Daily Money Management (DMM) & Financial Coaching
Be in control of your finances
HOW A DMM OR A FINANCIAL COACH REDUCES YOUR MONEY STRESS
WHO WILL BENEFIT FROM THOSE SERVICES?
Do you want to use the time for nicer things in your life than caring your money and the related paperwork?
Have you tried budgeting and achieving savings targets, but you continuously fail to implement them?
Do your work life, your children, and free-time activities keep you too busy, so you never think about how much money you have and whether you could save something for future goals?
Do you need support in overseeing the finances of your aging parents?
Do you think you are not good at handling your money since you have never learned it?
Are you new to the situation of managing your money, for example after a divorce or the death of the spouse/partner?
If the answer is yes, my services can help you! A Daily Money Manager can take many tasks out of your responsibility, so you can better enjoy your life AND have your finances under control. A Financial Coach acts as a consultant and companion helping you to identify and achieve your financial goals.
You can choose from a variety of services:
Coordinating bill payments: ensure timely bill payments, set-up automatic payments (e.g. for utilities), prepare checks for signature
Keeping your records and provide you regular reports so you keep the overview on you finances
Taking care of your household payroll
Implementing spending control: use a prepaid card with spending restrictions on the allowance
Balancing checkbooks and reviewing bank statements: check for unauthorized charges and potential savings (e.g. insurances, subscriptions, paperless billing)
Organizing and creating filing systems for all relevant financial information and documents: this provides input for CPAs, tax preparers, and Power of Attorneys
Sorting mail and controlling junk mail: handle bills and other mailed requests in time and destroy unsolicited offers
Setting-up and maintaining a budget: either electronically (e.g. Quicken) or on paper
Tracking all income and spending: either electronically (e.g. Quicken) or on paper
Preventing fraud: review credit report and monitoring accounts for suspicious activities
In case you need assistance with managing your daily life (e.g. calendar, mail, special projects), check our offering of Personal Assistant services.
Note: I cannot replace your financial or investment advisors, accountants, or attorneys, but as Daily Money Manager I will work together with your existing financial team.
As a member of AADMM (American Association of Daily Money Managers), I have a clean background check and follow the association's Code of Ethics and Standards of Practice.
More information about Daily Money Managers in general:
HOW DOES IT WORK?
During a first complimentary meeting (approx. 30 minutes) we will get to know each other and I will get a detailed understanding of your situation and needs. I will explain how I could work with you and which services will help to improve your situation. If we decide to work together, we will sign the service contract and will be ready for the start.
Depending on your situation we will have weekly, bi-weekly, or monthly meetings. Meetings will be either in person or by phone or video call. Between those sessions, we will communicate by email, and I will do tasks remotely to support you. Note that during the first phase of our cooperation, we will have sessions more often to set-up everything.
HOW MUCH DOES IT COST?
The answer is: it depends. It depends on the range of services you need, on the complexity of your finances, and on the interval of visits you request.
Services are billed by the hour. The table below gives you an idea of the costs, showing different scenarios. For getting a personalized estimate for your situation, schedule a free session "Start with Daily Money Management Services"
Note: The costs during the first 3 months are considerably higher, due to the work needed to set-up the system, get the processes defined, and work off potential backlogs of tasks.
WHAT IS THE DIFFERENCE BETWEEN DAILY MONEY MANAGEMENT SERVICES AND PERSONAL FINANCIAL COACHING?
Both services focus on personal finances (analysis, budgets, spending control, planning, etc.) BUT
• A Daily Money Manager focuses on the execution of the tasks, by either doing the them for you or together with you.
• A Personal Finance Coach is analyzing your situation and giving directions on how to do the tasks by yourself.
In some situations, it is beneficial to get both services at the same time:
If you want to start paying back your debts without any delay and need strong control of your spending, a combination of Daily Money Management services and Personal Finance Coaching is the most powerful combination. It allows a quick start, combined with education, and followed by a transition into self-management, at a pace fitting to your individual situation.
In case you are completely new to personal finances, you might want to learn by watching a Daily Money Manager handling the tasks as a first step. Once you are ready to take-over, the focus can shift to the Financial Coaching.
I put much of effort into finding the right services and a method which is fitting to the working style and the personality of my client, as this is crucial for the success. There is simply no "one size fits all" solution. If you start following a methodology that is not suitable for you, you will fail!
SDS Smart Daily Services has the knowledge for offering Daily Money Management Services and Personal Financial Coaching so we can find a tailored solution for you!
YOU CAN BECOME SMART WITH YOUR MONEY!
start planning your financial goals
save money and reduce debt
get rid of "money stress"