A wealth coach walks through the reporting system that tracks client progress on cash flow, debt reduction, and home ownership goals. Monthly, quarterly, and annual summaries keep clients informed and motivated to hit their targets.
So part of the wealth coaching program here is we want to keep you in a loop. We want to keep measuring you or weighing you in every single month. So this is the correspondence you're going to receive from us. Every month you're going to get a statement from us, it's going to be handwritten telling you exactly what your surplus cash flow was for that month or how much you paid your loan down for that month. Hopefully it's got a scratch and sniff sticker or something cute there to say. Great job, keep moving the debt down, we're on your side. Every month you're receiving that 12 months a year. Then you're also going to receive a snapshot summary every 90 days. So for the first 12 months, you're receiving every three months a snapshot saying this is the last three months income, your last three months expenses, this is the debt reduction each and every month. And these are what your redraws were for, itemized month in, month out. So you've got a very clear idea of what money came in for October, what expenses went out for October and where those expenses were. So what we want to really focus on is measuring your cash flow and making sure there's a surplus each and every month. And over a 90 day period, we send you a three month snapshot which summarises all that for you with some nice graphs and also your savings rate, you'll be able to see exactly what percentage of your income you're saving. Then we've got an annual report. Now this annual report is like your school report card. At the end of the year it's going to really show what your income average was for the year, what your expenses average was for the year, what what your average debt reduction was per month, or what your average surplus cash flow was per month. We take a photo of your house, we show you your house. This is how much the bank owns, this is how much you own. Then next year, this is how much the bank owns, this is how much you own. So every single year you can see how much your house you're actually owning because you said when we first sat down, our number one financial goal is to own our own home. We want to be debt free. We all know you can't retire with a mortgage, so we want to pay the house off as fast as we possibly can. And what this does is visually show you how to how far along that goal of owning your own home you are. So the monthly touch points, every 90 days you're getting this 90 day snapshot which is just a summary of the last 90 days that have been. And then once a year, you get that annual report card which highlights the whole year that was the average income, expenses, savings rate, everything that you need to know, all the way ins there for you, graphed visually. Because we're mostly visual people, and that's why we want to put all this rather than sending you figures on a piece of paper or on a spreadsheet, or we want to show you visually how that looks with graphs. And as a result, you can then be assured that you're getting closer and closer each and every year to owning your own home.
