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Frequently Asked Questions: |
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What is the difference between Financial Peace University (FPU) and Financial Coaching? |
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If I just have a quick question, may I call a Coach? |
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Wouldn’t debt consolidation or bankruptcy just be better? |
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How do I know if I need a Financial Coach? |
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How much does coaching cost? |
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How can I pay for coaching when I am broke? |
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Will you break up the coaching fee into payments? |
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What if my spouse will not come? Can I still work with a coach? |
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I want to make an appointment now. What do I do? |
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How do I prepare for my coaching session? |
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How often can I contact my Coach after our session? How does the follow-up work? |
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Will the My Financial Coach be able to contact creditors for me? |
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Is my financial information kept confidential? |
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What are clients saying about Financial Coaching? |
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What is the difference between Financial Peace University (FPU) and Financial Coaching?
The difference is the level of detail. Financial Coaching is our most detailed, comprehensive program offered. We will help you develop a plan specific to your financial situation. FPU offers weekly accountability and encouragement, plus you will learn more about budgeting, debt elimination, investing, insurance, and giving. |
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If I just have a quick question, may I call a Coach?
First, check out the Frequently Asked Questions on www.RKLFinancial.com. Then, check out our Blog to see if your answers are in one of the recently published posts. If you are not able to find an answer to your question on our website, give us a call at 716-200-9359 or send an email to info@RKLFinancial.com.
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Wouldn’t debt consolidation or bankruptcy just be better?
Debt consolidation is dangerous because you treat only the symptom of the problem. The debt and the habits that caused it are still there - you just moved the debt! You will pay about the same amount, which doesn't really help you pay your debts off faster. Most people take on more debt after consolidating or end up in bankruptcy because they didn't change their behavior. Bankruptcy is a gut-wrenching, life-changing event that causes life-long damage. Avoid it if at all possible. Bankruptcy is listed in the top 5 life-altering, negative events that one can go through. Chapter 7 bankruptcy, which is total bankruptcy, stays on your credit report for 10 years. Chapter 13 bankruptcy, more like a payment plan, stays on your credit report for 7 years. Bankruptcy, however, is for life. Loan applications and many job applications ask if you have ever filed for bankruptcy. Ever. A common misconception is that you can use credit repair services to fix the damage from filing bankruptcy. If you lie to get a loan because your bankruptcy is very old, technically you have committed criminal fraud. |
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How do I know if I need a Financial Coach?
Financial coaching is the most hands-on of any of our services. Our Coach (Ryan Loos) will help you develop a plan specific to your unique situation and help you implement this plan. Whether you're facing a crisis situation – facing bankruptcy, foreclosure, or creditors harassing you non-stop, or you need a plan for building wealth, help with a small business, or if you have some general questions about how to get on the right track with your money, financial counseling could be the right thing for you. Ryan is trained to handle a wide variety of situations and will help you get very detailed advice and a highly specific plan to make your money work for you! |
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How much does coaching cost?
We'll take into account your unique life circumstances to determine your fee (commensurate with the improvement we believe you'll make), designed so that if you follow our guidance it will likely more than pay for itself. Your coaching includes our unique 100% Satisfaction Promise: You must diligently follow our coaching recommendations for 6 months. If you don't begin experiencing the improvement we show you is possible, and have faithfully worked your plan ... then you decide your appropriate fee! |
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How can I pay for coaching when I am broke?
Financial coaching gives you a high level of detail and individual attention. As you move down the line from Financial Peace University to financial counseling, the increasing cost reflects the increasing scope of resources devoted to you. Although financial coaching can be expensive, for some it is a necessity. For others, however, it is a luxury. You will have to decide where to draw the line. If coaching is a necessity, then you also have to compare it to: 1) the costs of bankruptcy which can be $500-$2,000 in legal fees alone, or 2) the cost of credit counseling, which at $30-$50 per month for 4 years would cost around $2,000. Our fees are a bargain compared to these options, plus you'll have a plan to change your financial future! Many couples also find that by addressing their financial situation, the stress on their marriage is reduced. |
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Will you break up the coaching fee into payments?
We do break up the counseling fee into 2 payments if needed: We request the payment by either a check or cash. Remember, financial coaching is our most detailed program offered but coaching is geared toward your unique situation. |
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What if my spouse will not come? Can I still work with a coach?
Our policy requires that both spouses attend the coaching. We have found over the years that coaching only half of the marriage does not work. This must be a team effort. Try sitting down with your spouse in a non-distracting environment and communicating how much you love them and how much you want them to participate in the finances. Do not let this be a time to nag, yell, scream, etc. Tell him/her that attending financial coaching and/or FPU can be a Christmas/birthday/anniversary gift to you this year. |
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I want to make an appointment now. What do I do?
To inquire about an appointment or to set up your free 30 minute consultation with Ryan Loos (Dave Ramsey Certified Financial Counselor) call 716-200-9359 or email info@rklfinancial.com. |
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How do I prepare for my coaching session?
After scheduling you appointment you will receive an email with the paper work that you will need to fill out and email it back to us. This helps us understand your goals, priorities, and what you are hoping to achieve from the counseling session(s). |
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How often can I contact my Coach after our session? How does the follow-up work?
Your coaching fee includes 3, 6 or 12 months of limited follow-up (periodic phone calls, emails, and/or office visits at the coach's discretion.). |
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Will the My Financial Coach be able to contact creditors for me?
Our goal is to empower the client and give them the tools to do this on their own. However, in some specific situations, your coach may contact creditors on a client’s behalf. But we do not make payments for you. We assist only in the discussion with the creditor. Any payments will be made by you directly to the creditor. |
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Is my financial information kept confidential?
ABSOLUTELY! Your financial information will NOT leave our coaching session |
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What are clients saying about Financial Coaching?
Read what some of our clients have to say about their experiences at http://www.rklfinancial.com/113151.html. |
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