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C.O.A.CH Model
Budgeting and Banking
Credit and Credit Reports
Practitioner Tools
Miscellaneous
100
An ongoing, systematic, collaborative process for assisting clients to change behaviors. Its focus is on long-term outcomes, supporting new behaviors, building skills and teaching content based on the client’s unique needs and goals.
What is a Coaching?
100
A financial plan that allocates personal income towards expenses, savings and debt repayment.
What is a Budget?
100
A number that predicts how much of a financial risk you are.
What is a credit score?
100
A fun interactive game to teach budgeting.
What is Budget Bean Game?
100
When someone uses your personal information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes. This is the best time to provide resources and not coach.
What is Identity Theft?
200
What your client wants to have happen…does your client have an end in mind…ask about the opportunities and options they believe are open to them…support your client in creating the vision – what they will work toward.
What is Outcome?
200
A cost that does not change from period to period or that changes only very slightly. They are usually paid on a regular basis, such as week to week, month to month, quarter to quarter or year to year.
What is a Fixed Expense?
200
The website that you can get a free credit report.
What is annualcreditreport.com?
200
A tool used to help clients become aware of their subconscious thoughts and behavior patterns that are the “operating system” for our daily lives.
What are Money Habitudes cards?
200
A professional who can assist with a variety of financial topics including insurance planning, investments and securities, retirement and estate planning.
What is a Certified Financial Planner?
300
Once your client has considered the opportunities and identified some choices for movement towards goal…focus on the details to outline the next steps…what steps must they take
What is Action?
300
Money set aside to meet longer term goals. It usually has higher risk and higher return.
What is Investing?
300
A type of credit in which there is concrete amount due within a period of time with rates and fees charged up front, i.e. mortgage.
What is Installment Credit?
300
A tool to help clients create specific and realistic goals.
What is SMART Goal worksheet?
300
Branch of economic and financial analysis that uses social, cognitive and emotional factors to understand the economic decisions of consumers, borrowers and investors, and their effects on market prices, returns and the allocation of resources.
What is Behavioral Economics?
400
The process of seeing if the client is progressing…what feedback do they need…are they wrestling with their saboteurs and getting stuck in a comfort zone…what is the next step to keep them moving…have they really made a commitment to their commitment to action
What is Checking?
400
Money saved for a set period of time or term. It usually has a higher rate of interest than savings account and can have penalties if withdrawn before the term ends.
What is a Certificate of Deposit or CD?
400
A specific credit limit in which fees and interest dependent on amount of debt accrued, i.e. credit card.
What is Revolving Credit?
400
A tool that helps you see patterns and family origin for relationships with money.
What is a Money Genogram?
400
A federal refundable tax credit for working individuals and families. It reduces the amount of income tax liability and could add hundreds or thousands of dollars to the income tax refund.
What is the Earned Income Tax Credit?
500
Knowing your client, if there is something on the table, don’t dance around it…find out what is going on and what has already been done about it…ask for the celebrations or what they are most proud of to acknowledge their strengths – what they are really good at.
What is Competencies?
500
Record or report of how individuals have handled deposit accounts at financial institutions, including banking irregularities such as check overdraft fees, depositing fraudulent checks, unsatisfied balances or other suspicious handling of accounts
What is ChexSystem?
500
The two categories of a credit score that make up 65% of the score. These are the major things to consider when trying to improve ones credit.
What is Outstanding Debt and Past Payment History?
500
A tool that can be used to explore and identify self sabotage and overcome roadblocks.
What is Inner Critic Worksheet?
500
A communication strategy involving two key steps: seeking to understand a speaker's idea, then offering the idea back to the speaker, to confirm the idea has been understood correctly.
What is Reflective Listening?