Coaching vs. Counseling
Each person's version of _______ is unique to their values and circumstances.
Financial Security
What should act as the driver for all coaching conversations?
Financial Goals
This prepares clients for emergencies and unforeseeable expenses.
The habit of savings
ATM Fee, Check cashing fee, maintenance fee, money order fee, prepaid cards, overdraft fees
This is the first step to managing your debt.
Organize debt in one central location
This term describes a prescriptive, coping-oriented, deficit-based approach
Counseling Approach
What are the two actions you can help the client with when it comes to setting a goal?
Identify a Goal & Prioritize a Goal
This phrase is Change Machine's savings coaching mantra.
Savings is an activity not an amount
What is the best website for your clients to access their free credit reports?
These are two common strategies for paying down multiple debts.
Avalanche and Snowball
Which characteristic of the coaching approach invites positive, lasting behavior change through creative solutions, clearly defined actions and mutual accountability?
Accountability
What are the three characteristics of an effective goal?
Strengths-based, Forward thinking, Passionately held
This is step number one in creating a spending plan.
Finding a Tracking Method
You can open a checking account without a social security number but you might need one of these.
Foreign passport, benefits card, consular ID, foreign photo ID, ITIN.
What is considered a low-priority debt when money is scarce?
Credit Cards
What is the term for respecting a shelter resident’s feelings, experiences, and values, even though they may differ from yours?
Acceptance
These types of questions help spark your conversations with clients.
Open-ended Questions
The key to coaching clients to overcome their resistance to saving is to use a non-judgmental approach to a simple formula: Statement of Acknowledgment + Forward-Thinking Solution + __________
Follow-Up
What makes up 35% of your credit score?
Payment History
What debt payoff strategy focuses on paying down the highest interest rate first?
Avalanche