Earn $5,700 Monthly by Offering Online Personal Finance Coaching

Last Updated on September 29, 2024 by Arif Chowdhury

Ever feel like you’re drowning in a sea of financial advice?

Sick of the same old “skip the latte” tips that don’t move the needle?

You’re not alone.

Millions are struggling to make sense of their money.

But here’s the kicker:

People are willing to pay for real, actionable financial guidance.

And that’s where online personal finance coaching comes in.

It’s a game-changer.

Not just for clients, but for coaches too.

Imagine pulling in $5,700 a month doing what you love.

Sounds crazy, right?

It’s not.

Let’s break it down.

The Personal Finance Coaching Goldmine

Financial stress is through the roof.

54% of Americans are living paycheck to paycheck.

That’s over half the country.

They’re desperate for help.

But not just any help.

They want personalized, practical advice.

That’s where you come in.

As an online personal finance coach, you’re the lifeline they need.

You’re not just spitting out generic tips.

You’re tailoring advice to their unique situation.

And people are willing to pay for that.

Big time.

Why $5,700 a Month is Totally Doable

Let’s crunch some numbers.

The average personal finance coach charges $100-$300 per hour.

Let’s be conservative and say you charge $150.

To hit $5,700 a month, you need 38 hours of coaching.

That’s less than 10 hours a week.

Totally doable.

But here’s the real secret:

It’s not just about the hourly rate.

It’s about creating value.

When you help someone save thousands or boost their income, $150 an hour is a steal.

They’ll keep coming back for more.

And they’ll tell their friends.

That’s how you build a sustainable coaching business.

The Skills You Need (Hint: You Probably Already Have Them)

Think you need a finance degree?

Think again.

The most successful personal finance coaches aren’t always the ones with fancy credentials.

They’re the ones who:

  • Have real-world experience managing money
  • Can explain complex concepts in simple terms
  • Are passionate about helping others
  • Know how to listen and empathize

Sound like you?

Then you’re already halfway there.

Getting Started: The Nitty-Gritty

Ready to dive in?

Here’s your roadmap:

  1. Nail down your niche
    • Budgeting for millennials?
    • Investing for retirees?
    • Debt payoff strategies?
    • Pick something you’re passionate about
  2. Build your knowledge base
    • Read personal finance books
    • Follow top finance blogs
    • Take online courses
    • Stay up-to-date on financial news
  3. Set up your online presence
    • Create a simple website
    • Start a blog or YouTube channel
    • Be active on social media
    • Share valuable content for free
  4. Develop your coaching program
    • One-on-one sessions
    • Group coaching
    • Online courses
    • Membership sites
  5. Price your services
    • Start lower to gain experience
    • Gradually increase as you build your reputation
    • Offer packages for better value
  6. Market like crazy
    • Network with other finance professionals
    • Guest post on popular blogs
    • Speak at local events
    • Use paid advertising strategically

The Secret Sauce: Delivering Massive Value

Here’s the thing:

Anyone can call themselves a coach.

But to hit that $5,700 a month mark?

You need to be exceptional.

How?

By delivering insane value.

We’re talking life-changing results.

Some ways to do that:

  • Provide actionable, step-by-step plans
  • Create custom spreadsheets and tools
  • Offer unlimited email support between sessions
  • Celebrate every win, no matter how small
  • Hold clients accountable (kindly but firmly)

When clients see real results, they’ll stick around.

And they’ll tell everyone they know.

That’s how you build a thriving coaching business.

Overcoming the Biggest Hurdles

Let’s be real:

Starting any business is tough.

Online personal finance coaching is no exception.

Here are some common roadblocks and how to smash through them:

Imposter syndrome

  • Remember: You don’t need to know everything
  • Focus on what you do know and how it can help others
  • Keep learning and growing

Finding clients

  • Start with friends and family
  • Offer free sessions to build testimonials
  • Use content marketing to showcase your expertise

Scaling your business

  • Automate where you can (scheduling, billing, etc.)
  • Create digital products to supplement your income
  • Consider group coaching to serve more clients

Staying motivated

  • Set clear goals and track your progress
  • Celebrate every win, no matter how small
  • Connect with other coaches for support and accountability

The Impact: More Than Just Money

Here’s the best part:

This isn’t just about making $5,700 a month.

It’s about changing lives.

When you help someone get out of debt, start investing, or achieve their financial goals, you’re not just impacting them.

You’re impacting their family.

Their future.

Their entire life trajectory.

That’s powerful stuff.

And it’s what will keep you going on those tough days.

Real Talk: It’s Not Always Easy

Let’s get one thing straight:

Building a $5,700/month coaching business takes work.

It’s not a get-rich-quick scheme.

You’ll have ups and downs.

Days where you question everything.

But here’s the truth:

If you’re passionate about personal finance and helping others, it’s worth it.

The freedom, the impact, the income potential…

It’s all there for the taking.

You just have to be willing to put in the work.

The Next Steps: Taking Action

So, what now?

If you’re fired up and ready to go, here’s what to do:

  1. Assess your current financial knowledge
  2. Identify your target audience
  3. Start creating content (blog posts, videos, social media)
  4. Offer a few free coaching sessions to gain experience
  5. Set up your basic business structure (website, payment system, etc.)
  6. Start networking and marketing yourself

Remember:

Progress over perfection.

You don’t need everything figured out to start.

Just take that first step.

The $5,700 Month: A Breakdown

Let’s circle back to that $5,700 goal.

Here’s one way it could look:

  • 20 one-on-one coaching sessions @ $200 each = $4,000
  • 1 group coaching program with 10 participants @ $97 each = $970
  • Digital course sales = $730

Total: $5,700

Is it guaranteed?

No.

Is it possible?

Absolutely.

In fact, the top 25% of personal finance coaches earn over $100,000 annually.

That’s some serious potential.

Final Thoughts: Your Financial Coaching Journey

Starting an online personal finance coaching business isn’t just about the money.

It’s about freedom.

Impact.

Fulfillment.

It’s about waking up every day excited to make a difference.

And yeah, the potential to earn $5,700 a month (or more) doesn’t hurt either.

So, what are you waiting for?

The world needs more honest, passionate financial coaches.

Why not you?

Take that first step today.

Your future clients (and your bank account) will thank you.

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