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Career Connections: Financial Coach

6 minutes

(Describer) Beside four different-size different-color circles connected by lines, title: Career Connections. Under a line graph, title: Financial Literacy.

(Describer) Title: Financial Coaching.

[whistle blows]

(Describer) Basketballs go through a hoop in a gymnasium. A woman holding a ball fakes, then passes and dribbles.

(Describer) She holds the ball.

Money Matters-- All About the Fundamentals-- planning before spending can give you even more money in the long run. Pay yourself first. Good habits, like saving money, is the most effective way to realize all your financial dreams. You can bank on that.

(Describer) She shoots a basket.

Know your net worth. Understanding the value of your belongings can make you rich. Nothing but net.

(Describer) She shoots another.

Bad credit? [whistle blows]

(Describer) She blows a whistle.

Foul to your credit. Your credit score stays for life. It's never too early to start building a good credit history.

(Describer) She bounces the ball off the backboard and catches it.

Financial recovery is a rebound-- getting back on track after a setback on your road to a bright financial future.

(Describer) She dribbles. In an office, Michelle Gorusch:

I've always worked for a nonprofit. In my past position, I was a preschool administrator. I helped the family. I would get them registered. They would tell me their needs. People would come with basic needs-- utilities, rent, food. I would give them resources, but I never knew if they ever followed up. I also knew their income, which they weren't able to manage. There was an open position here. When I started the position, it was just beginning, so I was able to grow with it. As clients came in for coaching sessions, they taught me what the community needed, and I built on that. People coming in typically need help budgeting their money, managing their income. At the first coaching session, we'll do a budget together. We track expenses, figuring out where their money's going. Many come in with never having written their expenses down. They don't know their total income. They'll go by their gross income versus their net income. Once it's written down, that is the main tool. We'll look at the budget and see where we can decrease spending. How can we find more money? We use priority sheets and set goals. Many people don't have goals or understand how to reach them. They say they want to buy a home or pay off debts, but there are steps to that-- setting a SMART goal.

(Describer) Title: What classes should I take for this career?

I would say definitely classes on budgeting, accounting, but mainly some psychology, some sociology. This position would require you handle your own finances first. If you have that ability, that's a good start. The next thing is, do you have heart, passion, drive and truly want to help others and care about others? Then this would be a good job for you. You should continuously train, but you should also know about the Ohio Benefit Bank and being coach-certified. You definitely need to have that knowledge before you come in to us.

(Describer) Title: What experience would be the most beneficial to me?

Important for a financial coach to know community resources, how to connect people, and what those resource requirements are. So maybe an internship with United Way, with 2-1-1. Shadowing a financial coach would be a good start. I've had many people shadow me and you don't really understand this program until you actually do that.

(Describer) Title: Is this a growing career?

It's definitely a growing career. Everybody has some type of finances, from paying your light bill to paying your student loan bills when you're done with college. I see a lot of need in other communities-- I think Toledo being the hub of it in Ohio. The main piece is having the financial opportunity centers in each community to give people the tools to reach stability. They need those tools. Each community needs this program to do that. You empower people for their futures. You give them a way to manage their income and budget. You're empowering people to do well in life. I see the importance to these people. That's why I'm here and love it.

[whistle blows]

(Describer) In the gym...

Huddle up, team. Your financial future belongs to you, so own it.

(Describer) She throws the ball behind her back and it goes through the basket.

Funding to purchase and make this educational production

(Describer) Titles: For more information, visit OhioMeansJobs.com. WGTE Public Media. Copyright 2014. Funding to purchase and make this educational program accessible was provided by the U.S. Department of Education. Contact the Department of Education by telephone at 1-800-USA-LEARN, or online at www.ed.gov.

accessible was provided by the U.S. Department of Education:

PH: 1-800-USA-LEARN (V) or WEB: www.ed.gov.

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A financial coach gives tips on budgeting and discusses her career helping clients at a community center. She helps her clients set and achieve their financial goals. She also discusses the skills and training that are needed in her line of work. Part of the "Career Connections" series.

Media Details

Runtime: 6 minutes

Career Connections
Episode 1
5 minutes
Grade Level: 7 - 12
Career Connections
Episode 2
6 minutes
Grade Level: 7 - 12
Career Connections
Episode 3
3 minutes
Grade Level: 7 - 12
Career Connections
Episode 4
5 minutes
Grade Level: 7 - 12
Career Connections
Episode 5
5 minutes
Grade Level: 7 - 12
Career Connections
Episode 6
4 minutes
Grade Level: 7 - 12
Career Connections
Episode 7
7 minutes
Grade Level: 7 - 12
Career Connections
Episode 8
7 minutes
Grade Level: 7 - 12
Career Connections
Episode 9
6 minutes
Grade Level: 7 - 12
Career Connections
Episode 10
6 minutes
Grade Level: 7 - 12