It’s funny how things have a way of unfolding. I started this blog to chronicle my musings about personal finance, to create a soundingboard of how much I still need to learn about getting my financial house in order. And in the process of writing about how much I don’t know about personal finance, I’m suddenly fielding questions about investments, savings and whatnot. Essentially getting questions because people think I know something.
Anyway, I’ve been money coaching a few friends these past few months. I thought that being a financial advisor merely entailed crunching numbers and then going about my merry way, but apparently, money coaching is essentially about showing tough love and ensuring that your client follows through on the goals that he/she personally set. It really is 90% personal and only 10% financial.
At first I thought I’d be overwhelmed by how much interpersonal skills it entails because to be honest, I find dealing with feelings messy and over-indulgent. I tend to roll my eyes on people who act based on their feelings and go on and on about what they’re feeling. I like dealing with facts and find that feelings just eff up the equation. But at the same time, I do want to help, specially when I see that the person reaching out to me wants to change and just needs a little nudge in the right direction.
I was also insecure about acting as a money coach because hello, have you seen my emergency funds recently?! Talk about pitiful. So where will I get the moral ascendency to help others when my own financial situation leaves much to be desired? But then I realized that it’s not about how fat my bank account is. In fact, I don’t think that Randell Tiongson and Efren Cruz start each client meeting by showing their bank accounts and portfolios to prove that they know their stuff. The bottomline is that you’re willing to go out of your way to help when asked for it.
I still don’t know where this money coaching will take me, if it’s something that I can parlay into an actual career. But you know what, I really don’t care at this point in time. It fulfills me when someone I know is opening up about how deep in debt her family is, but that they’re finally taking the needed steps to wipe out their debts. It makes me happy when people choose action over inaction.
And if I can be a part of their road to financial independence, then that would be swell too.
Happy Friday everyone!