CFEE Guidebook

17 BUILDING FINANCIAL CAPABILITY THROUGH FINANCIAL COACHING  Scheduling Appointments Having an online calendar accessible to all of the coaches is very useful, and is an essential part of keeping track of a large number of appointments on a weekly basis. We used a Google calendar because it was easy to access for coaches and staff, and also allowed us to input additional information about the student appointment. When making each appointment, we entered the student’s phone number and email contact in the calendar time slot, so that coaches had access to the information in order to facilitate changes or rescheduling.  Length of Coaching Sessions When starting the coaching program, we sched- uled one-hour sessions for all students. Howev- er, we quickly learned that it resulted in a lot of down time for coaches if students did not show up for an appointment. The second year of the program we scheduled 30-minute sessions and found that it worked fairly well. The exception was the initial meeting, which usually required an hour to go through the intake information. Though 30 minutes were not always sufficient to cover all of the discussion points, it did force the coach to be as efficient as possible. Shorter sessions then allowed us to see twice as many people in one day. We also found that a 30-min- ute appointment did not seem as cumbersome for the student as a full one-hour session.  Dealing with Cancellations It is a challenge to motivate students to show up on time for an appointment, or to cancel in advance if they cannot make it. Many students are balancing school, work, and family, so it is not uncommon for other things to get in the way of a coaching session. We ask students to let the coach know 24 hours in advance if they cannot keep an appointment. The coach will make a point of reviewing this guideline during the first meeting and will also give the student a written reminder in the packet of introductory information. We also post signs in the coaching office, requesting that students let us know in advance if they need to cancel. As an additional step, the coaches call or text students the day before each scheduled meeting.  Intake and Assessment At the initial meeting with a participant, we used a Financial Coaching Assessment Form (see appendix 2) to gather basic information about the student and create a financial picture. This intake form includes personal information to help the coach get to know the student, as well as details about the student’s financial profile. The type of information on the form includes:  ` BACKGROUND INFORMATION: basic details such as contact information (address, email, phone, etc.); date of birth; intended major; expect- ed graduation; and career aspirations; and  ` FINANCIAL PROFILE: employment status; sources of income; banking accounts (checking and savings); credit cards; debt obligations including credit card debt, student loans, auto loans, and other obligations; savings in the bank; and monthly expenses.  Structuring Coaching Sessions The goals for each participant are determined in line with their individual economic circum- stances and their future career goals. Over the course of one or two semesters, students might meet with a coach anywhere from two to ten times, depending upon their academic and work schedules and the type of goals they have.