#33: What to do when a client asks to take out a loan for home renovations?

from Financial Coaches Network - The Podcast: Build your Financial Coaching Business · host Joshua Escalante Troesh, Garrett Philbin, Amelie Riendl, and Emily Blain

Episode 33: What to do when a client asks to take out a loan for home renovations? Today, Josh and Garrett discuss financial coaches’ often dogmatic approach to clients’ ideas about taking debt on for things like home renovations. Key takeaways: We have to be careful about this conversation because it’s not really about the numbers, it’s about people’s lives. You WILL have an emotional reaction, whether positive or negative, so recognize that you’re having that reaction and notice how it could impact your coaching. Your client WILL have an emotional reaction to what you say, so be aware of that going in! Saying, “That’s interesting, tell me more.” is a GREAT way to gain more information and more time to process. Think about the numbers, of course, but also take into consideration things like impact on quality of life and timelines etc. Resources mentioned in this episode: FCN Podcast Episode #28: What is a good account for an emergency fund besides a savings account? Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow