JW’s Financial Coaching Podcast Lesson #13 How to help others with their finances


Highlights of today’s show:

  • Instead of focusing on how to improve your finances we talk about helping others
  • Hard to help others if they don’t ask your advice
  • Get permission to give advice by talking about what you’ve done to get control of your finances
  • When giving money to others you need to determine whether you are helping or hurting that individual
  • Still time to sign up for the “YOUR Economy” Webinar

So often we talk on the podcast about how to handle YOUR finances, but today we are going to discuss how you can help others with their finances. Help can come in either one of two ways: 1) Giving financial support 2) Giving financial advice.

Giving financial support can be tricky and before you do give support you must answer the question; is this money going to harm them or help them. Sometimes giving someone money, without modifying the behavior that got them into the mess, just makes things worse. That does not mean you should never give someone money, but make sure any money you do give is tied to changes in behavior. If those conditions can’t be meant, it is perfectly acceptable to say no when asked to give someone money.

Giving financial advice is tricky as well, because if the advice wasn’t asked for it’s going to be very hard to change someone’s view. The best way to help someone when asked is to first talk about what you have done to get your finances under control and how that has helped you out.

Ultimately the best way to give help to others is to first get your finances under control. By doing things financially that most people can only dream of, you will have credibility to share what you have done with others.

Finally, I’ll be doing a webinar titled “YOUR Economy” on Tuesday, November 6th at 9:00 PM EST. Yes, that is election night, but this webinar is not political in nature. Instead we will be focusing on ways to improve YOUR economy not only with your finances, but with your career as well. The webinar itself will be 30 minutes in length and we will have a 15 minute Q&A afterwards. Please plan on attending.

You can subscribe to future Podcasts through FeedburnerStitcher SmartRadio, or iTunes. Or you may listen to the podcast on the JW’s Financial Coaching Facebook Fan page. In addition, if you have enjoyed the show for a while now, please leave a review of the podcast on iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes. Big thanks to my friend Glen Steinson for helping me create the video.

If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me:

1.) Email me at JWFinancialcoaching@gmail.com – Please put “podcast” in the subject line and keep your questions brief so they are readable on air.

2.) Simply fill out the form on the contact page. Please fill out your name, email, and your question/comment/suggestion and we will read it on air.

You can find prior editions of the podcast at the podcast archive page.

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