FAQ

A coach guides, motivates, and empowers, and that’s exactly what we want to do for you. We will help you remove the fog and stress, to gain clarity over your personal finances.

While financial advising or planning often involves making specific investment recommendations, financial coaching focuses on the individual's overall financial health. Coaches help clients build money management skills, set realistic goals, and develop sustainable habits.

On average we spend $288/month going out to eat and $268/month on entertainment (Bureau of Labor Stats). Hiring a financial coach is a commitment, but we’re certain it will pay for itself multiple times over.

Financial coaching is beneficial for individuals at various stages of their financial journey. Whether you're just starting to manage your finances, dealing with debt, saving for a major goal, or planning for retirement, a financial coach can provide guidance and support.

Yes, we will guide you through setting goals that move your finances in a positive direction.

We are certified Financial Coach and have years of experience in personal finance; but not what really matters. We live these practices out. We won’t tell you to do anything we would not do or have not already done. We have mastered the art of financial stability and cannot wait to show you how. If you want to know our inspiring story, just ask.

A coaching session typically involves a one-on-one conversation with a trained coach. During the session, you'll discuss your financial situation, goals, and challenges. The coach will help you create an action plan, set priorities, and provide ongoing support to help you stay on track.

No, financial coaching is for anyone looking to enhance their financial well-being. Whether you're dealing with financial challenges or simply want to optimize your financial situation, a coach can provide valuable insights and strategies.

The duration of financial coaching varies based on individual needs and goals. Some clients may achieve their objectives in a few sessions, while others may choose ongoing coaching for continuous support and guidance.

Yes, confidentiality is a fundamental aspect of financial coaching. Coaches adhere to ethical standards that prioritize client privacy, and information shared during coaching sessions is treated with the utmost confidentiality.

Financial coaching can cover a wide range of topics, including budgeting, debt management, saving, investing, retirement planning, and improving financial behaviors. The focus is tailored to the client's specific needs and goals.

A 529 plan is a tax-advantaged savings plan designed to help families save for future education expenses. It covers qualified higher education costs and offers flexibility in usage.

Optimizing your tax strategy involves understanding available deductions, credits, and exemptions, as well as utilizing tax-advantaged accounts. We can help you create a personalized strategy based on your financial situation.

Paying off your mortgage early can save on interest payments, provide financial peace of mind, and allow redirection of funds towards other financial goals. It's a personal decision based on financial priorities. Remember 100% of foreclosure happens on the home with mortgages.

Foreclosure is a legal process where a lender seizes and sells a borrower's property due to non-payment. It typically occurs when the borrower fails to make mortgage payments, leading the lender to repossess the property to recover the outstanding debt.

Bankruptcy is a legal proceeding offering financial relief to individuals or businesses by either eliminating or reorganizing debts. This involves submitting a petition to the court, and the specific bankruptcy type chosen determines whether assets are sold off or a repayment plan is arranged. It is crucial to view bankruptcy as a final recourse, as it can be a costly option both financially and emotionally.

When a debt goes to collections, it means the original creditor has not received payment, and they've hired a third-party collections agency to recover the debt. The collections agency may contact the debtor to negotiate payment or take legal action if necessary.

Options for managing student loans include income-driven repayment plans, loan consolidation, deferment, or forbearance. Understanding these options and communicating with loan servicers can help borrowers find a manageable repayment strategy.

Estate planning is the process of arranging for the transfer of one's assets and responsibilities after death. It includes creating a will, designating beneficiaries, and, in some cases, establishing trusts. Estate planning ensures that assets are distributed according to the individual's wishes.

A simple will is a legal document that outlines how a person's assets should be distributed after their death. It's a basic tool for individuals with straightforward financial situations who want to ensure their wishes are followed and avoid intestacy laws.

A living trust is a legal arrangement where assets are placed into a trust during an individual's lifetime and managed by a trustee. Unlike a will, a living trust can facilitate the seamless transfer of assets, avoiding probate and providing more privacy in the distribution process.

Health insurance is essential to safeguard your financial well-being in the face of unexpected medical expenses. It covers a range of healthcare services, including doctor visits, hospital stays, medications, and preventive care. By having health insurance, you mitigate the financial burden associated with medical emergencies and ensure access to necessary healthcare services.

Long-term care insurance is a specialized policy designed to cover the costs associated with extended care services, such as assistance with activities of daily living or care in a nursing home. It becomes crucial as you age and may require help with daily tasks due to chronic illness, disability, or cognitive impairment. This insurance provides financial support for long-term care services not typically covered by health insurance, ensuring you have the resources needed for quality care without depleting your savings.

Financial wellness is when you take control of your money so it doesn’t take control of you. That means budgeting, getting out of debt, saving and retiring with confidence. It’s not taking out loans, using credit cards, getting paycheck advances, or making risky investing moves.

Yes, we can offer sessions for groups, including employees, organizations, or church groups. Contact us to discuss your needs and how we can help.

Absolutely! Our guide encourages a balanced approach. We help you create a realistic budget that allows for both debt repayment and maintaining a reasonable quality of life. It's about making informed choices and finding a sustainable financial path.

Yes, the guide is designed to be versatile. It covers a wide range of debts, including credit cards, student loans, and medical bills. The Debt Liberation Blueprint is flexible enough to adapt to various debt scenarios, providing guidance that suits your specific financial challenges.

Unlike traditional budgeting, where previous budget figures may influence the next period, ZBB requires starting fresh in each budgeting period. It involves assigning every dollar of income to a specific purpose, promoting precise allocation and heightened awareness of spending.

Absolutely. ZBB is adaptable to varying income levels. The key is to calculate your total monthly income and allocate it to specific categories or goals. This method encourages flexibility by allowing real-time adjustments throughout the month, making it suitable for individuals with fluctuating incomes.

An emergency fund serves as a financial safety net, helping you navigate unexpected expenses without going into debt. It provides peace of mind and contributes significantly to financial stability, acting as a buffer for situations like medical bills, car repairs, or job loss.

Saving, even in small amounts, has a profound impact on financial well-being. Wise Wallet is dedicated to guiding and empowering you on your financial journey. By providing expert coaching, consulting, and planning services, we help you set clear goals, establish budgets, and automate savings. This process is designed to give you the freedom to make life choices on your terms, whether it's pursuing your dream career, traveling, or retiring early.

Wealth planning is the strategic management of your finances to attain financial freedom. It allows you to live life on your terms without financial constraints, providing a roadmap for achieving both short-term and long-term financial goals.

Our Wealth Planning page offers a variety of resources to empower your financial journey. From financial goal setting tools to investment guides, retirement planning calculators, estate planning resources, and more, these tools are designed to help you define and track your goals, make informed investment decisions, plan for retirement, and efficiently transfer wealth to future generations.

It's never too early to start teaching financial literacy. Begin introducing basic concepts as soon as your child can count. Use everyday situations like shopping or setting up a piggy bank for savings. Making it practical and engaging through hands-on experiences helps build a strong foundation for more complex financial discussions as they grow.

Technology can be a valuable resource for teaching kids about money. There are age-appropriate apps and online tools designed to make learning about finances fun and interactive. These tools cover various topics, from budgeting to basic investing. Explore educational games and apps that align with your child's age and interests to make the learning process enjoyable.

Keeping a joint bank account fosters financial unity and strengthens the marital bond. It ensures that both partners contribute to and benefit from shared financial goals. Splitting finances may lead to more significant issues in both money matters and the relationship, making it advisable to treat finances as a united front.

inding a compromise on lifestyle choices is crucial for a harmonious financial partnership. Couples should communicate openly about their spending habits and seek balanced approaches, such as exploring more affordable options for shared preferences. This helps honor individual desires for quality while adhering to a budget and achieving common financial goals.

Early retirement planning is crucial for several reasons. It allows for the magic of compound growth, where investments can grow exponentially through compound interest over time. Early planning provides flexibility to adapt to life's changes, reduces stress by ensuring you're on track, and enhances peace of mind. Starting early sets the foundation for a future of financial abundance.

Estimating your retirement needs involves assessing your financial situation, considering expenses, and factoring in inflation and healthcare costs. Our retirement calculators can efficiently help you with this process. Factoring in inflation ensures your savings retain their purchasing power, and considering healthcare costs is essential for comprehensive financial planning in retirement.

Term life insurance is budget-friendly because it focuses on providing coverage for a specific duration, such as 10, 20, or 30 years, without accumulating cash value. It offers the most coverage for your premium dollars, making it an affordable option. Unlike other types of life insurance, term life insurance does not involve complex investment components, keeping the approach straightforward and transparent.

Tailoring your term life insurance policy involves considering your financial goals. Calculate your coverage needs by estimating daily living expenses, education costs, outstanding debts, and the necessary income replacement for your family. Additionally, factor in long-term financial goals, such as funding education or leaving a legacy. Our insurance calculators and consultation services can assist you in making informed decisions based on your unique circumstances.

The KIDS College Education Savings Plan offers a proactive approach to securing your child's future education financially, reducing the burden of student loans. By investing in this plan, you ensure funds for higher education, providing your child with diverse educational opportunities, fostering personal growth, and reducing stress associated with rising education costs. This plan also teaches valuable financial responsibility lessons to your child.

The KIDS College Education Savings Plan empowers your financial future with tax-advantaged savings, flexible contributions, diverse investment options, control and accessibility of funds for qualified education expenses, and transferability to another eligible family member if your child doesn't attend college. These features ensure strategic education savings, allowing you to efficiently grow your savings, choose investments based on your goals, and maintain precise control over the funds for a secure and prosperous tomorrow.

A well-devised tax strategy goes beyond mere adherence to laws; it involves proactive measures for fiscal efficiency and long-term financial benefit. For individuals, companies, and investors, a strategic tax approach helps maximize savings, minimize risk, align financial planning with goals, optimize investments, and leverage tax laws to reduce liabilities while maintaining compliance.

The key components of a comprehensive tax strategy involve leveraging tax laws to reduce liabilities and maximize growth. This includes staying updated on tax legislation, synchronizing tax strategy with overarching financial goals, managing diverse income streams, exploring deductions and credits, investing strategically for retirement, refining investment portfolios, optimizing estate planning for tax efficiency, and maintaining precise and detailed financial records. These components collectively contribute to financial optimization and effective financial management.

Mortgage payoff planning goes beyond meeting monthly obligations; it's about securing a future free from debt and unlocking financial potential. Becoming mortgage-free sooner offers substantial benefits, including significant savings in interest payments, debt freedom, complete homeownership, and a valuable asset for retirement planning, enhancing overall financial security and peace of mind.

There are several key strategies for mortgage payoff planning:

• Extra Payments: Consistently making additional monthly payments.
• Biweekly Payments: Switching to biweekly payment intervals for an extra annual payment.
• Refinancing: Exploring lower interest rates or shorter terms through refinancing.
• Windfalls and Bonuses: Applying unexpected funds to reduce the mortgage principal.
• Budget Adjustment: Proactively allocating funds from your budget towards mortgage payments.
• Mortgage Recasting: Inquiring about lump-sum payments to potentially lower monthly mortgage payments.

Our retainer-based consultants offer objective, commission-free advice with transparent pricing, ensuring your goals are the sole focus.

Our services cover strategy development, portfolio analysis, asset allocation, investment selection, risk management, ongoing monitoring, and financial education.

Inheritance and windfall planning go beyond managing finances; they involve responsible stewardship, offering financial security, creating generational wealth, and empowering individuals to achieve their goals.

The key components include assessing your financial situation, defining goals, budgeting, prioritizing debt repayment, strategic investment, tax planning, estate planning, and seeking professional guidance for informed decisions.

Choosing an annual fee-based financial advisor ensures you receive objective advice aligned with your best interests. The transparent fee structure eliminates hidden costs, and our holistic approach tailors solutions to your unique financial situation.

Our services include a comprehensive financial assessment, goal setting, investment management, tax optimization, retirement planning, estate planning, and ongoing support. We address various aspects to guide you toward financial success.

Wise Wallet offers objective guidance, flexible fee structures (fee-based, one-time, or retainer), personalized strategies, and dedicated support. Our tailored approach ensures your unique financial situation is considered for optimal wealth growth.

Fee-Based Asset Management involves unlocking your wealth potential through a transparent and cost-effective solution. Our team designs custom investment portfolios aligned with your goals, continuously monitors and adjusts them, and provides regular comprehensive reports on performance and progress.