Pole Dancing, SnoCones & A Marriage Proposal: Financial Coaching is Anything But Routine Presented by 2018 TACFEP State Symposium

Purpose The good news is financial coaches aren’t counselors. They won’t rehash your mistakes and dwell on what went wrong in your past. Coaches focus on the future. They want to give you a specific, achievable plan for your particular situation. Keep in mind that you won’t leave your session with all your issues magically solved. But you will leave equipped to solve them yourself. Think of your financial coach as a personal trainer. He or she will show you what to do and how to do it, but the heavy lifting is up to you. SOURCE: daveramsey.com/blog/what-to-expect-during-financial-coaching-session 2018 TACFEP State Symposium

Coaching Session Flow Welcome Intake REMINDER! When making a great first impression, the first five seconds are key This tiny amount of time will create a lasting impact and forge the direction of a relationship A warm and sincere welcome gives a sense of caring and makes people feel appreciated, as well as making them feel that they have made a good choice Intake Session begins and ends with assessment Data mining from university’s enrollment management system Online – <3 minutes to complete 2018 TACFEP State Symposium

Session Discovery Tips So what brings you in here today” Don’t be surprised if it’s completely different than the notes on your calendar Clarifying questions “Have you tried to use a budget in the past” “What interested you about getting a credit card right now?” If they mention many things, rank priorities If they seem tentative, reassure them that their questions or goals are valid and that you can help 2018 TACFEP State Symposium

Instruction/Information Sharing Tips “Budgeting is a process with 3 steps” “The difference between a credit report and credit score is…” “Let’s take a look at your student account” Make a budget Look at examples of credit card offers Review the study abroad trip’s budget worksheet 2018 TACFEP State Symposium

Behavioral Content/Confidence Assessment Tips “Are you happy with your budget at your current levels of spending?” “You were right. I see the same options.” “Do these changes in your budget look doable? Are there any areas you think you might struggle to stick to?” “Do you feel confident in your ability to pay off this card every month?” “You should be proud.” 2018 TACFEP State Symposium

Action Plan Creation 2018 TACFEP State Symposium

Today we planned the work, but it won’t make a difference in your life until who works the plan? 2018 TACFEP State Symposium

Wrap Up Tips “We talked about budgeting, but I also see you gave yourself a ‘C’ on ability to manage credit/debt. Are there any questions you have on that you want to talk about while you’re here?” “Anything else I can help you with today?” “It looks like you’re doing all the right things and you definitely have the ability to reach these goals.” “Thanks for coming in today, I’ll go ahead and email you the spreadsheet.” Action Plan | Schedule Follow-Up | Exit Survey | Folder | Resources 2018 TACFEP State Symposium

Demonstration Welcome Intake Session Discovery Instruction/Information Sharing Behavioral Content/Confidence Assessment Action Plan Creation Wrap Up 2018 TACFEP State Symposium

Next Steps Review your coaching training program Create and implement an action plan component Design new/revised program Implement program Assess program Repeat 2018 TACFEP State Symposium

Questions moneymanagement@unt.edu 2018 TACFEP State Symposium