The idea of a person paying a consultant to help them save money is a strange one. Surely, you may conclude, the biggest way to save money would be to go without the consultant and figure out a way of thrifty living for yourself?
This may sound logical, but in truth, it’s tough. If you have managed to commit yourself to a frugal lifestyle and never buy anything without knowing that it’s a good deal, then you’ve mastered something that millions of other people will never manage. This gives you a distinct advantage. However, many people can’t make this step– they don’t have the willpower, the time to learn, or even any idea of where to start.
To people who fall into this group, the idea of hiring a consultant who can teach them thrifty ways makes financial sense. They can incur this expense, but then the lessons will pay for themselves with the lifelong beneficial advice they receive.
So if you have mastered thrifty, mindful money management, why not consider setting yourself up as a consultant to help others achieve the same aims? Let’s delve deeper into the subject, and you can see if it may be a useful side hustle for you…
You’d Be Starting A Business
If you began to offer these services, you naturally become a small business owner. That means you need to assemble a business plan, and should be looking to apply now for business financing. If these measures sound scary, don’t worry– they are more than manageable, especially for a small lifestyle business such as the one you are contemplating.
You will need to fund advertising, marketing, and website costs, so ensure that you include these in your financial plan. There’s a great guide for formulating a business plan here, which is excellent if you’re new to this world.
Define Your USP
Are you a coupon queen, always saving hundreds of dollars every time you go to the grocery store? Or are you the perfect online deal hunter, able to dig for discounts that others might miss? Or perhaps you’ve balanced your personal budget and taken control of your finances?
Whatever your specialty, this is your unique selling point; your USP. You can use this when appealing to customers, including details of great deals you have achieved in the past, or showcasing how your personal finances have improved.
Set Your Rates
It’s worth remembering that people looking for financial management help are unlikely to be wealthy, so you’re going to need to set your rates accordingly. Rate-setting is a very individual pursuit, but there’s a useful guide as to how you should value your time here— read through it, then work out a figure that you’re happy with.
While you might not be able to transition to coaching money matters full time, using your skills to teach others could be a nice side hustle for you. You have got expertise to share, and there are people out there who will be willing to pay for it– so why not give it a try?