving poor quality service.

What is one thing you learned the hard way when it comes to being a financial coach?

You will have to get out of your comfort zone in some way. You may be great talking with strangers but hate working with technology, or vice versa. You just have to be persistent and work through those barriers.

 

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By | 2018-03-21T19:43:38+00:00 March 28th, 2018|

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Financial Coaches Unite

A supportive Facebook community for aspiring and trained financial coaches!

Roll up your sleeves, ask questions, share ideas and learn from one another on best practices for running your financial coaching business! The more successful we are, the more people we can help and the better our world can become!