Personal Financial Coaching Questionnaire
The examples in purple are included to give you some guidance. Delete and replace them with your own answers when you’re ready to give this exercise a go 🙂
To effectively respond to these questions, it’s essential to first examine and understand your relationship with money. Do you primarily spend, save, or find yourself somewhere in the middle? This step is designed to delve into your overall approach to managing money, encouraging you to explore aspects of your financial behaviour. By doing so, you’ll be laying the groundwork necessary to establish your financial blueprint.
1. Understanding Your Money Relationship
How would you describe your relationship with money? Are you a spender, saver, or do you fluctuate between the two? Provide examples of recent financial decisions that illustrate this relationship.
Example Answer: I consider myself a saver. For instance, last month, I opted to cook at home instead of dining out to save money for an emergency fund.
2. Spending Habits Reflection
Reflect on your spending over the past month. What are the top three categories where your money goes? Do these expenditures align with your financial goals?
Example Answer: My top spending categories are rent, groceries, and online courses. While rent and groceries are necessities, investing in online courses aligns with my goal of professional development.
3. Defining Your Financial Blueprint
What are your top three financial goals, and why are they important to you? How do they reflect your values or desired lifestyle?
Example Answer: My top three financial goals are building an emergency fund, saving for a down payment on a house, and investing in retirement. These goals are important as they provide security and stability, and ensure a comfortable future, reflecting my value on financial independence.
4. Prioritizing Financial Goals
Rank your financial goals in order of importance. Explain why you’ve chosen this order.
Example Answer: 1) Building an emergency fund - It's crucial for immediate financial security. 2) Saving for a down payment - Homeownership is a long-term goal for stability. 3) Investing in retirement - Important but can be adjusted as I progress in my career.
5. Strategy Alignment
Considering your financial blueprint, what specific actions will you take to align your spending habits with your goals? Include any changes you plan to make or strategies you’ll adopt.
Example Answer: To align with my goals, I plan to set aside 20% of my monthly income into a savings account for my emergency fund until it's fully funded. Additionally, I'll cut unnecessary subscriptions and allocate those funds towards my house down payment savings. For retirement, I plan to contribute to my employer's 401(k) matching program to maximize my investment.
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Thank you so much for dedicating your time to completing our questionnaire. Your commitment is the first step towards transforming your vision into a thriving reality, and we are thrilled to support you on this journey. Your dreams have found their home in Djigui. Let’s build something remarkable together.
