As a health coach, I find my clients think of eating better and exercise as what “health” really is. Did you realize there are 8 dimensions of wellness? Sure, nutrition and exercise fall under “Physical Wellness” but what about the other amazing pieces of your wellbeing? Today we will adventure into Financial Wellness with my finance guru Coach Ginny Payton Edgington!
We are teaming up today to pass on some free, smart and serious advice! Taking action today will insure your pay day for years to come. Make this the year you see dollar signs! Literally!
Ready to talk about the dirty topic of MONEY?! Coach Ginny is here to add a sexy spin to the topic we were all taught to keep “hush hush”. One problem with that attitude is we are now adults and don’t know where to turn for advice! Another problem, everyone you ask for advice has an agenda to make money off of you!
I think this is what originally attracted me to Ginny. For those of you that do not know her, she has a genuine passion for numbers and helping people. I once heard a story about her trading financial advice for a bunt cake! Yeah, she is basically as sweet as the icing I would put on said bunt cake!
Get to know Ginny, pick up some ideas and learn why you might need a money mentor!
Hi Ginny! As I got my finances together at the new year I thought to myself, “this is a great topic I am sure my community would love to hear about!”. I knew right away to call you!
Can you introduce yourself to everyone and tell us a little about your story with money?
“I am Ginny Payton Edgington; I am a certified personal financial counselor and have a MBA from Indiana Wesleyan University. I am the youngest of eight and the first to graduate from college. Because my mother was a single parent, I became obsessed with the handling, management and distribution of money. Since the age of 7, I was gainfully employed and lending money to my siblings (charging interest) before I even knew what the word interest meant!”
What is your favorite part about being a Money Mentor?
“I looooove empowering others with the knowledge of how to manage their resources. I have been teaching financial literacy for over six years on a volunteer basis. For every patient that has applied my principles, they are financially stable and very happy! I love how liberating money makes a person feel when they are able to demonstrate the discipline that is required to become financially free!”
What is the #1 relationship issue people have with money that you see in your coaching?
“People refuse to discipline themselves in the area of finance; they see it as “mission impossible” but really it comes down to “how bad do you want to succeed” with regards to managing your resources. The concept is extremely easy but the application (like health and wellness) is very difficult. Great sacrifices must be made in order to receive greater benefits later.”
I guess that’s like the discipline it takes to not eat the whole cake (though we know we could); one slice will be treat enough. Words like “budget” and “discipline” don’t have to be the negative sacrificial words we make them out to be. Think of it like portion control for your wallet!
What do you wish everyone would know to change their relationship with their finances?
“It’s not always how much you make but how you manage what you have! Start now, stay focused and never lose sight of your goal! For every goal that I reach, I set three more; it keeps me climbing so that I never grow complacent. I am always reaching for more and better.”
In coaching we know that our clients need to know where they are currently to measure their future success. Same thing with finances, right?
“Yes. My strategies are very invasive; they require total honesty, transparency, and accountability. I have to show people the good, bad and ugly regarding their finances. Oftentimes, people have no clue where they really are; they’re afraid to even look at how bad the damage is. My experience has been that it’s never ever as bad as it seems. The hardest part is getting started!”
So how should someone go about finding out the current state of their finances to gauge how much help they need?
“First, I would recommend that we start with my financial goal assessment. I customize a budget for them by bartering (like for cake!). I start with their income and then create a budget to show how much is needed to achieve their goals. After which, the accountability begins! Oftentimes, people need a coach to help them along because they lack discipline or don’t feel confident enough to do the work on their own.”
Do you have any recommendations on resources to determine this current financial state so we can start to look future improvements?
"The internet, specifically Pinterest, is my absolute favorite; they have something for everyone. It has very simple budget samples that are user friendly and most effective. Here is a quick set of steps:
1) Pull up your bank account and write down all of your monthly bills along with their due dates.
2) Review your pay stubs to have an accurate number to work with for setting up your income.
3). Let the work begin! Set up a budget to coincide with your goals, find an accountability partner and stick to the plan!"
When someone follows your steps to find their current status with their money, what steps do you advise next to insure their future stability?
“DISCIPLINE!!!!!! Do not spend more than you have, create a budget and stick to it every pay period, then repeat process. Every financial goal reached deserves a reward; treat yourself to something small to remind you of what you’re working towards.”
Can you walk me through, step by step, what a Money Mentor session/ relationship would look like?
“I would need to see my client’s bank account; pay stubs and bills (even the one’s they don’t intend to pay). We work together to customize a budget for them. They get a snapshot of where they are, where they want to go and the focus it will take to stay on budget. I coach them through every hurdle, partnering with them all the way to their finish line.”
What is the best financial advice you have ever received?
“SAVE!!!!!! Put your money up, give your money purpose. Have a destination for where your money is going; if not, money has wings and will fly away.”
If you could coach us all right now on one step to take TODAY toward financial freedom, what would it be?
“Focus in on your wants vs. needs and slow down on spending! Most of us already have everything that we need and a whole lot of what we want. Small sacrifices today foster great rewards tomorrow!”
How about in the next year?
“Stick to the financial plan, pay off bills, review your budget daily and repeat the process.”
How can people contact you to find out more about teaming up?
Ginny mentioned in our interview her style is a little blend of Oprah, Martha Stewart and Susie Orman. By the end of the interview, I could totally see why! I’m not going to lie, when Ginny offered to trade services I broke a little sweat at the thought of dissecting my finances! However, by the end of our conversation I felt a strange sense of liberation. This safe space Coach Ginny created had me excited about the prospect of improving my frugalities and focusing my spending on intention.
I wish this same experience for you all on your quest for financial wellness!
Remember these action items from our talk today:
Evaluate your money mood, what is your relationship with money? What grade would you give yourself? Then ask yourself if you are ready and willing to improve!
Keep in mind there are free resources all around from Pinterest, Mint.com, or if you have a business investing in software like Fresh Books may save you time and money. The process can be as simple or as scientific as you want to make it…but either way you need to make a plan!
And remember if accountability is your need you now know the guru herself so give Ginny a call!