How Financial Coaching is Different
People often hear "financial coaching," "financial education," and "financial advising" used interchangeably - but they serve different purposes. Understanding these differences can help ensure people are connected to the right kind of support at the right time.
Financial Coaching: A Supportive Conversation Focused on You
Financial coaching is a one-on-one, client-centered conversation that helps people:
- Clarify their financial goals
- Explore options and trade-offs
- Build confidence and follow-through
- Take steps that align with their values and real-life circumstances
Coaches don't tell clients what they should do. Instead, they listen, ask thoughtful questions, and help clients decide what makes sense for them.
At Financial Coaching Cats, coaching is:
- Free and confidential
- Voluntary and non-judgmental
- Focused on progress, not perfection
Coaching works especially well for people who feel overwhelmed, stuck, or unsure where to start.
Financial Education: Learning Information and Skills
Financial education focuses on teaching concepts, tools, and skills, often in a group setting. This might include workshops or classes on topics like:
- Budgeting basics
- Credit and debt
- Saving and investing
- Financial goal setting
Education is powerful for building knowledge - but it doesn't always address how someone feels about money, what barriers they're facing, or how to apply information to their specific situation.
Financial coaching often helps people put financial education into action.
Financial Advising: Technical or Regulated Guidance
Financial advising typically involves specific recommendations or technical guidance, such as:
- Investment advice
- Retirement planning
- Tax preparation or filing
- Insurance or estate planning
Advising maybe regulated and often involves fees or product-based services. Advisors play an important role - especially for complex or technical decisions.
Financial Coaching Cats DOES NOT provide investment advice, tax filing, or product recommendations. When appropriate, coaches help clients identify when advising services may be useful and how to prepare for those conversations.
How These Approaches Work Together
Rather than replacing education or advising, financial coaching compliments them. Coaching can help people:
- Prepare questions before meeting with an advisor
- Decide which information from a workshop applies to their life
- Follow through on next steps after receiving resources or referrals
- Feel more confident and empowered in financial conversations
Many partners find that coaching strengthens the impact of their existing services.
Still Have Questions?
If you're interested in financial coaching, or if you're not sure where to start, we're happy to help.
Email: financialcoachingcats@arizona.edu
Location:
Take Charge America Institute
McClelland Park Building - Suite 308
650 North Park Avenue
Tucson, AZ 85721
About Financial Coaching Cats
Financial Coaching Cats is a program of the Take Charge America Institute (TCAI) at the University of Arizona developed in partnership with the Norton School of Human Ecology and its Personal and Family Financial Planning (PFFP) Program. Through this partnership, trained University of Arizona students and staff provide financial coaching while gaining hands-on experience - expanding access to free, respectful financial support in the community.
All financial coaching is free, confidential, and voluntary.
We strive to make financial coaching accessible. If you have questions about language access, accommodations, or format, please reach out to our program coordinator at financialcoachingcats@arizona.edu and we'll do our best to support you.
The University of Arizona is an equal opportunity institution. The university prohibits discrimination based on race, color, religion, sex (including pregnancy), national origin (including shared ancestry and ethnic characteristics), age, disability, veteran status, sexual orientation, gender identity, or genetic information. Title IX of the Educational Amendments of 1972 protects individuals from discrimination based on sex in any educational program or activity operated by recipients of federal financial assistance. As required by Title IX, the University of Arizona does not discriminate based on sex in its educational programs or activities, including in admission and employment. Inquiries concerning the application of Title IX may be referred to the university’s Title IX Coordinator or to the U.S. Department of Education's Office for Civil Rights, or both. The university's nondiscrimination policy and grievance procedures and information about how to make a complaint of discrimination is available online.