How Does a Financial Coach Help Me?

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    I Help You Create a Budget

    I help you to create a budget and set a plan so you know where every dollar is going!

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    I Help You Track Spending

    I help you to track your progress to your goals, and actual spending to your budget, recommending adjustments as needed.

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    I Help You to Create Savings Plans

    I will help you to build a savings plan and strategy to help you achieve dreams you may have, like buying your first (or second!) home, or saving enough to retire.

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    I Help Motivate You

    I will give you support as you work towards your goals, helping you to make corrections as needed, but more importantly, giving you hope and motivation as you progress! There will always be speed-bumps as we go through life, our job is to help keep you on track rather than getting side-tracked.

What Does a Financial Coach Not Do?

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    We Will Not Make Decisions For You

    We will offer you new insights, perspectives and suggestions, but at the end of the day the decision of what to do with your money is yours, not ours!

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    We Will Not Judge You

    We all make mistakes! Don’t be afraid of sharing yours, that is how we learn and grow. All conversations remain confidential, and we will treat you with respect, always. We just want to make sure that we don’t make the same mistakes again!

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    We Are Not Motivated to "Make a Sale"

    Whether it be home insurance, stock tips, or financial products and services, we are not in the business of selling. We offer you advice based on the plan we create together, and that is it! We have no hidden agendas, or motivations, our only goal is to help you!

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    We Will Not String You Along

    After the initial, free consultation, we will look at developing a work-plan together. Once we have completed the tasks set out in this plan, we are done! Our job is to empower you, not keep you coming back indefinetly. We will always be there for support and “touchpoints” if you’d like, but we will not keep you coming back for no reason.

Statistics and Insights from the Current Economy

HOUSING PRICES AND AFFORDABILITY ARE A SERIOUS CONCERN

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Mortgage Stress tests are becoming increasingly more stringent due to foreclosure risk

As house prices have increased, many Canadians are being forced to make difficult decisions on how to own their first home. Overextending yourself financially when purchasing a home can result in a lack of financial freedom, or even worse foreclosures or bankruptcy.

This graphic from ratehub.ca shows what percentage of income Canadians are being forced to spend just on a mortgage. Additional housing costs, like property taxes and utilities further add to these commitments. In addition, the chart is based on a 20% down payment, with a 25 year amortization, and with prices as of March 2019, so in many cases, Canadians will have larger mortgage payments.

A Financial Coach can help you to get into your first (or second, or third!) home safely, while helping you navigate bank stress tests and mortgage requirements. Don’t risk the biggest purchase of your life by not getting advice!

High Debt Levels put Canadians at Risk for Default, Foreclosure and Bankruptcy

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Household Debt is Approximately 1.7X Annual Income

Per Statistics Canada, Canadian households paid approximately $387 Billion worth of interest in 2020. This works out to approximately $37,000 per household of hard earned income that is going elsewhere rather than into your pocket! Of note, this reflects only the interest cost, and not the other non-discretionary costs such as principal payments, taxes and utilities, so the true cost of owning a home is much higher.

By creating a plan, and then attacking outstanding debt, you can reduce, or even eliminate this interest cost through your decisions.

A Financial Coach can help you to create a plan that puts interest back in your wallet and use it on the things you want!

Having Enough for Retirement is a Major Concern for 1 in 2 Canadians

Percentage of Senior Households in Core Housing Need

Retirement Planning is Increasingly More Important

More than 63% (about 2 of every 3) Canadians set nothing aside for retirement in the last year (Canadian HR Reporter, July 2021).

67% of Canadians feel that a retirement crisis is emerging (Canadian HR Reporter, July 2021).

About 14% of seniors are in a core housing need. As housing prices rise and more Canadians reach retirement age, the housing crisis only increases. Increased demand drives inflation in housing prices, while most seniors are on fixed incomes, further exacerbating the crisis.

A Financial Coach can help you to plan for retirement, ensuring you have enough money set aside for living the lifestyle you want to live.


A Coach Will Help you Soar

Being intentional and focusing on your goals, while having a coach by your side to help guide you away from pitfalls, will help you as you transform your life and achieve your dreams.