Learning to Be a Coach

Learning to be a financial coach is something you can do regardless of your background knowledge, and in fact may be easier for those who are not financial “experts” since those skills are of limited use in coaching.  Coaching is led primarily by the participant, and the coach is there to listen, encourage, and motivate.  Coaches often have to “bite their tongue” to keep from giving advice or directing the process, but rather try to help find creative ways to help the individual achieve their own stated goals.

Primary traits needed to be a good coach:

  • The ability to establish and build trust
  • The ability to communicate via active listening and powerful questioning
  • The ability to follow through and monitor progress
  • The ability to encourage and motivate


This video features Karen Murrell of Higher Heights Consulting on Three Key Roles of Financial Coaches

Training Materials for Future Coaches

Dunn Couty Coach Training PDF from Budget Coach program

Financial Coaching Process from UW-Extension/Madison Center for Financial Security

Sept 10, 2010 Workshop Coach Resources:

The Center for Financial Security, UW-Extension, and American Family Insurance hosted a workshop in on Sept 10, 2010 in Madison, WI entitled: Financial Coaching: Building a Future in Wisconsin, An Introductory Workshop.

In the video below, Peggy and Joan demonstrate one coaching tactic called “Walk the Line.” It is like a living, breathing version of the Goal Setting Form linked above, and a great way to practice the COACH Model– Competencies, Outcome, Action, and CHeck.

The International Coach Foundation:

The International Coach Federation (ICF) is the largest worldwide resource for professional coaches, and the source for those who are seeking a coach. We are a nonprofit organization formed by individual members-professionals who practice coaching, including Executive Coaches, Leadership Coaches, Life Coaches and many more, from around the world.

The ICF Research Portal serves as a Web gateway, or access point, to a broad array of resources about coaching research. This portal has been designed to feature topical coaching industry research that is available to users in many different formats, such as: Articles, Case Studies, Journals, and Reports.  http://www.coachfederation.org/research-education/icf-research-portal

The Central New Mexico Community College:

CNM provides direct financial coaching services for low-income community college students in the School for Adult and General Education (SAGE).  CNM coaches are called Achievement Coaches, and typically hold a master’s degree in social work or education. CNM also provides its coaches with a training program.  One of the most valuable lessons that CNM has learned since they started delivering financial coaching is the importance of training the coach. Providing all coaches with knowledge, skills, common tools and a common language have been instrumental in the program’s success.  The materials and topics covered in CNM’s training for people interested in becoming financial coaches has been replicated and used on a national basis as part of more than 10 coaching training sessions that have taken place or are planned through 2010.

CNM Coaching Training Description