Are Financial Coaches Needed?

I almost spit out my water the other day when someone said there were too many financial coaches.

Say what now?

Let’s start by thinking about who financial coaches help.

Everyone touches money. It’s the game we’re all forced to play, so unless a person lives off the land, chances are they touch, use, handle, and think about money.

But let’s drill into this a bit more.

Did you know that 64% of Americans report that money is a major stressor in their lives?¹

I see this one being shared amongst financial experts often: “61% of Americans live paycheck to paycheck.”²

But did you also know that:

• 42% of top earners (those earning $100k or more) and³
• 36% of super earners (those earning $250k or more)⁴

also live paycheck to paycheck?

We are so needed, y’all.

Here’s a statistic that absolutely SHOCKS me. Prepare yourself.

The average American spends less than 4.5 hours per year of their time dedicated to managing their money.⁵

I’m dying.

4.5 hours? Per YEAR? Managing the thing you touch every DAY? Managing the thing that provides for everything else in your life? 4.5 hours!!!!! I can’t…

We are so needed, y’all.

Financial Struggle Defined:

There are so many people experiencing financial struggles, but struggling doesn’t necessarily mean “crisis.” I define financial struggle as 1) not using money as a tool to create your best life (you’re just winging it) and 2) making decisions for short-term gain over long-term impact or value. There are so many varying levels and causes of financial struggle.

Financial stress has been shown to increase the severity and frequency of ulcers and migraines too.

Money’s Role in Achieving Your Goals:

When I think about who needs financial coaching, here’s another thing I think about…

Think of any goal you’ve ever had in life – whether it’s a money goal or not – and chances are, managing your money effectively would make achieving that goal happen easier and faster.

Money is a common thread between all of our decisions, opportunities, and challenges. It’s the tool we use to live our best lives.

The Versatility of Financial Coaching:

It doesn’t matter a person’s goal, income level, profession, or anything else – chances are a financial coach could help them. And there are very few of us who are positioned to help people with the day-to-day part of their money. The part that is causing the most stress, illness, depression, apathy, indifference, confusion, self-doubt… sadly, I could keep going…

We are so needed, y’all.

Now think of all the financial advisors, realtors, massage therapists, landscapers, [you name the profession] that exist in our world.

Compare that to the number of financial coaches.

We are nowhere near market saturation for financial coaches, and I don’t believe we will see that in my lifetime.

So, are financial coaches needed? Hell yes we are.

You are needed, Financial Coach. Don’t let anybody tell you otherwise.

As always,  I’m honored to be a part of your financial coaching journey.

To figure out your next step in your financial coaching journey, join me, Kelsa Dickey, for my next FREE workshop: