#33: What to do when a client asks to take out a loan for home renovations?
Episode 33: What to do when a client asks to take out a loan for home renovations?
Today, Josh and Garrett discuss financial coaches’ often dogmatic approach to clients’ ideas about taking debt on for things like home renovations.
Key takeaways:
- We have to be careful about this conversation because it’s not really about the numbers, it’s about people’s lives.
- You WILL have an emotional reaction, whether positive or negative, so recognize that you’re having that reaction and notice how it could impact your coaching.
- Your client WILL have an emotional reaction to what you say, so be aware of that going in!
- Saying, “That’s interesting, tell me more.” is a GREAT way to gain more information and more time to process.
- Think about the numbers, of course, but also take into consideration things like impact on quality of life and timelines etc.
Resources mentioned in this episode:
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