Updated: May 20
As a Financial Coach, I get this question a lot! I found this article written by Money Matters, that dives into this. I am posting only the main points below:
What Is a Financial Coach?
A financial coach is someone who will help you understand the basics of personal finance and help you develop and maintain healthy financial habits. Their main job is to empower their clients to reach their financial goals and learn how to handle their finances responsibly. They typically work with clients who want to save money, create a budget, pay off debt or just improve their financial literacy in general.
What Is a Financial Advisor?
A financial advisor is someone who helps you build wealth and prepare for your future through long-term financial planning. While they can advise in all facets of personal finance, they tend to focus on comprehensive financial goals that last throughout your lifetime and beyond. They usually work with clients who want to manage their assets, build an investment portfolio, and plan for their retirement. A financial advisor also helps with taxes, estate planning, health care and long-term care planning.
I sure hope this helps you understand. Let me know if I can help in any way as a Financial Coach I can help you with a better path so that you can go to a Financial Advisor when you have money to invest. If you would like more information on how a Fianancial Coach can help you, (click here)