How financial coaching helped me save thousands

In an age full of financial advice and self-help strategies, I still found myself unsure of where I was going and what I needed to do to help improve my financial health.

So when I was offered the opportunity to take part in a financial coaching program through Keystart, and delivered by the Financial Wellbeing Collective, I signed up.

I am so glad I did as financial coaching became the catalyst for reshaping my financial habits and lifestyle choices.

With the guidance of my financial coach, I embarked on a journey that saw me farewell a decades-long smoking habit – and propelled me towards the goal of paying off my mortgage ahead of schedule.

Financial coaching empowered me to save thousands of dollars by overcoming a couple of challenges.

Lighting up my savings

Smoking was a daily routine for me for decades. Despite the escalating costs and health concerns (hello lung disease and liver lesions), breaking free from this addiction seemed insurmountable. It was through the lens of financial coaching that I began to perceive smoking not just as a health hazard but as a significant drain on my financial resources.

Assisting me in tracking my spending habits, my financial coach helped me quantify the true cost of smoking from the price of cigarettes themselves to the long-term health implications and associated expenses. With this awareness, I embarked on a gradual journey towards quitting, supported by the encouragement and accountability provided by my financial coach. In discussing my dreams and goals, I was able to detail a plan with my coach where I redirected the funds previously allocated to cigarettes towards savings and investments, which began to transform my financial landscape.

Accelerating mortgage freedom

With newfound momentum and a burgeoning savings account, I set my sights on another financial milestone – paying off my mortgage ahead of schedule. It was a goal I had wanted to achieve for a long time, but the prospect seemed daunting. My financial coach instilled in me the belief that with strategic planning and disciplined execution, it was an achievable goal.

Devising a tailored saving strategy that involved allocating money saved from my smoking habit to my mortgage savings account, I have been able to save an additional $25,000 in the last 5 months alone.

The Impact

The impact of working with a financial coach to help me embrace my skillset and money capabilities has been nothing short of transformative. Not only have I experienced tangible financial benefits, such as a significant increase in savings, but I am also enjoying newfound freedom in my daily life.

By freeing myself from the shackles of smoking, I am not only safeguarding my health but also reclaiming control over my finances. Similarly, the sense of achievement derived from making substantial strides towards mortgage freedom have given me with a renewed sense of purpose and confidence in my financial capabilities.

I’m on a journey from habitual smoker to financially empowered homeowner thanks to the incredible help of financial coaching. By providing tailored guidance, fostering accountability, and instilling a mindset of empowerment, financial coaching equipped me with the tools and motivation to effectuate meaningful change in my life.

Quitting smoking, building savings and taking more responsibility over my finances, has given me the confidence to make other changes in my life. I have started exercising weekly and have commenced building my own website to showcase various aspects of my life including cooking – a major passion of mine.

As I continue to reap the rewards of my new financial mindset, I am eternally grateful for the invaluable role that financial coaching has played in shaping my journey towards financial freedom.

The guidance of a skilled financial coach can instil the confidence and strategies for change that can be completely life altering.

I strongly recommend financial coaching to anyone who wants a more financially secure future.

• Cherie

Note: At the request of our client, a different name and image has been used.