What Kind of a Financial Coach Should You Hire If You Want to Become a Digital Nomad?

What Kind of a Financial Coach Should You Hire If You Want to Become a Digital Nomad?

Shlomo Freund  04/09/2020 17
What Kind of a Financial Coach Should You Hire If You Want to Become a Digital Nomad?

The world is changing in front of our eyes so fast.

Less than a year ago, before COVID-19 started, the world was an open place. Just travel to wherever you wish and experience it. Nowadays, traveling is pretty limited. 

However, as closed as the world became, COVID-19 caused another significant change. It pushed more and more people to work remotely. These people saw they can still have a proper work-life balance and be able to work remotely. As a result, it led them to understand that they can hold a remote job, have a digital nomad lifestyle, and become one when they can travel again. 

Of course, COVID-19 changes, and change of lifestyle brings a lot of financial changes as a result. These can be changes in your job, income, and expenses. It's best to deal with these changes consulting with someone who has experience with being a nomad and financial coaching. 

So, What to Look for in a Financial Coach when you'd like to Become a Digital Nomad? 

1. Lifestyle Fit - There are many kinds of financial coaches focusing on different audiences. The main reason for that is because one size doesn't fit all. When you know the lifestyle of your clients, you can help them best. That's because you know their struggles and challenges, relate to them, and offer solutions. 

As an example, people who would like to be digital nomads don't have the same needs as pastors who need financial coaching. It's not a joke; there are financial coaches whose expertise is working with pastors and serving that audience. 

So, although I'd be able to help a pastor with his finances, a financial coach with such expertise will be much more effective and can offer more solutions to their challenges. 

My point is, choose a financial coach who knows about the lifestyle you plan for yourself and have experienced it. 

2. Communication - Like with every service provider you work with. All things being equal, you'd feel more connected to a specific person than another when you first speak. So, choose someone you'd like to work with. 

3. Type of program and cost - Different financial coaches offer different plans. Some would have an ongoing program of a weekly meeting; some will have a limited time one gets you to a specific goal. The type of program influences the costs, of course. So, choose the plan that fits you. 

 

One more point to keep in mind: Becoming a digital nomad is a big step. Working with people whom you've haven't met can be challenging. However, many service providers are moving to work entirely online and build services, especially for nomads. They are still able to make good connections with their clients. 

So, when you find someone you'd like to work with, do your research on that person. See what's their experience, check testimonials, and get confident. Doing this research before you start to work with someone is how you'd feel the most open when you work together with that person.

Finance is a personal thing, and trust should be built. 

 

Download my Net Worth tool to see how much you are worth.

It's the first step to assess your finances to become a digital nomad. 

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  • Rebecca Wyer

    Well explained. Be flexible and make sure a financial coach is actually what you’re after. Don't waste his/her time.

  • Thank you Rebecca.

  • Benjamin Milburn

    I would ask any prospective financial coach how they would describe their lifestyle and then think about if that is the type of support I need at this point in my life to achieve my objectives.

  • Good point of this Benjamin. Thank you.

  • Gerry Tilmouth

    Well worth a read

  • Thank you Gerry

  • Carl Arrowsmith

    Online reviews aren't enough !

  • Ross Smith

    In reply to: Carl Arrowsmith

    I personally prefer genuine testimonials

  • Agree with both of you Carl and Ross. Make your due diligence.

  • Liam McGrane

    Great article

  • Thank you Liam

  • Eugene Kenny

    Remember everyone, as long as it's affordable and not expensive, this is an investment in yourself and your future, and you are worth it!

  • Yes, it's a self-investment which pays off quickly.

  • James Harrison

    I would do a consultation for free before making a decision. Trust is earned.

  • You are right. And I won't take a client, I'm not sure I can help.

  • Becky Hunter

    Really well explained

  • Thank you Becky

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Shlomo Freund 

Financial Coach Expert
Shlomo Freund is a location-independent entrepreneur and has been for the past 15+ years. His lifelong passions for finance, investing and travel lead to the creation of his current business, Free Financial Self, which helps people organize their finances to reach financial independence faster. 
This allows them to live, work and enjoy life with friends and family both wherever and whenever they like. The end result? Armed with a strong, customized roadmap built around financial and personal lifestyle goals, an increase in individual happiness
   

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