I am soooooooooooooooooooooooooooooo glad that I cam across this video! I was just about to purchase the Ramsey FCMT. Thank you for your professional advice. I especially appreciated the way you objectively explained the difference between FCMT and FCA and your why. It was extremely helpful! I have been a financial counselor for a few years, working in a local government capacity, but the limitations have propelled me in the direction of starting my own business. I looked at several of the FCA videos and I am highly impressed with their business and coach facing tools. I CANNOT THANK YOU ENOUGH!!!
My passion for personal finance started when we used the Dave Ramsey principles to get out of debt but his name and methods can be a turn off for so many clients that don't necessarily follow him or just dont want to follow him (even if it could really help them!) . I agree the FCMT is okay if you know that your client base will likely need to be Ramsey followers or in dire situations. I also found it to be expensive for the credentialing you get. I went the AFCPE/AFC route and immediately landed a job working as a financial counselor (which I didn't "need" but financial freedom has allowed me to do what I love) and also have my own source of earning income from it on the side. I follow the Ramsey principles personally... but i know its not for everyone & enjoy being able to counsel and coach outside of that.
Love Love Love that you are free to pursue work you love. This is (to me) what the new American Dream should be. Separately, how hard was it to get your AFC? I toy with the idea of getting this credential about once every 3 months. Would you recommend it to somebody else in the personal finance space?
Thank you for this video. I found Dave Ramsey a few years ago and his program helped me get into a better financial space. (It was a disaster) I have felt called for the last couple years to pursue becoming a financial coach and recently finished the FCMT. Many of your points rang true for me. I have been struggling with how to bring Ramsey (very conservative) to my target client who is more liberal typically. I decided to not utilize all of the perks that came with FCMT, like the website building and association through the Ramsey site. I am still in the beginning stages of starting my coaching business and I am excited to see what FCA has to offer, as I am looking for some mentorship and community on this journey.
No but sort of, haha. I have not been through FCA, but I have used all of their free resources, used the Financial Coach Playbook, attended their virtual symposium, purchased the Financial Coach Toolkit, and was in the FCA mastermind for over year. I probably would have paid for FCA too, but Kelsa offered to have a 1:1 conversation with me to talk about the best fit for my business. By the time I found FCA I had already been in business for over a year and had a lot of systems in place. She actually suggested that I skip FCA and go straight to the Toolkit and Mastermind. Which is pretty awesome. She could have got me for all of it, but didn't sell me what I didn't need!
I thought that you comparison was great. A couple of questions. 1) How much does it cost to complete FCA vs. FCMT? Please include recurring or other expenses after the initial training. 2) You mentioned that Dave's market and yours are different. Does FCA teach to both markets? 3) How long is the program? 4) You mentioned either in this video or another video I watched, that there were monthly fees with Dave's program and you also received leads. Were the fees for the leads? Does FCA provide leads? How easy would it be to get clients without leads and without the paper certification?
Hi Adam, Sorry for the slow reply. I planned to circle back and answer your questions with detail, but had some shiny object syndrome going on. Here are some thoughts I have: 1. I just looked it up. FCMT is at $1,995, and FCA had a recent price increase and is now at $2,997. These prices are for Oct. 13, 2022. 2. FCA teaches you how to identify who your ideal market is and how to talk to them specifically. It's also pretty clear that just because you have an ideal market doesn't mean you can't help people outside of it. So for example, my ideal market today is small business owners, however I still have several clients who work in corporate environments. 3. The program is self paced. You decide. 4. The monthly fees for Ramsey are part of becoming a Ramsey Preferred Coach - I never signed up for this, therefore I never received those leads. However there are a lot of coaches who do. I am not aware of FCA offering any type of lead generation service - they will cover marketing with you though. 5. Lead generation is the toughest nut to crack for me. When you figure it out, it can be smooth sailing. That hasn't been the case for me. I'm learning more about it now, but it's a real challenge. I think the certification is less important although it gave me the confidence tot get started and may help other new coaches believe in their own credibility.
@@PictureItPF You’re the most sincere TH-camr when answering people’s questions, and I appreciate the reply that I learned a lot even it’s not to addressed to my questions.
Perfect timing for this video for me, as a co-worker and I have thought about taking the FCMT. We are also checking into the FCA. In your opinion, do you think a certificate is beneficial to become a financial coach? I took "Financial Peace" over 25 years ago and it changed my life as I hit rock bottom. Ever since then, my life made a complete turn around and have actually helped a few people out with their finances through my experiences.
Hi John - It's wonderful you got your finances turned around! I love a rebound story. I chatted with a prospective coach just this week and she asked the same question - do I need or does it benefit me to get a Financial Coaching certification. And the answers are you do NOT need one, and IT DEPENDS if it will benefit you. For me, I am so grateful that I went through FCMT because I needed the boost of confidence that certification gave me. It helped me feel authentic and justified in telling people "I am a Financial Coach" even more than the coaching I did for friends and family. That said, if I could do it again, I would go for the FCA program because it bothered me that I lost access to the FCMT program after one year. I could have regained access if I signed up for the Ramsey Preferred Coach program, but I didn't want to be a part of that. FCA is great because it gives you lifetime access and walks you through a lot of the tools needed to streamline your business. Lastly, who you serve may want to see a certification. For example some churches, corporations, or other referral groups may expect to see a certification as evidence that you are credible coach. Hope this helps!
Thanks for the info here. I just recently had a guy ask me to coach some people for him. Im trying to learn all I can. My niche is very specific and unique. I spent 11 years in prison, so he wants me to talk to recovery addicts that are going through court ordered rehab programs. Im trying to make certain that I can do the best I can for these people to help them learn some new tools to turn their lives around.
Honestly, what a commendable niche. If you have time, you may want to check out Dr. Benjamin Hardy’s TH-cam channel too. Not at all related to financial coaching but a great place to find inspiration to create a better future for yourself.
Thank you for sharing your thoughts. I taught FPU for many years. I definitely appreciate it being the beginning point of my journey but agree with his main viewers being in a distressed financial state and I wanted to help people thrive not just survive.
I don’t see a problem with the course , I do however see a problem with the type of clients you want to serve. The program was made to help you help those in in debt and lets be honest most in debt will be lower income people they wont pay $300 for a hour of session but being able to see that you helped someone see the sun in the darkest day , its the best pay off for me. If a business person is stressed and don’t know what to do in terms of money and its not interested in any of the products you was teached then the problem is the client who is looking for something else that you don’t have to offer. If they not interested in what you have to offer give them love and send them on their way. You don’t lose anything.
You’re mistaken if you think high income earners aren’t in debt. I agree with you tho that there’s no problem with the course. But there’s also no problem with who I serve or how I serve them. And you’re also right that helping folks find hope is the most rewarding part of what coaches do.
I know the feeling - I cam across FCA after FCMT and wished I could have a do-over. It's ok though! Start where you are, use what you have, do what you can.
Your business is yours, you can do it how you please! Now if you sign up for the Ramsey Preferred Coaching Program you are committing to coaching the leads they send you according to their methods. I hope that makes sense.
Thank you for this! It's over a year since you posted this, fo you still feel the same about everything? I came across your name while researching DR course. On a side note, the integram link doesn't;t seem to be working. Thanks again!
Hi Gene, I'm still in agreement with my prior opinion, but I've learned a few things. Firstly, it sounds like Ramsey Solutions has expanded the support you get when you stay in the referral program (although I can't clarify how). Secondly, I realize now that the pricing for their referral program aligns with their original referral pricing. In addition that pricing aligns with many many other memberships I've looked at. So while that price used to seem insane to me, it definitely doesn't any more. That said, I'm still a proponent of the the Financial Coach Academy. I love their lifetime access, their Facebook communities and that they seem to just dump value on you haha. They truly embody a "give more than you get" mentality. Thanks for reminding me on the instagram handle - I need to update that! I got tired of two pages so I combined into my personal handle @Christina_edel. I've taken a social media break while I make a shift in my business, but I'm happy to connect.
@@PictureItPF Thanks so much for getting back to me! I had just attended a DR free seminar and the subject intrigues me. I have no background in finance, but I am dept free and did so by following the baby steps. To be clear, I was never in a real financial bind. I was always taught to live within my means (thank you mom and dad!) In fact I just retired and was considering this as a way to help people in need firstly and earn some income as well.Then I came across your name in a reddit article. The cost for Financial Coach Academy $2,997. The DR reduced probation is around $1,100, so I'm still considering both. I guess I need to think long term as far as my investment goes. I'm assuming even given the price difference you would go with Financial Coach Academy for all the reason you mentioned. Thank you again!
@@genecampanelli7456 Yes, I would. When I spoke earlier, I was talking about the ongoing referral program. Sorry for the confusion. That's a great price for FCMT, but to be candid the best way to decide is by the type of client you want to help. FCMT felt very much like FPU on steroids, plus more detailed information on how to coach clients through collections, foreclosure, short sale, and more information about bankruptcy. I thought this was great, but it's simply not applied to the vast majority of my clients. FCA will teach you more about how to design your own program, target ideal clients, and then how to set up basic business processes around that.
@@PictureItPF Once again, thank you so much for your thoughtful responses. I'm not sure what my typical client will look like, I see a lot of suffering around me when it comes to money. Examples are friends of ours who went into tremendous dept to send their kids to schools and are making less income now do to job losses. Now theyve taken a second mortgage, it seems hopless. Or the couple that aren't on the same page when it comes to spending and are in deep debt. Or people in their 30s who aren't in a significant amount of dept but see no way that they could ever afford a house or family on the income they make (and they actually make a decent living as far as I'm concerned). These are the types of people I want to help.
@@genecampanelli7456 You should contact the FCA folks. They have a free 15 minute Q&A session where you can ask them for guidance. Also try out their free Facebook group. Do a search for FCMT - you'll see a pretty big number of folks who took both courses. Started with FCMT and them moved to FCA. I have a referral link (so if you do go that route, would love for you to use my link), but even if you don't I would seriously encourage all their free resources. I've sent a lot of folks to them and nearly all have thanked me for it. This is the link to their Facebook Group: facebook.com/groups/1998009207149990
I like the baby steps approach, but I do not follow the Dave Ramsey advice, I've learnt for my personal finance being on governmetn assistance I have to be careful how I invest and how I rebuild my credit so that I cann rent a nicer place or buy a place in Canada.
Biggest Benefit I got from FCMT: 5:04
Exercise for Coaches: 5:50
Do I regret FCMT? 7:46
Financial Coach Academy: 9:40
I am soooooooooooooooooooooooooooooo glad that I cam across this video! I was just about to purchase the Ramsey FCMT. Thank you for your professional advice. I especially appreciated the way you objectively explained the difference between FCMT and FCA and your why. It was extremely helpful! I have been a financial counselor for a few years, working in a local government capacity, but the limitations have propelled me in the direction of starting my own business. I looked at several of the FCA videos and I am highly impressed with their business and coach facing tools. I CANNOT THANK YOU ENOUGH!!!
I'm so glad that this video helped you! I love hearing stories of people breaking out on their own. Best of luck to you in all things.
Me too! I had plans to call tomorrow and get started. This opened me up to new possibilities. Thanks!
My passion for personal finance started when we used the Dave Ramsey principles to get out of debt but his name and methods can be a turn off for so many clients that don't necessarily follow him or just dont want to follow him (even if it could really help them!) . I agree the FCMT is okay if you know that your client base will likely need to be Ramsey followers or in dire situations.
I also found it to be expensive for the credentialing you get. I went the AFCPE/AFC route and immediately landed a job working as a financial counselor (which I didn't "need" but financial freedom has allowed me to do what I love) and also have my own source of earning income from it on the side. I follow the Ramsey principles personally... but i know its not for everyone & enjoy being able to counsel and coach outside of that.
Love Love Love that you are free to pursue work you love. This is (to me) what the new American Dream should be. Separately, how hard was it to get your AFC? I toy with the idea of getting this credential about once every 3 months. Would you recommend it to somebody else in the personal finance space?
Thank you for this video. I found Dave Ramsey a few years ago and his program helped me get into a better financial space. (It was a disaster) I have felt called for the last couple years to pursue becoming a financial coach and recently finished the FCMT. Many of your points rang true for me. I have been struggling with how to bring Ramsey (very conservative) to my target client who is more liberal typically. I decided to not utilize all of the perks that came with FCMT, like the website building and association through the Ramsey site. I am still in the beginning stages of starting my coaching business and I am excited to see what FCA has to offer, as I am looking for some mentorship and community on this journey.
FCA is a great community. You’ll find a lot of value there. Thanks for watching and commenting!
OMG I am so sorry. My previous comment I had posted it mid video and didn't know you already answered my first question about the FCA program, lol.
No worries! Thanks for watching to the end.
Thank you so much! This is exactly what I need.
Very glad it was helpful to you!
Have you taken the Financial Coaching Academy program?
No but sort of, haha. I have not been through FCA, but I have used all of their free resources, used the Financial Coach Playbook, attended their virtual symposium, purchased the Financial Coach Toolkit, and was in the FCA mastermind for over year. I probably would have paid for FCA too, but Kelsa offered to have a 1:1 conversation with me to talk about the best fit for my business. By the time I found FCA I had already been in business for over a year and had a lot of systems in place. She actually suggested that I skip FCA and go straight to the Toolkit and Mastermind. Which is pretty awesome. She could have got me for all of it, but didn't sell me what I didn't need!
Thank you so much! This was sooooo helpful! God bless you! ❤
@@elizabethrankin-horvath3382 so glad you got value from this!
There is also Financial Coaching Peer Community I found them to be a good community as well, Have you heard of them ??
No, but I will look for them today. Thanks for the tip!
I thought that you comparison was great. A couple of questions. 1) How much does it cost to complete FCA vs. FCMT? Please include recurring or other expenses after the initial training. 2) You mentioned that Dave's market and yours are different. Does FCA teach to both markets? 3) How long is the program? 4) You mentioned either in this video or another video I watched, that there were monthly fees with Dave's program and you also received leads. Were the fees for the leads? Does FCA provide leads? How easy would it be to get clients without leads and without the paper certification?
Hi Adam, Sorry for the slow reply. I planned to circle back and answer your questions with detail, but had some shiny object syndrome going on. Here are some thoughts I have:
1. I just looked it up. FCMT is at $1,995, and FCA had a recent price increase and is now at $2,997. These prices are for Oct. 13, 2022.
2. FCA teaches you how to identify who your ideal market is and how to talk to them specifically. It's also pretty clear that just because you have an ideal market doesn't mean you can't help people outside of it. So for example, my ideal market today is small business owners, however I still have several clients who work in corporate environments.
3. The program is self paced. You decide.
4. The monthly fees for Ramsey are part of becoming a Ramsey Preferred Coach - I never signed up for this, therefore I never received those leads. However there are a lot of coaches who do. I am not aware of FCA offering any type of lead generation service - they will cover marketing with you though.
5. Lead generation is the toughest nut to crack for me. When you figure it out, it can be smooth sailing. That hasn't been the case for me. I'm learning more about it now, but it's a real challenge. I think the certification is less important although it gave me the confidence tot get started and may help other new coaches believe in their own credibility.
@@PictureItPF You’re the most sincere TH-camr when answering people’s questions, and I appreciate the reply that I learned a lot even it’s not to addressed to my questions.
@@pqtaxmom Thank you! And thanks for commenting on my videos. I really appreciate the engagement.
Perfect timing for this video for me, as a co-worker and I have thought about taking the FCMT. We are also checking into the FCA. In your opinion, do you think a certificate is beneficial to become a financial coach? I took "Financial Peace" over 25 years ago and it changed my life as I hit rock bottom. Ever since then, my life made a complete turn around and have actually helped a few people out with their finances through my experiences.
Hi John - It's wonderful you got your finances turned around! I love a rebound story. I chatted with a prospective coach just this week and she asked the same question - do I need or does it benefit me to get a Financial Coaching certification. And the answers are you do NOT need one, and IT DEPENDS if it will benefit you.
For me, I am so grateful that I went through FCMT because I needed the boost of confidence that certification gave me. It helped me feel authentic and justified in telling people "I am a Financial Coach" even more than the coaching I did for friends and family.
That said, if I could do it again, I would go for the FCA program because it bothered me that I lost access to the FCMT program after one year. I could have regained access if I signed up for the Ramsey Preferred Coach program, but I didn't want to be a part of that. FCA is great because it gives you lifetime access and walks you through a lot of the tools needed to streamline your business.
Lastly, who you serve may want to see a certification. For example some churches, corporations, or other referral groups may expect to see a certification as evidence that you are credible coach. Hope this helps!
Thanks for the info here. I just recently had a guy ask me to coach some people for him. Im trying to learn all I can. My niche is very specific and unique. I spent 11 years in prison, so he wants me to talk to recovery addicts that are going through court ordered rehab programs. Im trying to make certain that I can do the best I can for these people to help them learn some new tools to turn their lives around.
Honestly, what a commendable niche. If you have time, you may want to check out Dr. Benjamin Hardy’s TH-cam channel too. Not at all related to financial coaching but a great place to find inspiration to create a better future for yourself.
@@PictureItPF Thank you. I will check out Dr. Benjamin Hardy's channel
Sorry I haven't been on youtube in awhile. Great video.
Hope you're doing well!
Thank you for sharing your thoughts. I taught FPU for many years. I definitely appreciate it being the beginning point of my journey but agree with his main viewers being in a distressed financial state and I wanted to help people thrive not just survive.
Glad you appreciated the video. Also, I LOVE your channel name!
@@PictureItPF thank you
I don’t see a problem with the course , I do however see a problem with the type of clients you want to serve. The program was made to help you help those in in debt and lets be honest most in debt will be lower income people they wont pay $300 for a hour of session but being able to see that you helped someone see the sun in the darkest day , its the best pay off for me. If a business person is stressed and don’t know what to do in terms of money and its not interested in any of the products you was teached then the problem is the client who is looking for something else that you don’t have to offer. If they not interested in what you have to offer give them love and send them on their way. You don’t lose anything.
You’re mistaken if you think high income earners aren’t in debt. I agree with you tho that there’s no problem with the course. But there’s also no problem with who I serve or how I serve them. And you’re also right that helping folks find hope is the most rewarding part of what coaches do.
Came across your video AFTER completing the FCMT course. 🤦🏽♀️
I know the feeling - I cam across FCA after FCMT and wished I could have a do-over. It's ok though! Start where you are, use what you have, do what you can.
I have the exact journey and thoughts about FCMT. Ive decided to take FCA.
Love it!
You look a lot like Supreme Court Justice Amy Coney Barrett.
Now that you’ve said it, I can see the resemblance. Kinda fun when you see a doppelgänger or someone close.
Can you offer both fcmt and a more traditional money mindset when coaching? Does Ramsey Solutions allow you to work with other methods?
Your business is yours, you can do it how you please! Now if you sign up for the Ramsey Preferred Coaching Program you are committing to coaching the leads they send you according to their methods. I hope that makes sense.
@@PictureItPF yes! Thant makes perfect sense
Thank you for this! It's over a year since you posted this, fo you still feel the same about everything? I came across your name while researching DR course. On a side note, the integram link doesn't;t seem to be working. Thanks again!
Hi Gene, I'm still in agreement with my prior opinion, but I've learned a few things. Firstly, it sounds like Ramsey Solutions has expanded the support you get when you stay in the referral program (although I can't clarify how). Secondly, I realize now that the pricing for their referral program aligns with their original referral pricing. In addition that pricing aligns with many many other memberships I've looked at. So while that price used to seem insane to me, it definitely doesn't any more.
That said, I'm still a proponent of the the Financial Coach Academy. I love their lifetime access, their Facebook communities and that they seem to just dump value on you haha. They truly embody a "give more than you get" mentality.
Thanks for reminding me on the instagram handle - I need to update that! I got tired of two pages so I combined into my personal handle @Christina_edel. I've taken a social media break while I make a shift in my business, but I'm happy to connect.
@@PictureItPF Thanks so much for getting back to me! I had just attended a DR free seminar and the subject intrigues me. I have no background in finance, but I am dept free and did so by following the baby steps. To be clear, I was never in a real financial bind. I was always taught to live within my means (thank you mom and dad!) In fact I just retired and was considering this as a way to help people in need firstly and earn some income as well.Then I came across your name in a reddit article. The cost for Financial Coach Academy $2,997. The DR reduced probation is around $1,100, so I'm still considering both. I guess I need to think long term as far as my investment goes. I'm assuming even given the price difference you would go with Financial Coach Academy for all the reason you mentioned. Thank you again!
@@genecampanelli7456 Yes, I would. When I spoke earlier, I was talking about the ongoing referral program. Sorry for the confusion. That's a great price for FCMT, but to be candid the best way to decide is by the type of client you want to help. FCMT felt very much like FPU on steroids, plus more detailed information on how to coach clients through collections, foreclosure, short sale, and more information about bankruptcy. I thought this was great, but it's simply not applied to the vast majority of my clients. FCA will teach you more about how to design your own program, target ideal clients, and then how to set up basic business processes around that.
@@PictureItPF Once again, thank you so much for your thoughtful responses. I'm not sure what my typical client will look like, I see a lot of suffering around me when it comes to money. Examples are friends of ours who went into tremendous dept to send their kids to schools and are making less income now do to job losses. Now theyve taken a second mortgage, it seems hopless. Or the couple that aren't on the same page when it comes to spending and are in deep debt. Or people in their 30s who aren't in a significant amount of dept but see no way that they could ever afford a house or family on the income they make (and they actually make a decent living as far as I'm concerned). These are the types of people I want to help.
@@genecampanelli7456 You should contact the FCA folks. They have a free 15 minute Q&A session where you can ask them for guidance. Also try out their free Facebook group. Do a search for FCMT - you'll see a pretty big number of folks who took both courses. Started with FCMT and them moved to FCA. I have a referral link (so if you do go that route, would love for you to use my link), but even if you don't I would seriously encourage all their free resources. I've sent a lot of folks to them and nearly all have thanked me for it. This is the link to their Facebook Group: facebook.com/groups/1998009207149990
I like the baby steps approach, but I do not follow the Dave Ramsey advice, I've learnt for my personal finance being on governmetn assistance I have to be careful how I invest and how I rebuild my credit so that I cann rent a nicer place or buy a place in Canada.
Exactly right! Credit is important and there is no one size fits all solution. Use DR for inspiration, but also find the path that’s best for you.