Money Made Human Podcast

As you grow your business, you’ll likely have a goal that is tied (loosely or directly) to that illusive “6-figure year.” While this is a great goal to have, there are a lot of coaches out there who make achieving that “6-figure” dream far harder than necessary. They focus their attention on things that feel productive (like trying to be everywhere on social media, taking yet another course (you know, just in case!), or jumping from task to task, but never really finishing anything.

This is a recipe for disappointment and will slow down your business growth (I promise). Instead, if you want to achieve that 6-figure revenue, you need to focus your attention toward the activities that actually showcase your knowledge and help your future clients identify that you are the solution they’ve been looking for.

Links and Resources:

• Join the Facebook group

Are you a financial coach looking to help your business owner clients navigate the complexities of paying themselves?

Many business owners struggle with separating their personal and business finances, leading to cash flow issues and difficulty in determining a proper paycheck. As a financial coach, your role is crucial in helping them untangle this web and establish a solid foundation for growth.

This episode is the third in a three-part series about financial coaching for your business clients. We’ve talked about separating business and personal finances and determining a tax estimate.

This week, we’re digging into the most important next step: how to pay yourself as a business owner.

Implementing a solid financial management system with clients is essential to long-term success and we’ll walk through what that looks like, step by step. This includes looking at how to determine what a client needs to pay themselves and how to leverage the business’s revenue to do just that.

From refining payment methods and tax strategies to analyzing pricing models and developing growth plans, you'll have a toolbox full of techniques to help your clients thrive.

So, if you're ready to take your financial coaching to the next level and empower your business owner clients to pay themselves with confidence, this episode is for you. Tune in now and discover the secrets to unlocking financial success for your clients!


Links & Resources:

• Join our free Facebook group!
• Get your financial worksheets here

Be sure to catch the whole series on financial coaching with business owners.

As a financial coach, I've witnessed firsthand the chaos and stress that can arise when business owners intertwine their business and personal finances. By guiding clients through the essential step of separating the two, we lay the foundation for financial clarity and strategic decision-making.

This week on the podcast, I walk you through the line-by-line analysis of personal and business financial worksheets (link below!), highlighting common expenses that often blur the lines between the two. From cell phone bills and vehicle expenses to health insurance premiums and tax filing fees, we explore the nuances of categorizing these costs effectively.

One of the key takeaways is the importance of determining the business owner's necessary paycheck amount to cover personal expenses. This figure serves as a starting point for creating a structured financial plan that alleviates the overwhelming pressure many entrepreneurs face.

We also touch on the delicate balance between the cash flow of a business and the tax deductibility of expenses, emphasizing the significance of seeking guidance from a trusted accountant. By collaborating with tax professionals, we can ensure that our clients are making informed decisions and optimizing their financial strategies.

Throughout the episode, I share insights and tips to help financial coaches navigate this process with their own clients. By meeting business owners where they are and providing clear, actionable advice, we can empower them to take control of their finances and build a solid foundation for long-term success.

Whether you're a seasoned financial coach or just starting your journey, this episode is a must-listen. Join me as we explore the transformative power of separating business and personal finances and discover how you can guide your clients towards financial clarity and peace of mind.

Links & Resources:

• Get the financial worksheets here! 

Are you tired of seeing small business owners struggle to pay themselves consistently? As a financial coach, it's crucial to provide practical, real-world advice that goes beyond manifestation fluff and the hyper-focus on making money.

Instead, the key is to help your clients understand their business finances and create a clear separation between their business and personal expenses.

Introducing this concept early in the coaching process with business owner clients is essential. By separating business and personal finances, you can provide clarity on the business's financial situation and offer more specific strategies and coaching. Something I walk through, step by step, in this week’s video.

Getting into the mind of your client is crucial. Business owners often express challenges like not having enough clients or needing to control spending, but the actual problem may be unclear due to the commingling of business and personal finances.

By following a three-step process, which you’ll learn here, you can help your clients gain a foundational understanding of their business and strategize solutions.

Links & Resources:

• Episode 47 - Navigating the Client Journey
• Episode 39 - Your Financial Crystal Ball: The Plan Ahead Method

Sometimes it’s people outside our industry who have the biggest impact on how we grow and develop our values and our businesses. This is true for me, and this week I’m sharing more about the person who has helped shape how I conduct business and work with clients every day.

In this week’s episode, I’m sharing how Bryan Stevenson -- the renowned lawyer, activist and author behind Just Mercy and the Equal Justice Initiative -- ended up becoming one of the most influential figures on my financial coaching philosophy and methods.

While Stevenson's work confronting injustice in the criminal justice system may seem unrelated to money, his ideas around the power of proximity, leading with empathy, instilling hope in suffering, and fighting for human dignity have transformed how I view my role and approach clients.

In the episode, I’m exploring the key lessons from this modern-day hero that became foundational pillars, such as intimately understanding people's struggles for true impact, seeing the full nuanced humanity in each person, and making justice and restoration my driving mission.

You'll hear how Stevenson's philosophy allowed me to shed limiting beliefs to find the courage to offer transformative high-level and high-touch support.

By the end, you'll understand why this visionary activist, despite having no direct finance ties, became one of my most influential mentors for creating meaningful, lasting impact.

Links & Resources:

• Ten Percent Happier: How to Keep Going When Things Get Hard
• We Need to Talk About Injustice TED Talk
• True Justice: Bryan Stevenson’s Fight for Inequality documentary
• The Power of Proximity CEO Initiative
• Financial Coaches Unite Facebook group

I don’t usually play favorites, but this topic is one of them. Probably because I’m someone who wasn’t celebrating my own wins… I was just moving on to the next goal. And, if your clients are like me, this can be a long-time habit that they’re not even totally aware of. 

This is often the case when you’re coaching someone who holds themselves to a very, very high standard. They’re not not celebrating… but they did it, and they still have farther to go, so they need to get going. No time to waste. 

As a great financial coach, you already know how important acknowledging the wins that your client achieves — not just saying “okay, that’s done,” but actually celebrating. 

Join me as we discuss how to help your clients who may feel like “celebrating” is the same as “yup, checked that off the list” see the difference and start FEELING their success

This week we’re looking at the transformative concept of the Financial Progress Number, a journey at the heart of helping clients create true transformation in their finances. This touches on something deeply personal and empowering for each client, tracking their financial health and making it relatable to them.

The idea for this topic comes from the idea of a savings rate, which isn’t very intuitive for most clients. So in this episode, I’m redefining the savings rate in a way that makes sense for even your most resistant or frustrated client. We'll walk through calculating the Financial Progress Number, making the process accessible and empowering, even for business owner clients facing unique financial challenges.

The core of our discussion focuses on the potential for improvement and the actionable steps toward making meaningful changes. Understanding and enhancing savings rate can significantly impact your clients’ financial well-being.

Whether you’re a financial coach looking to deepen client relationships, a business owner aiming for financial growth, or someone curious about financial planning's potential, this episode offers valuable insights. Listen in to explore the Financial Progress Number and see how it can change your approach to financial health and progress.

Links & Resources:

• Episode 17: Financial Coaching 101
• Get your Savings Rate Calculator & Handout
• Federal Savings Rate

If you’ve ever felt like there’s not enough time to get everything done in your financial coaching business, you’re not alone. Starting a business is tough, especially when you're trying to do it on the side of a 9-to-5. 

This week on the podcast, we're sharing some golden nuggets on how to efficiently split your time between the essential tasks: working ON your business, snagging those crucial clients, delivering knockout coaching sessions, and keeping your own learning game strong. Plus, we've got a killer time allocation strategy that’s perfect for anyone in the early stages of their coaching journey.

We're challenging the notion that more hours equals better results. With our practical tips, you can make those precious hours count, focusing on what truly moves the needle in your business.

From the must-do client attraction activities to avoiding the common pitfalls that trap new coaches, we're laying it all out there. And because we know how overwhelming it can be, we’re also sharing a list of key podcast episodes that are game-changers for upping your client game (you can check out the links to those below!).


Links & Resources:

• Episode 49: The Power of a Financial Coaching Program
• Episode 9: How Do I Get Clients as a Financial Coach? 
• Episode 25: Building Trust in Financial Coaching with the Trust Triad
• Episode 28: Why Aren’t You Getting More Clients?
• Episode 34: How to Talk About What You Do as a Financial Coach 
• Episode 43: How to Get More Coaching Clients from Social Media
• Episode 44: Identify & Craft Your Why for Financial Coaches
• Episode 52: Real Talk on Social Media for Financial Coaches
• Episode 53: How to Get More Referrals from Your BNI Membership
• Episode 56: How to Use YouTube as a Marketing Strategy
  
  

Recurring revenue is a boon to your financial coaching business, and one way to achieve that is through a periodic coaching program…after your clients go through your initial program. But since the sessions are periodic, how do you go about pricing a program like this?

Listen in to the podcast this week as I share with you the formula I use in my own coaching practice, Fiscal Fitness Phoenix.

Pricing not only affects the sustainability of your coaching business but also reflects the value you offer to your clients. This look into pricing is about more than just numbers; it's about strategy, perception, and value. I dissect additional time considerations, including the often-overlooked aspects of client support between sessions, and how these elements contribute to your overall service package.

This episode doesn't just tell you what to do; it equips you with the mindset and tools to navigate the complexities of pricing with ease and confidence.

Listen in now!

Links & Resources:

• Episode 49
• Episode 50
• Episode 51

I’ve seen clients struggle with student loans since I first started financial coaching 15 years ago. And with all the recent changes in student loan forgiveness rules, I knew I wanted to share more on the podcast so coaches were better informed when working with clients.

But I also knew my own limits. I’m not an expert in student loan forgiveness, David Gourley, a Financial Coach Academy® alum, is.

This week on the podcast, David is sharing his knowledge on loan forgiveness, how to translate some of your student loan data, why some loans are being forgiven and others aren’t, why it’s important to take action, what to watch out for with your Parent PLUS loan, and more.

Even if you don’t coach clients on student loan forgiveness, knowledge is power. Knowing where to turn for help or where to refer your clients to is incredibly important.

Links & Resources:

• Teach Plan Retire
• Connect with David on LinkedIn
• Follow David on X