Financial Literacy Coaching

Financial Literacy Coaching

Finances affect EVERY aspect of your life, and it is important to always have full knowledge of your financial status. Financial Literacy includes understanding your sources of income; acknowledging all your financial obligations; knowing your responsibilities and rights as a consumer; and being aware of available resources to help you accomplish and maintain financial wellness. 

We provide 1-on-1 Financial Literacy Coaching sessions, for individuals and small businesses, in 3 main areas: 
BUDGETING, BANKING, and CREDIT.

The coach will strategize with you to customize your most advantageous pathway to meet your goals. 

BUDGETING – a budget is a great financial tool; it is considered one of the best “roadmaps” for achieving your financial goals. We assist our clients with developing budget spreadsheets that best fit their financial situation. Whether it is to start a business, build up emergency savings, pay off debt, or to make a substantial purchase; you should start with a budget. 

The Coach can collaborate with you to: 

  •   Determine budgetary targets and objectives 
  •   Conduct an income and expense analysis
  •   Distinguish fixed versus variable expenses  
  •   Evaluate disposable income 
  •   Identify potential areas for adjustment
  •   Create practical incentives 
  •   Develop a strategy to STAY ON TRACK! 

BANKING – Financial Institutions are monumental in providing resources for economic endeavors, the safekeeping of our funds, and ensuring monetary transactions are processed securely. Many banks also offer educational resources to help consumers stay abreast of products and services and other available options that substantially benefit consumers.

You and your Coach will review and discuss your current accounts to ensure that you have a full understanding of your banking products i.e., savings/checking accounts, money market, bill pay, and loan terms. You’ll also review products and services available to you through your financial institution and consider how other banks or services may be beneficial to achieving your financial goals.

The Coach can also help you to:

  •   Understand the distinctions and objectives of retail banks
  •   Assess availability of practical and cost-effective products and services
  •   Explore the benefits of enrolling in automated services
  •   Evaluate any existing loans, options, offers and terms 
  •   Create a Transaction Register and perform an Account Reconciliation
  •   Identify potential advantages and disadvantages of bank accounts 

CREDIT– Did you know that your credit is consistently being monitored? Regardless of if you have ever applied for financing or entered a financially binding contract, your credit history is significantly influencing decision makers. Insurance carriers, lenders, utility companies, rental agencies, and even employers are all reviewing credit reports to assess the risk of extending their benefits or services to consumers.
 
Your credit worthiness is essential to your financial wellbeing. It is of the utmost importance to know where your credit stands and to exercise precautions and take necessary actions to maintain financial integrity and safeguard your reputation. 

The Coach could work with you to:

  •   Protect yourself from identity theft and fraudulent transactions. 
  •   Develop a strategy to build and strengthen your credit status
  •   Understand the importance of reviewing your credit reports regularly. 
  •   Identify the components of a FICO score and how it is calculated
  •   Analyze your credit reports from Experian, TransUnion, and Equifax
  •   Discuss any areas of concerns and the disputing process

Being financially literate is an essential skillset to successfully optimize and protect your wealth.  
 
Purnell Accounting & Business Solutions, LLC can simplify this journey, ease your frustrations, and guide you on your road to financial success. 

CLICK HERE TO REQUEST YOUR CONSULTATION

We look forward to consulting with you, then developing a customized financial plan to fit your needs and achieve your goals. With that plan, we will coach you into your financial success with simplicity, understanding and ease.

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