Money Coach & Author | Candice-Bakx-Friesen
Updated: Apr 19, 2022
As a money coach, Candice embraces the conversations you need to have around money. If you are looking to get a head start on your finances or find a way to make your financial dreams come true, Candice is the one to call. She 'looks past the fluff' to help you achieve your financial goals. In today’s episode, Candice also talks about a good starting point to begin your journey towards financial freedom, and what it looks like to work with her.
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Candice is a country girl living in Manitoba, Canada. She has a family with four kids and lives just outside of Winnipeg.
Candice started her coaching journey very young. Her parents, grandparents, and everyone around her were entrepreneurs. As a kid, she looked around and wondered how she could do this too. Candice had an aunt who was an accountant, and she looked up to her a lot as she was very career-driven and very successful. Candice remembers deciding, "ok, that is what I am going to do. " However, life went a bit differently. Candace receive her bachelor's degree in commerce, met her husband, and became a realtor. As time passed people began to recognize that she was very good with money, and many would ask her questions and seek her advice.
Candice believes that if you listen to what people are saying to you, it can guide you to what you should focus on in life.
Thus a few years ago Candice started her money coach business and has never looked back.
Candice helps families and parents teach their kids about money so they can change the tide for their children. Candice also helps people who are struggling, or those who have come past that and want to start investing.
What is a Money Coach?
When Candice thinks back to when she was a teenager or a kid, she remembers when the banker was somebody who sat you down and said, "all right. You're getting your first loan for a car. You're 18 now, you better figure out this money thing. Let's talk about that." The banker was the one who helped people figure out their budget to pay back the loan. Obviously, it was in the banker's best interest so they weren't spending all their time collecting on these loans.
But nowadays it's just in and out. You may never see the banker. You're signing your loan agreement virtually, and you're not conversing with anyone. The opportunity for guidance is lost. Maybe you see an investment person, but that person is just trying to sell you things - or the insurance guy who's trying to sell you insurance.
Now the investment person is somebody you want on your team, and you want to see the insurance person too! But Candice is not selling anything. As a money coach, she is a neutral person that comes alongside and not only talks about your output and that "b" word that everybody hates, but also the psychology behind money.
It's no different than when you're trying to lose weight or get fit. The more you want to succeed in life, the more you need somebody by your side to hold you accountable.
Money Coaching for Couples
With couples, you have two different money ideas working together. Back in the day churches or pastors would do the premarital counseling and talk about the finances. People are no longer getting married in churches traditionally... so again, where's the conversation? These conversations just aren't happening anymore.
Candice helps couples before marriage to have those conversations. When you come together as a couple, it can be easy to assume this will all work out: you are in love, you're happy, it will be fine. But what happens with all the inevitable trials? The money challenges with people losing their job, death, sickness, and all the things that come up? Candice strives to prepare people for life, the good and the bad, through their finances.
Putting out Financial Fires
Usually, it takes getting in a hard place in life to have that wake-up call. It easily happens when you go through the motions and just do life - and then something catastrophic happens. You are forced to finally address your finances. That is when people tend to call Candice.
This can be triggered by many different things. Sickness, death, or divorce can thrust you to a place where you're on your own and you may wonder, "how do I do this?"
We first check and ask, where's the bleeding? You need to stop the bleeding first. Look at where the money is going out and where the money is coming in. What kind of adjustments need to be made?
Make a Financial Plan!
In order to get into a stable spot, you need to have goals and a plan. You could go anywhere with your money, and there's no right or wrong answer! Look at what you want in life, stop going through the motions, and get very clear on this!
Candice likes to share the story of a woman who said, "when we got married, we sort of planned out what we wanted to do in life." She said, "amazingly, we actually hit almost all of our targets of what we wanted to do!" Nothing was big or lavish, but they did travel a lot and sold everything when they retired, purchased a motorhome, and traveled even more.
That's not everybody's plan!
But the more ideas you have centered around your values and your purpose, it will be a lot easier to reach those financial goals.
Say you want to travel to Vancouver or to Florida - if you just hop in the car and go, you probably won't make it! You need a map, know how much it's going to cost, where you will stay, and where you want to stop for the night.
It's the same with money.
The more that you plan, the more success you will have.
How to Get Started
1. The first step is to start educating yourself.
There are a LOT of resources and books, so start with reading and taking in more knowledge. Candice often hears people say, "man, I wish my parents would have just taught me these things." But today is better than never. Just start getting some education and begin figuring out some of the pieces.
2. Second, gather all the information that you have.
When Candice sits down with people she will ask, "Okay, how much do you owe on the car?" But they will simply show their car payment. That's fine... but what's your overall balance? How much do you owe on that car loan?
A lot of people don't know those numbers.
So if nothing else, just get an awareness of where you are at. Instead of just looking at how much is left in your bank account at the end of the month, how much do you have by the end of the week? How much are you spending on fuel? How much are you spending on groceries? Just getting an awareness of the numbers is a start.
3. Next, find your trends.
Once you've figured out your general finances per month, you will also want to look at cash flow issues. What are those expenses that come up every once in a while?
For example, Candice's kids play hockey, so that's a big expense and a lot of money that goes out in September! (If you're a parent who has kids in any competitive sport, you're nodding your heading right now!) But you can also have property taxes and all the expenses around Christmas that come up.
It is normal to have different times throughout the year where you see bigger expenses go out. But if you are somebody with a salary and the money is regular, you will need to be prepared for those seasons.
So this becomes very important: figure out how to put some money aside to cover some of those more expensive times!
How to Work with Candice
Working with Candice depends on what people are looking for. She has a 4-week Budget Boot Camp where you can figure out the basics, and this is a great program!
She also has a 3-month program and individual coaching. Candice's packages can be as much as needed, for everyone's situation is unique. You can just do the 3 months and be good for a while, and plan to meet again when necessary.
What Candice is Learning Right Now?
Candice is still a realtor as well as doing the money coaching, and there are always aspects of business that are changing. So for Candice, she is constantly looking at where she's at with technologies or websites, and what she needs to change in terms of advertising through social media.
Candice is also creating a book! She is almost done. She is in the editing process right now, and it's to be ready for a book launch in early 2022. So she is in the middle of launching a book, and that whole process is a whole learning experience!
(Want to check out the book? It is out now! Click here to get a copy of "From No Worth to Self-Worth" )
Connect with Candice!
Visit Candice’s website at http://www.investorsmarts.ca/site/
Candice also has a podcast! You can listen at http://www.investorsmarts.ca/site/podcast/
You can find Candice on Facebook at https://www.facebook.com/investorsmarts/
Candice’s Instagram: https://www.instagram.com/investorsmarts/
Or connect on LinkedIn: https://www.linkedin.com/in/candice-bakx-friesen-68104031/
Candice is also on Twitter! https://twitter.com/CandiceatRLP
Connect with Dani:
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