FAQs

I’m new to all this…

What is money coaching?

We often say it’s like having a PT for your money. As with healthy living, sometimes we know we want to make a change for the better, but we don’t know where to start. Or maybe we already know what we should be doing, but just can’t seem to get over those behavioural blockers by ourselves.

As with a personal trainer, working with someone who is fun and approachable can help to:

  • educate you around topics you may otherwise find boring

  • break down monumental tasks into manageable steps

  • keep you honest and on track with progress

Having an accountability partner can help you make huge strides with your money habits. You may also find it useful to take a look at some of these specific challenges we can help you with.

So it’s like a type of financial advisor?

This is a common and easy mistake to make, but no. Money coaching is not regulated by the Financial Conduct Authority (FCA) and we do not offer financial advice. This means we cannot give you a specific recommendation on what we think you should do.

Instead, we offer general guidance and information to help you feel equipped to navigate financial decisions yourself. As with all good coaches, working with a money coach should help build up your confidence and self-belief, on top of feeling clearer and more in control. You can read more about the difference between financial coaching and financial advice here.

Are you a financial therapist of sorts?

Financial therapists are quite well established in the US and this emerging field helped give rise to money coaching as we know it today. However, please note that we are not trained as counsellors or psychotherapists at The Money Jam.

As coaches, we primarily aim to inspire action and progress. As such, we may invite you to explore deeper thought patterns in instances where it could help you to overcome mental blockers and move forward.

Are you qualified to do this?

Head Money Coach, Rosie Minikin, is a Certified Money Coach, having trained with the UK pioneer of money coaching, Simonne Gnessen. As financial coaching is still a very nascent profession, Rosie will be working towards an additional coaching qualification in 2021 with the International Coach Federation (ICF) to further enhance her impact as a money coach.

To reiterate, Rosie is not qualified as a financial advisor, financial planner, counsellor or therapist. Some money coaches do come from these backgrounds however, so a good place to find someone with financial advice or mental health credentials is Simonne Gnessen’s directory of trained financial coaches.

I’m intrigued…

What should I look for in a money coach?

As money coaching is not regulated by the FCA, we recommend taking particular care to look into the background and experience of the coach you are hoping to work with, just as you would with any one to one professional relationship. A good money coach will ensure:

  • They are fully present with you, so they won’t be distracted or talking about themselves a lot of the time

  • They remain neutral and impartial, so they won’t be trying to push you towards specific financial products

  • They maintain the highest standards of confidentiality, so they won’t be slapdash in how they handle any personal information

It’s also useful to have a think about what you want from your money coach, just as you would when selecting a life coach, career coach or personal trainer. Do you want a straight-talker who will give you a kick up the butt when you need it, or do you want someone a bit more gentle and understanding? For further tips, feel free to take a look at our article which offers guidance on how to find a money coach who is right for you.

What can I expect from a one to one session?

There are two things that we focus on to help make your time with The Money Jam as effective and impactful as possible. First, we keep one eye on the tangible results and improvements you are making to your financial situation. We also really care about your growth in confidence and how working with us makes you feel afterwards. You can read more about our style and approach here.

In practical terms, all our coaching sessions are conducted virtually on Zoom. Our one to one coaching sessions are completely tailored and flexible to your needs and preferences. This means we may spend time on:

  • Joining up your complete financial picture

  • Clarifying key information and considerations around a certain topic

  • Designing a practical and realistic action plan for you

  • Examining and reprogramming your habits and behaviour patterns

  • Listening to you talk through your money stories and money worries

We don’t achieve all this through conversation alone. We will draw on summary guides, worksheets and links to relevant calculators, tools and resources as needed. We keep pre-session asks to a minimum, usually a brief survey if relevant, plus any homework exercises we may set to keep you on track!

How do I know it’s safe to open up to you?

Money is a deeply personal matter. Whilst we are hoping to break down some of the taboos surrounding it through our Financial Wellbeing At Work movement, we appreciate that you may benefit from speaking with Rosie in confidence and perhaps getting things off your chest that you’ve never shared with anyone before.

I treat all client cases with utmost confidentiality, so even though all our private coaching sessions are hosted virtually through Zoom, nothing we discuss will leave those ‘Four Walls’. In some instances I may draw on my continuous professional development community of financial coaching peers and mentors for guidance on how best to help you. In this scenario, any details are fully anonymised (e.g. ‘I am working with a client who is facing xyz situation…’).

All client documents (e.g. copies of completed surveys and worksheets) are fully encrypted and stored in a Google Drive folder which only I have access to. Any attachments that we exchange by email are also fully encrypted to protect your personal data.

How much does a session cost?

Please be aware that we are currently offering a one-time pay as you feel option until the end of July 2021, in light of the significant financial adversity and uncertainty caused by the pandemic.

Our normal price for private, one to one money coaching with The Money Jam is £128 per hour. Please be aware that the first full session is always 90 minutes to ensure there is sufficient time to fully understand your context and make headway together.

You can access discounts if you would like to sign up for a coaching package and we agree that this will benefit you. You can also ask us about our pairs or group discounts if you would like to work with more than one person.

If you require a more affordable alternative to private coaching, why not sample our group coaching experience and become part of our monthly membership community?

Is there a minimum commitment?

No. Private coaching is offered on a pay as you go basis, so after our initial chat, you can just book one session and see how that goes. You can choose to commit to a longer term package of six sessions if we agree that this would benefit you. If you go for that option, you will be eligible for a programme discount.

Can I try something else out first?

Absolutely! We would love for you to check out some of our free resources, get to know The Money Jam community over on Instagram and sample The Money Jam membership experience.

In our view, getting to grips with the basics of personal finance is better suited to a group learning environment, which frees you up to seek one to one support for the more deep and complex challenges you may face along the way.

Let’s talk specifics

Where can I book myself in for a session?

If you would like to proceed with one to one coaching at The Money Jam, please arrange an initial chat with Rosie so we can get to know you and your situation a little better and make sure money coaching with The Money Jam is right for you.

Once agreed, Rosie will then share a separate online booking link which will allow you to select your preferred slot and pay for the session in advance.

What is your cancellation policy?

We get that circumstances change, so private coaching sessions are fully refundable if cancelled through the Acuity scheduling tool at least 48 hours before the session starts.

No refunds will be issued for sessions cancelled less than 48 hours beforehand. Alternatively, if you still want to go ahead with money coaching but need to change the time, you can request to reschedule as long as you give at least 24 hours’ notice.

Can I bring others along to a coaching session?

Provided you let Rosie know in advance, you are welcome to bring along one other person to your coaching session, whether it be a partner, family member or friend. If you are working with another coach, therapist or advisor in parallel, we are happy to include them in sessions where it would be relevant and beneficial to involve their professional perspective and knowledge of you as an individual.

If you would like to work in a pair or group (for example, if you would like to work on your finances together in your relationship, with your siblings or along with your housemates or friendship group), we offer discounted rates for both private money coaching and our monthly membership package.