What to Expect During a Financial Coaching Session

Want to talk to a financial coach, but you’re not sure what to expect? Maybe you’re nervous about seeking help in the first place. Hey—we get it. It’s intimidating to talk about money, especially your money.

The good news is, financial coaches aren’t counselors. They won’t rehash your mistakes and dwell on what went wrong in your past. Coaches focus on the future. They want to help you find a specific, achievable plan for your situation.

What Is a Financial Coaching Session?
How Do You Prepare for Your Coaching Session?
What Will Happen During Your Coaching Session?
What Will You Walk Away With From Your Coaching Session?

A financial coaching session is a meeting between you and your financial coach. You’ll focus on where you are now with your money and where you want to be—and your coach will help you make a plan to get there!

In a session, you’ll get the chance to unpack your financial situation—along with your worries. Maybe you’ve taken on too much debt. Or you can’t figure out how to get on the same page with your spouse on spending. Or you’re a little freaked out about being able to afford retirement. Listen, it’ll feel good to share this with someone who’s professionally trained to guide you—someone who’s in your corner and has the compassion, skill and knowledge to make a real difference in your life.

To give you a clear picture of what to expect from your time together, we asked Dave’s team of financial coaches to walk us through a session—before, during and after. Here’s what they had to say:

First of all, don’t worry about gathering years of tax documents and bank statements before your coaching session. Your financial coach will email you a few simple forms to fill out and submit. No. Problem.

So, what are these forms? One is a short money snapshot, and the other is a basic budget. The money snapshot tells your coach how much you earn, how much debt you owe, and your top concerns or money questions for the session. And the budget is a list of everything you spent last month—from your water bill to your student loan payments.

Listen: You need to be accurate when you fill out these forms. (That means no best guesses!) Your coach can’t help you unless they know exactly what’s coming in and what’s going out. So, be honest.

And hey—don’t be shy or feel ashamed. You can trust your coach like you trust a friend.

Related: 30 Money Tips From Dave's Financial Coaches

When you arrive for your session (or call in for a phone or video conference), your financial coach will have already reviewed your forms. After getting to know you for a few minutes, they’ll dive right into your most pressing financial issues.

Since every client has different needs, every coaching session will be different. But there are a few common topics—like communication, debt elimination, and saving for large expenses, college or retirement.

The majority of clients also need to focus on creating a realistic budget. That means setting budget amounts that make sense for your life and thinking ahead about purchases that frequently bust your bank account—like birthdays, vacations and even Halloween costumes. Coaches can walk you through how to make a budget that actually works. For you!

Successful clients move the needle as soon as possible after their session. That’s why your coach will give you action steps to follow almost immediately.

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These might include tweaking your budget, creating a plan to get rid of debt, and setting goals—big and small—for the next few years. You might also brainstorm other income opportunities to pay off debt faster (we’re talking a second job or side hustle) and smart ways to stay out of debt in the future.

So, you won’t leave your session with all your issues magically solved. (Your coach isn’t a wizard, after all. And there’s no magic money wand.) But you will leave with tools to solve them yourself. Think of your financial coach as a personal trainer. They’ll show you what to do and how to do it, but the heavy lifting is up to you.

Ready to do this? Try one-on-one coaching with a Ramsey Preferred Coach and start making your specific plan to meet your financial needs!