With the current economic and political climate, some of us are having a harder time than others. For those of us who are not well-versed in finances and some of the newest confusing terminology brought by the newer generation, there is help. A financial coach might be a good option, more than telling us what to do with our money and making pretty charts, they help us navigate through our specific problems and concerns, through deep conversations they can help find the root of our worries and find optimal solutions to help manage our money. Today we interview a financial coach, Salvador Haro, or who also simply goes by “300”. 

JD: Mr.300 tell us more about who you are. 

300: Hello Jonathan, and thank you. So I am a financial/life coach. I am 32 years old, I am a proud father of two girls. I do not have many hobbies, other than work. I was born in Mexico and raised in Los Angeles, all my life. I consider myself a conservative novice political enthusiast, as well as a day trader.

JD: How did you get into financial coaching? 

300: Aside from any academic subject I have learned, I like helping people with the knowledge I've gained through life experience. I studied marketing, statistics, finance and economics, but I’ve had my fair share of life experiences, negative ones that I overcame strategically and positive ones I’ve achieved. This is where I’ve had numerous people ask me for advice, on what I’ve been through that’s similar to their situations over what I’ve learned through books. When I first got into finance, the original idea was to become a Portfolio Manager, and as I got deeper into the subject, my ideas started taking shape. I had been working hard trying to become a financial advisor, and all that kind of changed when I started watching more videos related to coaching, it helped me really understand who I wanted to work with, people for whom a few extra dollars saved can mean a big impact in their daily life’s. 

JD: Financial coach vs Financial advisor? 

300: Yup, so I get this question all the time, I have my own explanation of it. I base it on the type of clients I work with. Basically, the idea is that we don't choose either/or, instead I draw a mental image of a progress ladder. There is financial coaches, financial advisors, wealth manager and financial counselors. We start with a coach who can help you sort through your budgeting, debts and just getting a grip on your situation, if I am successful, then you might have a better financial situation and hopefully money to grow, at which point you go to financial advisor if you wish to start investing, after, god willing, you made enough money to have a wealth manager manage your generational wealth. As far as the financial counselor, that might be a substitute for a coach, or come right before a coach, in the event that your financial situation needs urgent intervention. 

JD: Can someone with a small income manage/budget it into a significant amount? 

300: Well heres the thing, everyones situation is very different, but if you come to me with this problem, I want to know why you make the amount you make, is it a physical/medical impediment? if it is, then are you receiving the correct assistance? trust me I know people who are too proud to ask the government for assistance. Is it lack of skill? we can then determine if a short course would be a good investment of time and money, to add value to yourself. Maybe you have a skill that you can monetize but the issue is time management, we can work on that. A small income to me signifies a problem because of the amount of opportunities and hours in a day for someone to really push past the poverty line. 

JD: Why is now a good time for people to hire a financial coach? 

300: Look at the news, look at the gas, look at everything. Some people struggled during the good times and now in this economy, they are really being choked. As a coach my goal is to help someone build a pattern, a new pattern, with new ideas and tools that they didn't have. Its funny but as a coach, my goal is that you are no longer my client. I want you to use what I provide to move on to the next level, to get out of the current situation, but also to go past that, move to a financial advisor, move past that to a wealth manager. To get there I think a financial coach is the perfect investment now, times don't seem to be getting better in this economy, but with the right help you can better your situation.

JD: What should we be investing in?

300: So a financial coach should not be giving investing advice, also if you came to a coach that means you might be gambling what little you do have at the moment if you get into stocks. Buying meme stocks and cryptos are all popular now, however, I highly recommend getting a grip of your situation. That includes setting up a safety-net, I like a diversified safety-net, the number varies from person to person. Once we come up with your number and the number of months or years you want covered in the event of unemployment or some big expense, to maintain your lifestyle, then we can began to see diversification options such as bank accounts, ETF's, mutual funds, cash etc. These are safer places to keep safety-nets and emergency funds. 

JD: If we just made a good amount of money in a meme stock, whats the next move? 

300: Again, it depends, its different for everyone. If you were just lucky or had someone tell you when to get in and out, maybe the best thing is to do nothing, get a coach, don't upgrade your lifestyle. Management is key here, see its the lottery winner effect, you can end up worse than you were before the money. If managed correctly, you can use that money as a stepping stone, to relieve stress from depending on your income, maybe relieve the debt stress. 

JD: How much is a coach?

300: Coaches come in all sizes, the national average is about $100-$250 per hour session. Some have half-hour sessions and some are cheaper, also, depends on your situation, that will determine how many sessions you will need, but always request a free consultation call, I like to offer at least 15 minutes free, just to find out if their situation fits my specialty. I wouldn't take on a client who I know wont benefit from what I specialize in.  

JD: Well thank you that has been very informative, now how can someone get in contact with you? 

300: Thank you for the opportunity, and well, while I do not operate my own website, readers can find me on Twitter as @300consults , I am trying to be active on there as much as possible.