Ask Robina - March 14, 2023

Hi Robina! 

I noticed you are a Certified Money Coach and have mentioned money coaching a few times. Can you tell me what that means? 

Signed – Money Curious 

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I would be happy to answer this question.  

When I decided to leave my career in public accounting and create my own business I kept getting requests to help people with money.  Internally this invitation was exciting but creating a budget for people and monitoring their spending was not.  By divine intervention, I found the Money Coaching Institute (MCI) and knew I wanted to become a Certified Money Coach (CMC)®.  After completing that certification, I also decided to train to become a Certified Business Archetype CoachTM. 

The reason MCI appealed to me was because of its focus on behavioral money coaching and its process of understanding unconscious beliefs and patterns (around money).  After years of working with an executive life coach, I knew the value of uncovering false beliefs, reflecting on their impact on my life, and the transformations that happened after the awareness and inner work.  

Behavioral money coaching is a type of coaching that helps individuals develop healthier financial behaviors and improve their relationship with money through the combination of psychological principles, spiritual beliefs, and practical financial guidance.  Understanding and changing behaviors related to money has a greater impact than just providing financial advice or guidance.   

A person already knows they have debt but may not know why they have it, why they accumulate more debt after it’s paid off, or how to change. 

Uncovering emotions and actions linked to money

Understanding the reason behind the above is why money coaching appealed to me.  There is freedom in going beyond budgets (which are valuable) and uncovering emotions and actions linked to money.  As a CPA (retired), I had numerous discussions with clients about their financial statements, tax returns, etc. but rarely did we discuss their feelings.  In retrospect, I have a better understanding of why some clients go silent when presented with questions or a tax bill while others get loud or angry. 

Today, many clients come to me with anxiety about their financial picture and/or wanting to gain comfort with the money they do have.  The process starts with establishing an understanding of the main concerns and identifying any major financial issues that need to be addressed immediately.  From there, the journey begins with identifying beliefs, uncovering the origins of those beliefs, looking for patterns, and recognizing how one’s beliefs and behaviors are showing up in life.   

For example, one of my clients said, “I am a single parent and will always have to struggle.”.  While it can be financially challenging for some to raise a child on their own, it doesn’t mean that one has to always struggle.  Once this belief came to the surface, we were able to discuss how it might be showing up in financial decisions that led to increased struggles.  With this newfound awareness, the client was able to make changes in behavior and create more financial stability. 

Invest in yourself with behavioral money coaching

As people begin to understand their relationship with money, the stress dissipates, anxiety is replaced with calm, and there is less fear around making financial decisions.  Money coaches are not financial advisors (unless trained/licensed) but can help people improve their financial literacy, establish plans to reduce debt, and create plans to achieve financial goals.   

If you believe behavioral money coaching would be supportive to you in your career or personally, I encourage you to invest in yourself.  With any financial decision, research and ask for recommendations, interview more than one, ask questions, and be honest to maximize the return on your time and money.

You are worth it. 

With Gratitude,
Robina

 Robina is a Soul, Self, Wealth Doula, Certified Money Coach, and retired CPA.  She works with successful leaders to guide them as they transform into Soul-cess-full leaders,  Each of these journeys is unique and the alignment of goals and reality allows for authentic relationships across all spectrums of one’s life, including money.  If you want to know more about Robina, you can visit her at www.robinabennion.com. 

Do you have questions about business, navigating a career, how to create work/life alignment, money types, and mindset, goal setting, mid-life career changes, or curious about mindfulness?  Soul, Self, Wealth, Relationships, and Spirituality too?  Yes. Business is more than employees, technology, and deadlines. If it is important to you and you want to find a way to incorporate it into your business/career or are curious about what that looks like.  Submit your question to Ask Robina HERE!