Financial Coaching / Personal Coaching
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As a certified Personal Finance Coach and a Personal Coach trained in both Narrative Coaching and in the core coaching competencies of the International Coaching Federation (ICF), I will help you to explore new ways of being, to rewind and rewrite your own narratives/stories where you're struggling, to explore your purpose in a new season of life or career, to move past "stuckness" in areas that you are challenged by, etc...
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Personal Finance Coaching We explore not just the tactical tools that will help you with your actual finances, but we look at the whole person and environment and how those influence your mindset and momentum in achieving your financial goals.
Through a powerful 4 step “Gaining Clarity” exercise, you are able to Connect Emotionally to your “Why” and Tear Down Barriers that are holding you back from Maximizing the Effectiveness of Your Finances. Personal Leadership Coaching We explore areas such as:
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As you explore the information below about Coaching in general and then delve into more specifics of Financial and/or Personal Leadership Coaching, I invite you to consider how a Coach could partner with and support you in ways that would bring about catalytic Transformation. Bringing you to levels that you never thought you were capable of getting to. Unlocking your more authentic self and more of your human potential in areas of finances, relationships, self-worth, career, leadership, etc...
Coaching BasicsCoaching is a guided session between coach & coachee, assisting the coachee to sort out problems, set & reach goals, evolve, learn, and grow. The intention is for the coach to serve the coachee through accomplishing the following four steps (GROW):
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Coaching Code of EthicsICF (International Coaching Federation) is committed to maintaining and promoting excellence in coaching, with Ethical Coaching as their top priority. The ICF Code of Ethics is designed to provide appropriate guidelines, accountability and enforceable standards of conduct for all ICF Members and ICF Credential-holders. As an active member of the ICF, who has completed accreditation coursework, I am committed to uphold this code of ethics, as well as ICF's standards and core competencies.
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Coaching is... Coaching is a guided conversation between coach and coachee where the coach is:
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Coaching is NOT...
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FAQ: Frequently Asked Questions
What's a Financial Coach vs. a Financial Advisor (click me)
Financial Coaches are an integral asset and valuable complement to traditional Financial Advisors. Coaches and Advisors are both incredibly important and help people use their money more wisely to reach their goals. But they do different things, and in practice typically work with clients with different needs and at different stages.
Education & Behavioral Shift vs. Wealth Management: A financial coach dives into the emotional, behavioral, and educational side of finances. We work together with our clients to determine ways for them to embrace new habits that will support their financial goals. We focus more on the basics of personal money management, behavioral change, budgeting, and accountability, while financial advisors tend to focus on implementing financial products and strategies. And while financial advisors most commonly help to manage wealth that already exists, a financial coach works with a client to shift behaviors while imparting knowledge and skills, which will ultimately help them build wealth that a financial advisor can then help them with.
Concepts & Understanding vs. Products: Another major difference between financial coaching and advising is that coaches typically have no tie to products at all, unlike financial advisors who manage investments, sell insurance, etc. A financial coach educates clients on the concepts and workings of insurance, investing, diversification…., but we don’t provide advice on what specific funds to invest in, etc., nor are we licensed to do so. When a client is in need of products, like insurance, a financial coach will refer them to a professional in that area. Or when the client has accumulated some wealth, whether it be in retirement accounts or other monetary vehicles, a financial coach will refer them to a financial advisor.
Education & Behavioral Shift vs. Wealth Management: A financial coach dives into the emotional, behavioral, and educational side of finances. We work together with our clients to determine ways for them to embrace new habits that will support their financial goals. We focus more on the basics of personal money management, behavioral change, budgeting, and accountability, while financial advisors tend to focus on implementing financial products and strategies. And while financial advisors most commonly help to manage wealth that already exists, a financial coach works with a client to shift behaviors while imparting knowledge and skills, which will ultimately help them build wealth that a financial advisor can then help them with.
Concepts & Understanding vs. Products: Another major difference between financial coaching and advising is that coaches typically have no tie to products at all, unlike financial advisors who manage investments, sell insurance, etc. A financial coach educates clients on the concepts and workings of insurance, investing, diversification…., but we don’t provide advice on what specific funds to invest in, etc., nor are we licensed to do so. When a client is in need of products, like insurance, a financial coach will refer them to a professional in that area. Or when the client has accumulated some wealth, whether it be in retirement accounts or other monetary vehicles, a financial coach will refer them to a financial advisor.
What does a typical personal finance coaching process look like? (CLICK ME)
A typical process takes these steps, but Katalytic custom-tailors the process for each client:
- Build awareness around spending/saving habits. Most clients I work with have never made a budget or cash flow plan. And if they have budgeted, they often haven’t stuck with it for very long. So within our first session, we will walk through the budgeting process and how it actually empowers and frees – You are in control! You will determine exactly what’s coming in (income), what’s going out (expenses), and you’ll make sure that every dollar is told where to go. Digging in and going through the actual numbers is part of the your homework, but we revisit it throughout our time together. It typically takes 3 months to get a good working budget as you’re tweaking it over the first few months.
- Name your WHY and envision your Dreams. Since money is just a tool (not a goal in and of itself), I encourage my clients to explore and define the life they want to create for themselves and their families in the short-term, the medium-term, and the long-term. This challenges them to start thinking about what they really want out of life. We begin engaging in dreaming big and determining how to move towards those dreams. This takes some hard work, and we will explore your core values, your zone of genius, fears you might have regarding money or wealth… bottom line is, it’s your life, and you’re in control.
- Explore emotions and behavioral patterns. A coach’s job is to help clients explore their stories and the emotions within those stories, and to help clients identify patterns of behavior regarding finances or something related. This leads to uncovering the root of some of their financial issues/challenges as well as other things holding them back.
- Address limiting financial issues. After a small emergency fund is in place, we’ll work on a plan to manage debt and then work that plan to pay the debt down until it’s completely gone. This will take time, and we may stretch out our coaching sessions to give you time to knock down your debt. I will continue to encourage you in between sessions.
- Accumulate 3-6 months of expenses into a fully-funded emergency fund. Most financial coaching clients don’t have 3-6 months of expenses tucked away in case of a job loss or something similar. A financial coach helps the client achieve a shift in behavior/mindset and helps them create a plan to put the funds away each month in order to create a safety net -- a fully-funded emergency fund.
- Develop a spending plan and budgeting system that works well for that client. There are many budgeting tools out there: Everydollar, Mint, YNAB, or just a plain old Microsoft Excel spreadsheet. It’s important for each client to review the tools out there to determine what works best for their personality type and approach. I will guide you through this.
- Support and Follow-up. Upon completing the process, my clients often continue to engage me as a coach, as needed, for general questions, tweaking the budget, new life challenges, clarifications, etc.
How To Get Started
Your complimentary 30 minute consultation is customized for you and covers these 3 steps:
If you decide that you'd like me to partner with you, I will work with you to develop a detailed customized plan and will support you as you execute your plan to achieve your financial goals on your way to financial hope and freedom.
With Katalytic's guidance, you will make powerful discoveries and gain wise sustainable financial habits which will open healthy opportunities and possibilities for your financial future... Stop stressing, take control, and start living a life of hope!
- A discussion of where you are currently with either your finances or in your life. We'll explore your goal for coaching and begin to gain clarity and awareness on how you might move towards your goal.
- From there, I will provide high level recommendations on how you might go about achieving your objectives.
- You will also receive a recommendation and cost on how I can walk alongside you and guide you in the process.
If you decide that you'd like me to partner with you, I will work with you to develop a detailed customized plan and will support you as you execute your plan to achieve your financial goals on your way to financial hope and freedom.
With Katalytic's guidance, you will make powerful discoveries and gain wise sustainable financial habits which will open healthy opportunities and possibilities for your financial future... Stop stressing, take control, and start living a life of hope!
Testimonials
"I have had the pleasure of being coached by Kathleen over the past nine months and she has been a huge support for me as I work through various home and work situations. Kathleen is so easy to talk to and challenges me to go further to reach my goals. I really feel that she is 100% invested in ME and pushes me to new places. She helps me make sense of all the noise going on in my head and has helped me stay on course. Everyone needs a Kathleen in their life!"
~ Melodie Yong,
Manager, People Strategy & Stakeholder Engagement at Providence Health BC
Jan-Oct 2019
~ Melodie Yong,
Manager, People Strategy & Stakeholder Engagement at Providence Health BC
Jan-Oct 2019
"Kathleen has been my coach for over 6 months, while I have been going through some tough patches in my life. She has encouraged me to be more positive and look at every situation in different ways that have come up with life changing results! Every time we end our sessions I feel motivated and energized. I look forward to every session. Thank you Kathleen!"
~ Hilary Norcia, MPH, Spring/Summer 2019
~ Hilary Norcia, MPH, Spring/Summer 2019
"Kathleen has been an eye opener for me. She helped me see and realize things about myself that I couldn't see. Kathleen helped me have a different perspective on possible career fields, asking the right questions that had me thinking on all aspects of my life and led me to a more focused and prioritized action plan. I am very grateful that I got to talk with Kathleen because I now have a clear goal about my next steps.”
~Patricia Lopez, Spring 2019
~Patricia Lopez, Spring 2019