A woman reviewing her finances with a life coach

Boost Your Finances With A Professional Life Coach

Are you feeling stuck in a rut? Would you like to have another person you can talk to about your problems, someone who can give you valuable advice? Your best friend may be your go-to armchair therapist, but some issues require a real professional. If you’re looking for someone more qualified to help you than your best friend, then you might consider hiring a life coach.

What do I get out of it?

A life coach can help you in all areas of your life. For example, if you work with a life coach on communication skills, you can make your work life and your home life easier. Being able to communicate effectively is a skill that will help you in the workforce, from salary negotiations to big presentations. At home? You might be having relationship troubles because you have trouble communicating with your significant other.

Any work that you do with a life coach that positively affects your work life, will improve your finances by extension. From a more direct perspective, a life coach can also get hands on and help you manage your personal finances and life in general. For example, they can help you build (and stick with) a reasonable budget, declutter your home, and make plans for home-cooked, budget friendly meals.  (And the extra money coming in probably won’t hurt your love life, either!)

Sign me up! Wait, how much does it cost?

There’s a pretty big price range for professional life coaches. When you’re shopping around though, you should know that there are a lot of different kinds of life coaches with different specialties, such as business or finance. Many coaches charge by the hour, while others charge by appointment or by month.

Most coaches charge between $75 and $200 per hour. Upscale coaches will charge more, while other coaches could be cheaper. Some online life coaches charge closer to $50. Their services are cheaper because they work with their client online instead of by phone or in person. Before going straight for the budget option, keep in mind that different life coaches may also have different training or amounts of experience that may make the splurge worth it.

Since there are so many life coaches, there are also several ways that the billing will go.Some coaches require a contract, others let you pay by the session. If you’re really invested in what the life coach has to offer, then a contract may not be a bad idea! Others may offer a sliding scale of fees to help out lower income clients or several free sessions so they know you’re a good fit for each other and it won’t be a waste of time.

Okay, sounds great...what’s the catch?

Well, working with a life coach can get pretty expensive. You’ll have to decide for yourself if you feel like the benefit is worth the cost. It isn’t a cure-all and a life coach can’t replace a therapist or counselor, but they are certainly beneficial for many.

If you’ve decided to hire one, great! Just watch out--life coaching isn’t a regulated industry. You should pick someone who is accredited and who is a member of the International Coach Federation. You’ll need to do your homework before you choose a coach. Hire someone trustworthy, who is good at their job, and most importantly, that you feel comfortable with

Last Updated: January 05, 2015