Done Right Financial Solutions

Clients can schedule a 15-minute free consult. We also do practice social distancing, so our clients can feel free to meet us via zoom and upload all documents to a secure platform. We offer esignature and efiling. 

We have an onboarding process that is simple and quick. 

We have over 40+ years in the Tax preparation and accounting industry. We keep current on all changes in the laws and practices. Each summer we take the required hours to continue to serve our clients in excellence. Our Employees are encouraged to expand their knowledge and all have a Bachelor's Degree or higher. 

We have standard prices for our basic services. Our services start at 125 and go up from there. However, we also have more specialized and customized services for those in need and we practice being completely transparent. You will know the exact cost before we begin. 

Small Businesses, Entrepreneurs, Individuals, Complex and simple returns. 

A financial coach is someone who helps people reach their financial goals. They do not do the work for you but with you. They will encourage, motivate, mentor, hold you accountable, and coach you to financial success.

The best analogy I can think of is a personal trainer. The trainer is not lifting the weights for you but instead is creating the plan and encouraging you to do the work. They show how to correctly do the exercise and answer questions, provide motivation, accountability, and giving feedback.

The same can be said for a financial coach. They create a plan to help you maximize your finances and then provide encouragement and accountability to implement the plan and stay on track. Done Right Financial Solutions is not just a tax firm, but we are a financial Solution. We offer you strategy and education that will help in every area of your financial journey. 

Financial Coach vs. financial Advisor

A financial coach is there to help you reach your financial goals. A coach will most often dive into the day-to-day finances and help you build the fundamentals of personal finance.

The financial planner or advisor assumes you have already built those fundamentals in your personal finances. They commonly work towards long-term savings goals often associated with stocks, bonds, and insurance.

As a financial coach myself, I work with my clients on the day-to=day, like tracking expenses, creating a spending plan or budget, paying off debt, saving money for an emergency fund, improving their taxes, and building a legacy for their children.

What you need will depend on where you are in your journey. If you need help budgeting and paying off debt, then a financial coach is your best bet. If you have questions about asset allocation and investing for retirement, then a financial advisor is probably for you.

Know What type of help you need

It’s important to know what type of help you need. For example, you wouldn’t go to a foot specialist if your arm was broken. In the same way, it’s important to know what part of your finances you need help with.

The clients I work with are primarily looking for help with paying off debt, building their credit score, getting insurance and retirement started, getting the best results on their 1040 tax return, growing their business, organizing their budgets, and exploring more ways to grow and live their best lives. They make a good hourly rate or salary and are ready to change their financial journey.

Having a plan for them is crucial, but so is someone to guide them and hold them accountable to the plan we create. Ultimately my clients want to focus on what’s important in their lives while still saving money and paying off debt.

Do you notice how I didn’t talk about specific investments, stocks, bonds, and portfolio management? That’s because that’s not my ideal client, and that’s not what I’m best at. I am best at getting you in a position to find a financial advisor for these areas and have the foundation and knowledge to truly grow and make the right decisions as they recommend courses of action for you. 

Yes, I have a good understanding and general knowledge of investing for retirement, starting your own business, and improving your credit score. I use this knowledge to get you in a position to make your money work for you and not work for money. If you really want to get ahead, you MUST know the difference. 

In the end, you need to know what part of your finances you are looking for help in and what type of client the financial coach works with regularly.

Understand what services are being offered to you

Some coaches offer several different services. Anything from saving money for your first home, budget workshops, financial independence, and many others. You will find individual and couples coaching, small business coaching, group coaching, online courses, and a little bit of everything in between.

It’s important to know exactly what service the coach will be providing because while each service is effective in its own right, it might not be the service you need or want.

Be clear on what services are included in the package you have purchased.

What exactly are you getting with the services? You'll want to understand how the information is being delivered and what actual results you can expect.

For example, my initial standard package is a two-hour virtual video call via Zoom, where we create an Action Plan for your money. This is a working session that occurs only once. You will be able to get more hands-on sessions and more assistance by upgrading from this standard package if you choose only to have the strategy session. Once the plan is developed, you will be free to implement it or not. If you choose to upgrade, more options will be made available to you to hold you accountable to the plan and assist you with gaining a successful outcome. 

To get the most out of the call, I have my clients fill out forms to understand their relationship with money and where they are today. This includes a workbook that includes a net worth worksheet, a spending plan, a debt repayment calculator. I'm there all along the way to help my clients gather this information.

After we complete the two-hour call, I provide a written, detailed action plan on the steps to take on your financial journey and any provided material, along with continued email support should you have any questions.

But each coach will have their own system, and you'll want to make sure you are getting the level of service you want. Do you want in-person meetings and unlimited call and text support? Or is meeting once a quarter to review your progress enough? Or maybe something in between? Ask questions to get an understanding of the level of service you will receive.

Research past successes

For a new coach just starting, it might be tough to find past client experiences. But it’s important to know that the coach gets results.

Just because they have a pretty website doesn’t mean they are getting results for their clients.

Most financial coaches will have testimonials that talk about a client's success stories, which can be really helpful. Some coaches will provide an actual number of how much the average client has paid off in debt or increased their income, for example.

Not all financial coaches provide specific results of success but rather the value they provide, which can be helpful and a reason to seek further information. When in doubt, follow them on social media for a while to get a feel for them. Just because a coach is new doesn't mean they can't help you, but you also don't want to waste your time or money on a coach that isn't a good fit.

Let's get beyond the testimonials. Do they really have what it takes

Some other factors I would look for are education and training. While financial coaches don’t require certifications or licenses, it could be helpful knowing that your future financial coach has passed a course or earned a certificate in their line of business.

I am always looking for courses and books to read to stay in the trend of what is going on in finances. I have acquired several certificates and am now returning for a degree in finance. All this to help me be the best coach I can be for my clients. 

You may want to ask about their own personal successes or failure with money. Many like myself have paid off debt and want to help others do the same.

I personally paid off over 100,000 of my debt and raised my credit score over 300 points and now have money in savings that I don't have to touch. It feels good. For many of my clients, that’s all the success story they need. My story often resonates because they want someone who had done it before and experienced some of the same difficulties, and has a proven record of success. 

How do coaches select their fees for their services

Financial coaches usually charge by the hour, package, or a combination of both. The majority of coaches tend to work with clients over a period of time rather than a one-time meeting. This makes sense as getting ahead takes months and years, not minutes and hours.

When deciding my coaching prices, I researched the industry and landed in the range of $150 to $2000 per hour of their in-person time. Much of this depends on many of the factors that are mentioned in this post.

I have been coaching for almost two years and charge $500 for a 2-hour coaching session to create an action plan. My experience relies heavily on my personal experience of paying off debt and saving money over the last 10 years. I am a strategist and analyst; I bring knowledge about debt, credit, saving, budgeting, and taxes. I delved into your whole financial life to reform and transform mindsets about money and future success. 

This is just one example looking at pricing from the surface level. It’s often challenging to compare apples to apples in pricing as financial coaches vary with what they offer, how much one on one time they provide, hourly vs. packages, etc.

The point is to save more money than you spend

A common question financial coaches get asked a lot is, “how do I afford your services.” The simple answer is we are in the business of saving money, paying off debt, and providing value from our services. Your finances should be better off after you hire a coach. It's an investment.

It’s also important to know that whatever money coach you decide is right for you is also right for you financially. No coach wants to see their clients pay for a service that doesn’t fit their finances.

How to tell if the Coach is right for you

For most coaches, their website acts as their resume. Look for testimonials from happy clients and read their about page.

Their about page is usually a pretty good biography of who they are and why they are financial coaches. I find the “why” to be important when figuring out if we are the right fit. Most often, relating to the coach's story can play a factor in deciding if they are the right money coach for you.

Like any resume, experience is important in your decision to hire a money coach. However, just because a person has many years of experience does not immediately make them the right coach for you.

Education and training is an important topic to consider as well. Financial coaching does not require a license, yet many programs and accreditations are offered. Another example would be education as there is no Bachelor’s degree required, but knowing a person has some education background could round out your overall picture of the coach.

It is very similar to a resume, you can look at it all day long, but that’s just the beginning if they are the right fit for the job. The next step is to meet them in person, call, or video chat with them to get all of your questions answered and see if they fit your needs and wants for a financial coach.

Summary

When shopping for a financial coach, it's important to view what you need help with with clarity. Matching your struggles with a coach specializing in that area will get you off to a great start.

Once you have found a coach that can help you with your most pressing issues, set up a call and see if the personalities are also a fit, part of the process is to take some time and interview a couple of financial coaches to learn more about them. It’s important for the person to fit your needs but also be the right fit for you.

Be clear on the process and costs of your potential coach. Be ready to do the work that is required to achieve your goals.

Here are some questions to ask a professional when thinking of hiring them.

• What happens during a coaching session?
• How will we interact?
• How long do you normally work with clients?

• How will you measure and evaluate my success working with you?
• What’s your personal finance philosophy?
• What’s your coaching style?
• What do you enjoy about your job as a coach?
• How do you get paid?
• Are there any contracts or upfront fees required?