Achieve financial wellbeing with expert financial coaching

8 min read |
Claire Campher |
Oct 6, 2025

Just like working with a sports coach, working with a financial coach can help you identify your current strengths and weaknesses, make a plan to hit your goals and take action towards your desired financial future. 

We’re here to break down why you should consider connecting with a financial coach to boost your financial wellbeing and make progress towards the things you really want. And, if you’re an employer putting together your benefits package, you’ll also find out why financial coaching can make a huge difference to your employees.

Key takeaways

  • Financial wellbeing encompasses financial resilience, money management, future planning and money mindset.
  • Building good financial wellbeing can improve your physical and mental health, as well as your productivity at work.
  • The right financial coach can support you to identify your financial goals, create a plan and stick to it.
  • You might choose a coach based on their qualifications, coaching style or characteristics. 

What is financial wellbeing?

You might have heard the term ‘financial wellbeing’ over the last few years, when it has come into the spotlight. Just as physical and mental wellbeing can be core components of a happy and healthy life, so can financial wellbeing. But it isn’t just about the pounds in your bank account!

Financial wellbeing is made up of four key pillars that together shape your overall relationship with money:

  • Financial resilience: how easily you can survive financial shocks, including job losses, ill health or other disasters. 
  • Money management: how you deal with everyday spending, saving and borrowing. 
  • Future planning: how well-prepared you are for your long-term goals, including retirement.
  • Money mindset: your feelings about money and how these influence your behaviours. 

The importance of financial wellbeing

Studies suggest that financial worries can have a big impact on our overall levels of anxiety and stress.This can then have a big knock-on effect on performance at work as well as health and happiness at home.

These worries are not unusual, especially given the instability of the economy, rising cost of living and difficult labour market of the last few years. We know that 1 in 10 people feel ‘hopeless’ about their finances, for example.

So looking after your financial wellbeing – and that of your team – can help alleviate stress and even improve productivity in the workplace. 

As an employer, supporting your team members with financial wellbeing can also be a powerful way to show that you care and want to make a tangible difference to their lives, both inside and outside work. 

How financial coaching can help

A financial coach is someone who can walk you through the basics of personal finance, work on good money habits, improve your mindset, set goals and decide next actions.

More specifically, a financial coach can support with:

1. Helping you set goals

A great coach will ask you insightful questions to help you understand your own goals and desires. If you’ve got a few ideas in mind (buying a home, getting married, travelling, studying or building your savings pot, for example) the coach can also help you understand which are long or short-term, and which you might prioritise. 

2. Creating personalised financial plans

Your coach can help you draw up a plan of action for getting your finances in order. This can be an important step in making progress, especially as a clear plan usually begins with assessing where you are right now, and how to get where you want to go. For example, when considering retirement, your coach can help you pinpoint how to gather details of your current pension savings, understand how much you might need in future, and direct you to the tools to explore how to get there. 

It’s important here to note the difference between a financial coach and a financial advisor when it comes to planning. An advisor can give you specific advice on investments, products and savings. A coach won’t do this, but will help you identify where to do your research, ask the right questions and know when to approach a regulated professional if needed. 

3. Shifting money mindset

Everyone brings some emotional baggage to how they deal with money. Your mindset can be coded from a very young age – even as young as five – depending on factors like your family’s circumstances, how your parents and friends talk about money, the media and behaviours you see around you. That mindset can get in the way of achieving your financial goals, whether that’s through overspending, fear of planning or poor decision-making, amongst other things.

Your coach can work with you on understanding your baseline money mindset and what steps you can take to address any fears and concerns, so you can move forwards with confidence.

4. Budgeting and money management

Your coach can help you build a budget to help you manage your everyday finances, from grocery shopping to public transport costs. While you might choose to build your budget on paper, getting a coach through Maji means they can help you use the open-banking tools to effortlessly track your spending and create a categorised plan.

5. Debt elimination strategies

If you’ve got debt weighing you down, your coach can help you set up a plan to tackle it. If needed, they can also signpost you to services that support more complex cases. 

6. Getting started with saving and investing

Although a coach can’t direct you to specific investments, they can help you look at your financial situation and decide what kinds of savings or investment accounts might work best for you. They can also help you assess for yourself how much you might like to save or invest to achieve your goals.

7. Accountability and support

Meeting with your coach regularly can keep you on track, as they will often ask you to give an update on your actions and progress towards your goals. For lots of people, having an  accountability partner (such as a coach) can be a great way to stay focused and keep up momentum.

Choosing the right financial coach

Financial coaching is a growing industry, giving you lots of options to choose from, for yourself or your company. Working with a provider like Maji can be a shortcut: Maji works with a team of experienced coaches offering confidential 1:1 online sessions. 

To pick a coach, you might consider:

  • Qualifications: As coaching is an unregulated sector, there’s no formal qualification that financial coaches need to have. However, many coaches will bring past experience and specialised training to the table. For example, have they worked in the financial sector? Have they done a coaching qualification? Do they have a financial coaching certificate? 
  • Personal compatibility: You might have a particular reason for choosing a coach whose background or experience matches your own. This can be a highly personal choice, but for some people, a coach from a similar age, gender or cultural background might feel more aligned. 
  • Coaching style: When selecting a coach, you might be able to find out more about their personal coaching style. Some might be more hands-on in terms of helping you create concrete plans and budgets; others might take more of a question-based or therapeutic approach. You should consider what would work best for you.
  • Testimonials: Many coaches will be able to provide client testimonials that show how people can benefit from their work. 

Setting up financial coaching for employees

If you’re interested in bringing the benefits of financial coaching to your employees, working with an established financial wellbeing provider like Maji can help. There’s no need to track down and contract individuals, as Maji brings trusted and experienced coaches to you.

To run through how coaching could benefit your team, book a call with Maji.

FAQ

What is financial coaching?

Financial coaching addresses your money mindset and day-to-day money management, as well as helping you set and achieve goals. While a coach won’t directly tell you what to do with your money, they will ask questions and help you gather information to support you in making your own choices. 

Can financial coaching support my financial wellbeing?

Financial coaching can be a great way to build financial wellbeing, as it can help you address the key areas of money mindset, management and planning. The element of accountability can help you stay on track.

Think Money. Think Maji.

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This content is for information purposes only. You should not construe any such information or other material as legal, tax, investment, financial or other advice. Any figures or references made were accurate at the time of publishing, and we cannot guarantee they remain correct after this date. We often link to other websites, but we aren’t responsible for their content.

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