We help people understand how to pay off card card-debt or create a budget without running around in the dark toward a concrete wall (let’s be honest–that’s what paying off credit-card debt feels like). When your efforts fail, you don’t know how to get out of debt with bad credit, and your stress keeps growing, it’s time for financial coaching.
- Whom do you turn to?
- Where do you go to get help?
- Do people even budget anymore?
Yes, they do budget, and we get it and we can help. Keep reading.
- On the “I have money” side of finances, there are investment advisors and financial planners. They invest your money to provide for retirement and handle portfolio management, insurance and tax and estate planning.
- On the other “I don’t have a lot (or any) money” side, there are debt counselors or credit counselors that offer minimal support with strict budget limitations for people that are struggling with debt. Millions of people don’t fit into either of those categories.
- What if you’re earning good money but can’t figure out where it’s going or how to save or why you’re always in debt? If this sounds familiar, it’s one we hear all the time.
- Why has money become an emotionally charged issue with your partner? If you and your partner’s relationship to money is tearing you apart, it’s time to contact Resa.
You need a money coach! Aka Resa at Your Money Health
Resa is a no-BS financial coach who helps give her clients the financial-management skills to live within their means. What is a financial coach? Resa works with you to change your relationship with money. That might include teaching you about daily money management, how to create more savings, how to stop overspending or get rid of credit-card debt. It likely includes learning to live within your means.
But, of course, if having control of your money were just about making a budget and adding and subtracting, everyone would be in a state of financial bliss. The emotions around money are the game changer. Emotions are complicated, and they mess with your money. A money coach works with you to identify the emotions, attitudes and beliefs that wreak havoc with our finances. It takes long-term planning, commitment and financial management skills to get out of debt and live within your means.
A use case: A save-money challenge
Susan was in her mid-thirties and was feeling pressure to become more financially responsible. She lived in Chicago and had a good job as a city planner. While she made good money, she was still living paycheck to paycheck. She wanted to build an emergency fund and start saving for retirement. Most of all, she wanted to pay off her significant credit card debt. Susan didn’t know how to budget or save money.
Living within your means through financial coaching
Resa began working with Susan and together they broke down her spending. There were the bills that had to be paid—rent and utilities, healthcare and related expenses. But Susan was spending a lot of money on little things that ended up torpedoing her monthly budget. She and her colleagues went out two-three times/day to get coffee drinks from their local barista.
In the afternoons, they went out for smoothies
These smoothies, while healthy and delicious, were $10+/each. Between coffee and smoothies, Susan was spending $25/day on these drinks. And then there were lunches and meeting friends for after-work drinks. She invariably paid for these drinks and meals with her credit card.
It was these casual meetings and drinks that were derailing Susan’s efforts to save money. Since money never changed hands, it was easy to ignore the fact that she was adding to her credit card debt. This was a major focus for Resa and Susan. While being with friends is important, there are other ways to spend time with them without spending money.
Susan learned to create a budget
One line item was for coffee drinks and smoothies. She had a monthly budget for this, and she learned that she had to stay within these parameters. Resa helped Susan understand the emotions behind her need to spend money. It took a few years, but Susan paid off her credit cards and is saving money each month for retirement and her emergency fund.