Recognizing that information alone may not be enough to help individuals change their behavior and reach their financial goals, financial coaching can be offered in counties where UW-Extension educators or volunteers are trained in coaching. Financial coaching is a collaborative process in which the coach and family work together, usually checking-in once a month, to reach long-term financial goals.
Financial coaching is not right for every family. But if a family has a financial goal in mind that they’d like to work on, coaching is a great fit. Examples of some financial goals include balancing the monthly budget, paying down debt, saving for a car or home, or improving a credit score. Sometimes people might not have a specific goal although they know that they are not happy with the way things are now with their money. A UW-Extension financial coach is a helpful sounding board for figuring out where to start.
To learn more about financial coaching, check out UW-Extension’s coaching website at: Financial Coaching Strategies