I have had this idea to help others with accountablity with budgeting, spending, saving, etc. Kind of like a personal fitness trainer...the general public knows you need to eat well and exercise to lose weight/stay fit...but like/need the coaching. I want to be a financial coach...cheerleader/mentor/teacher. I am not looking to sell financial products such as IRA's etc. I checked with my state and I do not need a license to "coach".

My question to my mommysaver friends is...help me brainstorm the pros/cons, fee, ideas to make a success, marketing ideas, etc. If you were to hire someone like this what questions would you ask, what concerns would you have, etc..

Just let it all out...tell me what you think.
Angie

That is cool. The target market is people who don't have money or need help.
Are you going to have products to sell? Workbooks? or a less expensive way to a website? that way people can purchase and or buy a month or 2 for your website access? Kinda like a motivational speaker.
Hold seminars for college kids, seniors, first time home buyers and single moms or dads. So for ex: if it was for college students: the college would set up the seminair and pay your fees.. ex: seniors the town or assisted living place could help or pay fee?
I have no idea what to charge? I know motivational speakers get around $1200-$2200 for 3 hour seminair. That seems very high to me, but JMO. But they are worth it in the long run!

I do this as a volunteer thing. I meet with clients once a month and set out goals for the next month. A lot of it is giving them the freedom to talk openly about a subject that normally taboo and guiding them in some basics of finance ... no fee banking, savings, getting out of debt, keeping a budget binder (writing down what they spend), tracking their net worth, etc etc. 95% of it is stuff that you and I and nearly everyone on these boards know but it is AMAZING to me how many smart people are out there with great jobs and they don't know the first thing about money. My role is to encourage them (like a personal trainer as you say) and teach them as we go. I love it.

I don't charge anything. Many people have said I should go into business doing this but when I'm trying to teach people how to save money, it feels kind of funny asking them to spend money to pay me.

__________________
Mom to dd (age 9) and ds (age 11)
blogging daily about purpose and personal identity