Mind Over Money Planning FAQ

FAQs About Money Coaching

1. When do you meet with clients?
I meet with clients during the evenings and the 3rd Saturday of each month. Meetings will be held over the Phone, Skype or in person if you live in within Ventura and/or Los Angeles Counties. I realize you’re busy and sometimes it’s hard to meet within these days and times; however, I also believe that you can always make time to meet for something as important as your financial future.

2. Do you help women who are married or in a relationship with financial planning?
Yes, of course. Although my practice is designed to serve the women’s segment, I still work with many couples. I think that if you’re in a relationship, it’s important to engage in financial planning together. It can be empowering to your relationship to address the topic of money together, and it can also bring a confidence to your relationship because you’ll both become clear on where you stand and where you want to go financially.

3. If I’m planning with someone, do we both have to come to the meetings?
Yes. Since financial planning affects both parties involved, I prefer to meet with couples together for every meeting. If your situation is unique, we can address this in our Call to Action meeting and decide upon the best course of action.

4. How often do we meet?
In the initial Mind over Money PlanningTM process, we’ll meet for a series of four meetings to develop your financial strategy. The first meeting is our Call to Action meeting. During the meeting we’ll talk in detail about your financial goals and concerns, I’ll explain my financial planning process and how our relationship will work, and we’ll determine if we’re a good fit. If we are, we’ll move on to the Vision meeting, Purpose meeting, Strategy meeting, and Implementation meeting. From there, we will schedule a Mid-year review meeting six months later.

5. What are the steps in the financial planning process, again?
a. Call To Action meeting
b. Vision meeting
c. Purpose design and analysis
d. Strategy meeting
e. Implementation meeting
f. Mid-year review meeting

6. What happens once we’re done with the initial planning process?
Once we complete the initial twelve-month Mind over Money PlanningTM process, we’ll discuss how you would like to continue working together. I believe financial planning is needed every year or every other year, and most of the clients I work with decide to continue their financial planning program with me. Once we arrive at the end of our initial relationship, we’ll discuss your options for continued financial planning and address your specific questions and discuss fees for this ongoing financial planning relationship.

7. Do I have to pay a fee again next year?
It depends. You can decide to continue in the Ongoing Financial Planning Program, in which case a monthly financial planning fee will be assessed for each 12 month period that you engage in the program. If your situation completely changes, we may decide that you will need an entirely new financial plan, and therefore your fee will be similar to the one you pay in your first year.

8. Do I actually get a financial plan?
Yes, as a Mind over Money PlanningTM client you will get a written financial plan. But while the financial plan is important, it is not where the most value comes from. I believe the most value comes from our relationship and your access to me as your personal financial planner— someone who can act as a partner, educator and guide to help you plan out your financial future and work toward your financial goals.

9. Can I call or email you with financial questions at any time?
When you engage in the Mind Over Money PlanningTM relationship, you have ongoing access to me via email and telephone for the entire six-month period and I can help you address any additional questions (within reason, of course!). Should your entire situation change or should you want to discuss something entirely new, additional fees may be assessed. After the initial six months, you can continue in the Ongoing Financial Planning Program to continue having access to me for questions.

10. What if I am not ready for comprehensive financial planning?
That’s OK. The reason for our initial Call to Action meeting is to determine if you are ready for comprehensive Mind over Money PlanningTM and if it is a good fit for us to work together. If we discover together that Vision Mind over Money PlanningTM is not right for you, we can discuss my other service packages which may be a better fit for you.

11. How can I set up a budgeting system that actually works?
We will work together to create a spending plan that identifies all your current income and expenses. We’ll review options to track your income and expenses against the spending plan I create for you.

12. Will you tell me how much I can spend every month?
I will create a spending plan that highlights exactly what you are making and spending every month, and educate you on healthy ratios for your spending. However, I will not tell you what you can spend your money on. That’s your choice. I will show you what you need to do to reach your financial goals so you will be able to make educated decisions on how to spend or save your money every month.

13. How much should I be saving?
We’ll identify how much you will need to save to reach your goals and work together to find the balance between living for today and saving for the future. I encourage clients to aim to save 10-20 percent of their gross income. However, every client is different and at a different stage in life, so we’ll tailor this range based on where you are in life and the financial goals you have.

14. My significant other and I have never planned our finances together. Will you help us find a good system to manage our money together?
Yes. Part of our financial strategy will be developing a system to track income and expenses both as individuals and as a couple. We’ll review the various options you have to manage your money more efficiently as a couple.

15. Will you help me understand my accounts now?
Yes, I will help you understand what’s currently happening in your financial life. This means that we’ll review the types of accounts you have, talk about how to read the financial statements you receive and make sure your accounts are working efficiently and effectively for you and your financial goals.

16. Will you help me set up my bank accounts?
It depends. As part of the financial plan, I will review the structure of your current cash accounts and analyze your emergency fund needs. From there, we’ll discuss how you can structure your cash accounts and, if necessary, open up new cash accounts. I will assist in the decision process and educate you on how to open up these new accounts if needed.

17. What if I have debt? Will you help me with that?
Yes, I will help you create a debt management strategy as part of the comprehensive Mind over Money PlanningTM. From there, if you need
additional debt-management services, I will work to connect you to the appropriate professional who can help you further.

18. Do you draft estate documents for me?
No. I am not an attorney, so I do not draft any estate documents. However, I will work with you and an estate planning attorney to help you understand what estate planning documents you may need and educate you on the importance of them and why you need them. I work with a handful of qualified estate planning attorneys and can always refer you to a few who can help you with your estate planning needs.

19. Will you help me apply for insurance?
Yes. I’m licensed in specific states to offer disability, life and long-term care insurance. As our financial planning relationship evolves, we’ll get a better understanding of what types of insurance you may need based on your current financial situation and financial goals. If you need insurance outside of the scope of my services, I will refer you to other insurance brokers who can help you address your additional insurance needs.

20. Can you help me manage my investments, too?
No. I do not manage your specific investment accounts but will be able to help you with the investment philosophy and strategy for your money based on your financial goals and financial plan.

21. I am clueless about investing. Can you teach me what I need to know?
Yes. Part of my role as a financial planner is to educate you on the importance of financial planning and make recommendations; this includes investing. I’ll educate you on your options to ensure that you’re comfortable making investment decisions. If you’re already investment-savvy, we’ll discuss my investment philosophy and determine if it’s a good fit.

22. How to I start investing?
If you have no investing experience, I’ll help you get started by educating you about your investment options. Within the comprehensive Mind over Money PlanningTM process, we will define, together, what financial goals you are investing for and create an investment approach that is right for you.

23. Do you help me pick my investments for my 401k plan?
I will help you understand the investment philosophy and portfolio allocation you should follow for your 401k account. However, since I cannot manage your 401k, I cannot actually provide you specific advice on this account.


Contact me today to schedule your FREE 15-minute Phone Call to Action Session.

Email info@cozettemwhite.com or call (805)983.1151.