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Why You Need a Money Coach

February 10th, 2025 Posted in financial literacy, Wellbeing
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In an era where financial decisions have a profound impact on our lives, having a money coach can make all the difference. A money coach is not just another financial adviser; they are your guide, mentor, and partner in achieving financial well-being and literacy. Here’s why you need a money coach and how they can transform your financial journey.

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1. Personalised Financial Guidance

One of the most significant benefits of having a money coach is the personalised guidance they provide. Unlike generic financial advice you might find online, a money coach tailors their recommendations to your unique situation. Whether you’re dealing with debt, planning for retirement, or just trying to get a handle on your monthly budget, a money coach takes the time to understand your financial goals, challenges, and habits.

2. Accountability and Motivation

A money coach holds you accountable and keeps you motivated. It’s easy to set financial goals, but sticking to them can be challenging. A money coach helps you stay on track by regularly reviewing your progress, providing encouragement, and adjusting your plan as needed. They are there to celebrate your successes and support you through setbacks, ensuring you remain committed to your financial journey.

3. Overcoming Financial Fears and Misconceptions

Many of us have fears and misconceptions about money that can hold us back. A money coach helps you identify and overcome these barriers. They provide a safe space to discuss your financial anxieties, helping you develop a healthier relationship with money. By addressing these underlying issues, a money coach empowers you to make more informed and confident financial decisions.

4. Education and Empowerment

A money coach is not just there to tell you what to do; they are there to educate and empower you. They provide the knowledge and tools you need to take control of your finances. Whether it’s understanding complex financial concepts, learning how to budget effectively, or navigating investment options, a money coach equips you with the skills to manage your money confidently.

5. Achieving Financial Goals

Whether your goal is to buy a home, save for a child’s education, or simply build an emergency fund, a money coach helps you create a realistic and actionable plan. They break down your goals into manageable steps, providing the roadmap to achieve them. With their support and expertise, you can turn your financial dreams into reality.

6. Long-Term Financial Health

The benefits of working with a money coach extend beyond short-term goals. A money coach helps you build a strong financial foundation that supports long-term financial health. They guide you in developing habits and strategies that promote sustainable financial well-being, ensuring you are prepared for future financial challenges and opportunities.

In conclusion, a money coach is an invaluable partner in your financial journey. They provide personalised guidance, accountability, and education, empowering you to overcome financial barriers and achieve your goals. By investing in a money coach, you are investing in a brighter, more secure financial future. Whether you’re just starting on your financial journey or looking to refine your financial strategies, a money coach can make all the difference. So, why wait? Take the first step towards financial empowerment and seek the support of a money coach today.

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Helping Kids Learn About Money

December 23rd, 2018 Posted in financial literacy, teaching children about money, teaching kids about money
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Has there ever been a more important time to help our kids learn about money? Record levels of student debt, lack of financial education in schools, unconscious spending through apps and games plus the movement towards a cashless society are all compelling reasons.

Did you know that research has shown many of our values and beliefs around money are formed by the age of 7?
This means that as adults, our money decisions are being heavily influenced by the ideas we picked up as kids, whether helpful, or for many a hindrance.

The Financial Fairy Tales are a fun way to introduce money ideas and tools from an early age. Concepts such as saving, investment, budgets and entrepreneurship are explored though stories set in a fairy tale world.

The Financial Fairy Tales Patreon - helping kids learn about money
The first 3 Financial Fairy Tales stories and Activity Book

We have big plans for 2019 and beyond which includes 3 new story books, more learning activities and an animation series. Above all we want to help more kids around the world grow up with a better understanding of money by providing the skills, tools and beliefs which will empower them now and in the future.

How You Can Help

By becoming a supporter through Patreon, you can help us continue our work in creating these stories and learning activities. Patreon is a website and platform where people just like you can choose to support creative and artistic projects – whilst getting lots of cool benefits for yourself.

Visit the Financial Fairy Tales Patreon page and help us to help more kids learn about money.

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We need to talk about financial literacy: things your kids should know

August 20th, 2017 Posted in financial literacy
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Personal financial literacy encompasses a range of money topics, from everyday skills such as balancing a checkbook – to long-term planning for retirement. Yet we live in a strange world where, unfortunately, not many people have learned to master the skill to properly manage their own finances.  Although there is a movement to include more finance-related coursework in elementary, middle and high school settings – parents and guardians are the primary educators when it comes to financial literacy for kids or teaching children to be financially competent.

Teaching children about financial stability and responsibilities can not only help them in their future when they lead their own personal lives, it is a great potential to change the country’s financial situation. When a generation comes along which has been properly educated about money, it means that the economy can get a very much needed boost.

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As a parent, the important thing to remember is: don’t shy away from talking to kids about money. Even if you lack in confidence in how you handle your own finances, you still possess invaluable experience and perspective that you can bestow on your children. Children as young as 3-years-old can begin to grasp the concept of saving and spending money by simply turning your day-to-day activities into learning experiences. Every trip to the bank, store or the ATM machine can be turned into a valuable lesson.

Your children can learn to save money from a very young age if you have the right approach. They’re not always keen on spending all the money the same moment they get it, so that’s an incredible opportunity to teach them about what they could do with the money if they saved it. The important aspect of this lesson is that they get the sense of delayed gratification for something they bought after some time has passed (while they were saving). It’s also a good way of preventing your child of becoming an impulse buyer – try not to let them spend all their money at once, no matter how much they wanted that special thing.

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Another good financial literacy lesson and example of teaching children to have a realistic approach to money, is to avoid telling them you can’t afford something. Children don’t usually grasp where money is coming from; therefore they won’t understand the reasons behind that statement. Instead, tell them exactly what the money is for: for example, it has been set aside for groceries, and groceries only, and if you buy a toy or candy – then you won’t be able to cook them their favorite lunch. With that comes the talk about priorities – what comes first, and what things come as a luxury or a treat that needs to be well-deserved.

Don’t let your children become misled by what they hear from outside their home or from peers – many children often spread misinformation that can be detrimental to your teachings. Some might even say that rich people are lucky for example – which can be harmful to their opinion. If your child believes that wealth is a result of luck, then they won’t have the right motivations to handle money responsibly. Teach them that only hard work and making smart decisions make people wealthy.

If you are interested in helping your children become more financially literate you may wish to take a look at the award winning Financial Fairy Tales books.

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As your child matures into a teenager, you should have already established the basic principles of saving money and being financially responsible. At this point, you can open them a bank account, and it may be a good idea to give your teen a basic credit card. Teach your teenager about saving long term and how interest affects them both with their savings and their spending. It may also be a good idea to let them take some accounting lessons. It won’t be long before your child ventures into the adult world and leaves the nest, so they should be all set when it comes to being financially responsible.

We need to talk about financial literacy: things your kids should know - financially savvy teen image

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By teaching your children about money, you help them discover the relationships between earning, spending and saving. In doing this, children also begin to understand the value of money. Don’t wait too long to teach your child the basics of managing money, because it will thank you later in the future. http://credit-n.ru/electronica.html

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What Practical Help Can I Give My Child When They Buy A Home?

February 2nd, 2017 Posted in financial literacy, Money Tips
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practical help to buy a home - dream home image

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For the past hundred years or so, children have always ‘had it better’ than their adults had it at the same age. But when you look at the instability in the world right now, it’s clear to see that this isn’t necessarily the case anymore. And parents of young adult children have a lot on their plates – not just financially, but practically, too.

One of the perfect examples of this is the price of buying a home these days. The ratio between the average property price and average wage has never been bigger. Work hours are longer. And parents who want the best for their children will need to contribute a lot, in many different ways.

So, if you are wondering how best to help your child buy their first home, read on. We’ve pulled together a few ideas for you that should help you negotiate the major issues.

Teaching

First of all, the best thing you can do with your kids is to help them understand the concepts of finances, mortgages, and interest from an early age. If you are new to this blog, please feel free to take a look around – we have hundreds of excellent advice for parents on teaching children about the value of money, and they can all help your child become financially literate and make better decisions.

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Planning

Parents should always be involved in the planning stages when their kids want to buy a home. It’s especially true if you are – like many other parents these days – contributing some money towards it. So, go through their finances with them, and look at a mortgage calculator with down payment details to see if the home they love will be a viable purchase. Don’t forget, while mortgage calculation tools will give your child a rough guide of what they can afford, the lender they approach might feel differently about their finances. With this in mind, it might be worth helping your kids find a professional mortgage advisor who can work with them to find a home that fits them best.

Contributing

There are various ways of helping your children out financially when they buy a home. You are allowed to gift them money each year, tax-free if below $14,000 (or $56,000 if both parents give to a child and their spouse), which a mortgage company will allow as a ‘gifted down payment.’ You can also offer a family loan – a sensible option if you want to teach your child a valuable lesson in lending and borrowing. This method means that your child gets a cheaper loan, while you can get your money out of a low-interest savings account and you could even charge your child slightly more to ensure you don’t lose any money. Finally, you can co-sign the mortgage. Using this method means you take away some of the financial obligations of buying the home – but bear in mind that you will then be under the lender’s microscope, too.

So, there you have it – any more tips to add? Feel free to let us now and join in on the conversation!

 

 

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Investing In Property Can Be So Simple A Child Could Do It!

December 29th, 2016 Posted in financial education, financial literacy, kids and money
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You might think that investing in property is quite complicated. After all, you will be dealing with large amounts of capital particularly when you’re buying homes or even apartment buildings. But if you make the right choices this form of investment could be a lot more simple than you ever imagined. Let’s start by thinking about finding the property you want to buy.

Finding The Right Property

When you go on the hunt for a property investment, you are looking for it to tick off a number of boxes. It needs to be selling at the right price which means you should be able to afford it with the money in your bank account. It needs to be in a great area that is thriving and has an infrastructure in active development. It should be in an area where the crime rate is low, and the community spirit is high to encourage buyers to invest. Or tenants to choose it as their new place to live. Most importantly of all, it should have massive potential to increase dramatically in value. How do you find a property like this? The best way is to get in contact with a property broker. They will present you with the best investments on the market right now that match your budget. Thus, you can make sure that you find and take advantage of a fantastic opportunity.

Fixing It Up

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Once you’ve bought the property you then need to think about fixing it up and making it look attractive. Either to tenants who are looking to rent it out or to buyers who are hoping to turn into their own dream investment. You can fix up a property with very little trouble at all. You just need to make sure that you are hiring licensed contractors and designers. This will ensure that any work you complete on the property is above board and legal. It will mean you can avoid getting financial headaches further down the road. It’s always a possibility but one that is easily avoidable if you hire the right team to work on your property. One thing you want to avoid is too much DIY work. While this can seem like a way to save money, if you’re not skilled or qualified it can lead to the same problem.

Managing The Property

If you’re investing in a property to lease it out you do need to think about management. But this can be easy too because you can use a residential property management service. This will ensure that your property is always well maintained and looked after even if you don’t have time. We know what you’re thinking. Is that just another additional cost? Indeed, but it will save you from the financial issues that develop when a property needs emergency work. With the right service, it will never reach this point.

Keeping It Modern

Lastly, you do want to but a small amount of cash to the side each year for upgrades and improvements the property. This will ensure that you have enough to keep the building looking modern and contemporary. Depending on the size of the building, a few thousand should be enough to cover this.

That’s all there is to it. You see, investing in property can really be so simple you could put your child in charge of this investment.

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