Why I Started my Financial Coaching Business
Around Christmas 2019 one of my husband’s colleagues, John (not his real name) committed suicide.
After he passed it was my partner’s job to review all of his emails, and the truth was that it seemed financial pressure and unpaid bills contributed directly to his death.
He earned good money and if someone earning this sort of money can still have financial pressures and live from pay to pay, and get so stressed there seems to be no way out, then I have a duty to educate people, to help them make better choices and to set up their finances so that they can move forward and not stay stuck.
I declared that it would be his legacy, to promote my services and help people who earned good money to stop wasting their money and be more on top of their finances. Mental health is a huge issue in remote areas – and I think some of it comes from not feeling like there is control over aspects of life such as how money is used and what you do at work and how it impacts the way you live your life.
As an accountant in Karratha since 2002, I had seen the effects of bad financial decisions on families, and knew I had the power to help change these situations.
After John’s passing, I wanted to be more proactive rather than reactive to support my clients.
From Life Coaching to Where Did My Money Go?
Then Life Coaching found me. I signed up to take coaching lessons as well as learn a 12 month program that I could teach to others, focusing on goal setting and taking action, as well as working on my own personal development.
This was brand new to me. I had only ever heard about Professional Development where you learn more to help your career. Now I was exposed to Personal Development and so there was a lot of personal growth for me!
Around the same time I took a trip to Fiji to a Business Chicks conference. I had never been overseas by myself before, nor spent this much money on something that was not 100% work related. As I was going all that way, I decided to add a couple of nights to the end of the trip to stay in a tiny island hotel by myself. This allowed me some space to unwind and relax all on my own.
It was during this time that I drafted a 6 week course that would help families learn more about how to manage their money.
As a mum and the money manager in the house, I felt the burden of managing the money and at times it was hard. I wanted to share the newly acquired skills I had in coaching and teach people the money management skills I had built up over decades as an accountant in Karratha.
This new course would help those holding the burden for their families. I help them to get the whole family involved and start having conversations about their current financial situation. And to start planning for the future!
My husband used to frustrate me with his spontaneous purchases that sometimes used up all the bills money. I am the saver in our household, and he’s obviously the big spender!
We implemented a system where each person in our household (including the kids) had their own bank account with a card and a set amount for the things they needed, like clothes, shoes, fun, plus a bit of extra spending money.
The mindset of having my own pocket money has changed my understanding of money management.
It is money for me to choose what I want to do, grab an ice cream, buy flowers, buy new clothes or shoes… and I can spend it or save it and be guilt free. It is joy and fun and no risk because it’s not going to impact the household budget and risk how much money is available for bills and debt repayments. This has been one of the biggest impacts to me and my family, as well as with other families I teach, to provide freedom and less stress for them, even if it’s $20 each per week.
To transform from being an accountant to being a Money Management Coach, I set up a business called Intentional Money Management Pty Ltd, with the philosophy that if everyone was more intentional with their money, there would be less stress and more rewards.
This year, I have launched the new course, coaching and support hub called Where Did My Money Go? I teach the practical skills of money management and guide my clients through a series of activities to help you get your family on the same page and think about the future together, to be connected and driven by the same goals to keep each other accountable.
My mission is to impact 200 families a year, by providing the skills and resources to get couples on the same page. To help reduce mental health issues by giving couples the connection to each other, by understanding what’s important to each person in the relationship and giving them tools to set up the purpose for their funds to live a meaningful life together.
The right support at the right time may have helped John to keep his hope for the future, and I want everyone to know that help is out there for you.
If you are struggling to connect with your partner in regard to finances, then I’d love for you to connect and see if there’s a small step to take to move forward. My hope for you is that you can enhance your relationships with your partner and your money, so that you can create your life just how you want it.
