One thing that has become crystal clear in working with clients as a Financial Coach is that educational attainment doesn’t signify financial acumen. I’ve worked with attorneys, social workers, educators, and other professionals, as well as retail workers, students, and maintenance workers. And I’ve found that those with more formal education are often in as much financial crisis (sometimes more) than those with less education. People whom we assume are “rich” or “well-off” (and may present in this way too) are often experiencing financial chaos. It really is true that you “can’t judge by a book by its cover.” As a financial coach, this is something that I learned very quickly.
I think one of the big reasons for this is that despite all the information and training that we receive in school, financial literacy is almost never included as an area of study. So, we may go to school and learn all these important topics and skills, but one of the most critical and elementary subjects is not taught. Then we go off into the big wide world to pursue jobs, careers, and higher education, but are hardly prepared for how to effectively manage our finances.
There’s no shame in this. Realizing that a problem exists, and acknowledging it is the first step towards managing it. Once we realize the problem, this is where we become responsible for our response. I never judge my clients, because I understand and realize that we have all made mistakes (including me). And our society overall handles the subject of money very poorly. But once we become aware, that is when action is required. If you’re ready and committed to redirecting your current (and future) financial path, increasing your financial education is where to start. Seeking the help of a certified financial professional can also make all the difference between continuing to flounder and lose money, and getting focused and building wealth. Remember, the sooner you start, the sooner you can begin creating a more abundant money journey.
About Yolanda Ransom
Yolanda Ransom is a certified Financial Coach & Consultant who empowers clients to confidently master new money management skills, resulting in improved finances and financial stability. She is the CEO of Improve Your Finances LLC and provides personal finance coaching and training to individuals and groups. You can find out more about her and working with her here.