Project: Coaching

Coaching as a formal one-on one relationship between a coach and a coachee, in which the two “collaborate to coachee, in which the two “collaborate to assess and understand the coachee and his or her development needs (Frankovelgia & Riddle, 2010). We held our first session on 21st August 2019 in one of the local hotels. I, being the coach, and the coachee was Kay Doss. We started a conversation where I asked her why she wanted to be coached so that I would formulate a way of helping her through. Doss stated she needed assistance in financial saving and planning. She said that since she started working, she has not had a good saving habit.

As the coach, I begin with coaching engagement and guide the process by providing realistic lifestyle goals by informing Doss that saving is not an automatic process, and one must be intentional and objective at it. She explained to me that she was a spontaneous buyer and compulsive shopper such that whenever she sees something good online, if she has the funds to buy then the transaction will be completed without considering the value of money management. I explained to her that before she gets any money, she must create a budget for it and any need that comes up before the next salary, it must wait not unless it is an emergency, for example, going to the hospital when sick.

From the conversation, I realized that most of the things that made her spending extravagantly related to beauty. I asked her about the things that take a big chunk of her money, and she said clothes, shoes, and accessories. I realized that these were things that she holds dear to her heart, and being a lady; she tried to justify her spontaneous buying. I realized with her the problem was not much about saving a change of attitude instead. I asked her why she needed to buy all those things now and then, and she said that she needed to look good and be at per with her colleagues. The primary thing Doss needs to understand is that as human beings, our directions are different, and so our priorities should be to eliminate outside negative financial influencers. By the end of the session, as tricky as it was her attitude had started changing. The coaching process is normally structured with the understanding that it will largely benefit the coachee (Zenger, J. H., & Stinnett, K. (2010) and Doss will great benefit from financial guidance.

The two objectives of this coaching process were to change the attitude towards saving and life in general, and the second was to create a sustainable culture of saving. The two objectives are critical to the coachee. First, the primary reason why people, especially women, don't have a saving habit is due to extravagant spending as they try to be like others. Therefore it is essential to change their mindset in the aspect of why they spend. Money should be allocated to buy things we need not make our lives like others. Secondly, saving must be made a culture so that it won't happen the first months after the coaching rather a long-term thing. Unless the coachee changes her attitude towards spending and develops a sustainable culture, the saving will be a wish.

The coachee hopes to have a saving habit. She wants to know how she can prioritize her needs so that she does not have to spend all her money and even left almost taking a loan before the next salary. Through the savings, Doss wants to develop a business through the additional funds and to create other streams of revenue.

Like a coach before the next session, I need to do research on best saving strategies. I also need to ask her to formulate a standard monthly budget which I will assess to see where she can spend less and get to save. It was almost end of the month, and we agreed that she has to keep some part of her August salary, which I will be looking forward to knowing if it happened in our next session.

References

Frankovelgia, C. C., & Riddle, D. D. (2010). Leadership coaching. In E. V. Van Velsor, C. D.