FAQS

ASK SHEILA

WHAT IS A MONEY COACH, REALLY?

They say, once you see it, you can achieve it. They’re right but getting from “seeing it” to “achieving it” can require a little help. A money coach clears away the financial fog so you can clearly see where you are and where you want to be. And a good money coach will work with you to set achievable goals and make sound financial decisions that are consistent with the life you want to lead.

It isn’t Sheila’s job to tell you to stop spending more on your cell phone than you do on your RSP. It is her job to make sure you know you are doing it and to work with you to decide if that choice is getting you closer to, or further from, your life goal. Whether you need to overcome debt or put money away for your future, she will work with you to ensure you stay on top of you financial situation and continue to work steadily and proactively toward your goal.

Sheila designs personalized financial programs that help her clients keep an eye on the prize while building their balance and their confidence to invest. Her advice and encouragement that will keep you focused, she will help you create the life you want with the income you have.

“I enjoy helping people achieve their dreams.” ~ Sheila Walkington    ^ top

WHO NEEDS A MONEY COACH?

Modern people, leading modern lives in a modern world. The world has changed and who we turn to for financial advice needs to change too. Mom and dad can teach you what they know, but does it really apply to your life? Banks are great for talking about checking accounts but they see you as just one of a million clients. The cookie cutter methods preached in some books can be difficult to apply to your unique situation and Financial Advisors are great at investing your money for you but they focus on your portfolio not your priorities.

A money coach will listen and help you design a strategy that is relevant to you. And because a strategy is only as good as its implementation, Sheila works to demystify financial decision making so that her clients get the tools they need to manage their own financial lives.    ^ top

Unique reasons people come to Sheila:

  • Both people in a couple are self-employed want to know how they will ever be able to buy a house with their high debt and unpredictable incomes.
  • A young contract worker who loves her current freedom to travel worries how she’ll maintain her lifestyle with no pension plan and little savings.
  • A couple with an age gap and a big difference in incomes needs help choosing priorities for the family pot that fairly represent both their needs and their contributions.
  • In order to provide for her children, a single mom learns ways to save and invest. The bonus is she is learning the best practices to teach her children as well.

Most common reasons:

  • Newly weds or common-law couples can learn to merge their financial lives without giving up their personal independence.
  • People who want to save for something big, a house, a car, or trip but can’t see their way past the monthly “necessities” that hold them back.
  • Widows and recently divorced women can get help organizing their finances, budgeting and saving for their future and their child’s even on a reduced income.
  • Women who just want support, and the peace of mind that comes with knowing they have someone helping them work towards their goals.     ^ top

I AM ALREADY IN DEBT, HOW CAN I AFFORD YOUR SERVICES?

Interest costs more than I do. The average household carries $8,000 in credit card debt. If you let that debt hangover you – you will pay up $1,500 in interest to the credit card company – per year!

The worst part is that having spent that $1,500 you won’t have learned anything except how to feel even worse about money. Paying interest costs you both financially and emotionally. To put an end to your debt you need a plan, determination and support to see it through. I will help you get out and stay out of debt.

Together, we will look at the behaviors or situations that got you to this point. This can be hard for people to do on their own, so instead they pay interest like it’s penance. I help people look objectively at their financial actions. In coaching sessions, you can leave embarrassment, guilt and the other emotional blockages at the door. When you do this, you will be surprised how quickly you gain financial clarity and confidence.    ^ top


SHOULDN'T I WAIT UNTIL I'M OUT OF DEBT BEFORE I START WORKING WITH YOU?

If you are already in debt, you need help now to gain control.
Lots of people feel they should ‘tidy up” a few things before they start working with me. That’s not the point, the messier the better. We’ll face the debt head on together. Getting out of debt requires a new perspective and a change in the behaviors that got you into debt in the first place. Within one year of working with a money coach, you will have less debt and more savings!

I will help you:

  • examine how you got into debt
  • design an individualized plan to get you out of debt
  • develop sound spending habits and positive financial thinking.

“I love that Sheila reminds me to focus on my goals, on the positive things I want to achieve, rather than being ashamed of my debt. It was a whole new way of thinking about money for me and it works!”    ^ top

I CAN GET FREE FINANCIAL ADVICE FROM MY BANK, WHY SHOULD I PAY FOR YOURS?

It’s a bank’s job to manage your money (yours and about a million other clients’). It’s my job to show you how to take control of your own money matters.

Paying to learn how to save can be hard to swallow at first. But think of the coaching as an investment in your education and life skills. Working with a money coach gives you valuable tools to manage your money both now and in the future.

As a coach, it is my job to assess your strengths and weaknesses, link your actions to your intentions and keep you focused on achievable targets. Our regular sessions help to keep you motivated and offer you opportunities to ask questions and discover new ways of thinking about your money and your life. Coaching isn’t about handing your money over to someone – it is about learning to handle your own money with confidence and clarity.    ^ top

Having a Coach Doesn't Cost. It Pays Back Many Times Over!

WHENEVER I ASK FOR FINANCIAL ADVICE, I'M TOLD TO BUY RRSP'S AND MUTAL FUNDS, IS THAT WHAT YOU SUGGEST?

Coaching isn’t intended to help you choose a savings plan. It’s intended to help you live the life you want with the money you have. Money Coaching starts with you, the client. Everyone’s goals and priorities are different. Together we figure out what’s most important to you in life and then make a plan to achieve it.

I work with clients in a lot of creative and exciting ways. We do talk about saving plans but not necessarily the kind you find in brochures at the banks. For instance, we may talk about setting up a savings plan for your travel account to save for that trip to Hawaii you’ve always wanted, or a fund for your maternity leave so you can afford to take a year off with your new baby. We may decide you need an account for clothes, or for tuition, or gifts, and then we’ll find a way to get the money into these accounts so it will be there when you need it. When your goal is clear, the motivation is there, and saving becomes worth it!     ^ top

COULDN'T I JUST READ A BOOK ON MONEY AND FINANCES?

Sure you can. How is it working for you so far?
There are lots of great books on financial planning, budgeting and money management, but unless you can accurately evaluate your current situation and put an achievable plan into action, all the strategy in the world won’t get you any further ahead.

One-on-One money coaching walks you through where you are and where you want to be. The examples aren’t from couples you can’t relate to or imaginary Sex in the City style characters – you are your own example. I help you to look at your own life, your own actions and your own dreams and together we will come up with a plan that you will want to put into action.

Coaching is as much about support and motivation as it is about education and skill building. And support is tough to get from a book. I’m not going to sell you trade secrets. Guess what? There is no magic formula. You and I will sit in a comfy room and talk. You can ask as many questions as you like and we will just keep talking until you have the knowledge and the confidence to go it alone. That’s what coaching is about – talking, listening, learning, practicing and winning!   ^ top

HOW DO YOUR SERVICES DIFFER FROM THAT OF A FINANCIAL PLANNER?

I don’t invest for you. With coaching, you invest in you.
Financial planners are great at looking at the long-term, big picture: Planning for Retirement and Investing for the future.

A money coach focuses on the day-to-day and month-to-month picture. A Money Coach can help you:

  • Stop living pay cheque to pay cheque
  • Save for the things you want, such as travel and vacation
  • Get out and Stay out of Debt
  • Understand your banking and investment statements
  • Educate you on your finances, so you can make informed decisions
  • Provide a third party, objective review of your finances and investments.

Your spending has a story to tell and so do you. I will listen and help you to make informed decisions about your finances. As you become more aware of your financial possibilities, you may find you would like a financial planner to make investments for you. Or you might discover you want to do it your own way. And you can!       ^ top

WHAT IS THE FIRST MEETING LIKE?

Free Initial Consultation
 I offer a free initial consultation. In that first meeting, we will review your finances. I’ll do a quick assessment of where you are at and what you are looking for. Then we’ll review my coaching services and fees and discuss how money coaching would best help you. It may sound like a lot to cover but it usually takes about 60 minutes, and I guarantee you will leave the meeting buzzing with ideas about what you can do to improve your financial situation.

What to bring:
1) When you register for the meeting, I’ll email you a Financial Fact Finder. You don’t need to complete it for the first meeting, but it helps to facilitate the conversation if you have looked at it and filled in as much as you can.

2) Feel free to bring any financial documents that you feel would be relevant to our discussion, such as bank, credit card, investment or pension statements. For example, if you are keen to talk about planning for retirement it would be great to bring your investment and pension papers. If you feel you need to focus on managing debt, you can bring your credit card statements and loan agreements. But don’t let the papers be a stumbling block.

3) Be sure to bring an open mind. The meeting is really quite painless. I have clients tell me that they came to the first meeting scared they were going to get in trouble, or that they were going to feel terrible about themselves. I want to assure you that I’m not here to judge anyone. Wherever you are at financially, my job is to focus your efforts to get you where you want to be. I look forward to working with you, and I think once you try the first meeting (at no cost to you) that you will look forward to working with me too.

Sheila was very sensitive right off the bat and was clear about what we could expect from her services – we started to feel relieved right away. ~ Richard and Ros

To book your free initial consultation, email me.       ^ top

WHEN DO YOU SCHEDULE COACHING MEETINGS?

Wed, Thurs, and Fri, I schedule meetings throughout the day, starting at 11:00 am. The last meeting of the day starts at 5:30 pm. Saturday meetings can be scheduled for 11:00 am, 1:00 pm or 3:00 pm.

My office is located a 1/2 block from the #3 Main Street bus stop at the corner of Main Street and 16th Ave. If you are driving, there is free parking out front.

To book your free initial consultation, email me.       ^ top

I WOULD LIKE TO TRY COACHING BUT I'M NOT SURE IT'S FOR ME.

A 30-day "100% satisfaction or your money back" guarantee applies to coaching fees.

Whether you have prepaid for one month or more, you would get the entire sum back. The 30 days start from the date of your first session. Credit card (Visa) payment or a cheque must be received prior to the start of sessions.

What clients are saying.        ^ top


 

 
 
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