More About Me
Leo Credit
Financial Coach
Empowering You to Achieve Financial Wellness
From a very early age I developed a fascination and interest in personal finance. I liked seeing the deposit numbers grow in my passbook savings account from paper route income while in grammar school and in high school working at the hardware store. I did not know any of the nuances of how money or currency worked but I did know that saving for a ‘rainy day’ as mom used to preach, was very important as was living within my means– if I didn’t save enough for something then I did not buy it.
My tipping point came while I was in college. It was not until then that I realized how little my parents made as compared to my college friends when discussing our student loan paperwork. By all definitions we were low income. This made sense as there were seven children to feed, clothe and house. We always had what we ’needed’ and thus never felt poor. We were never without. My folks sacrificed (often without us knowing) and could stretch a dollar quite a long way and were creative in how they managed things. Mom was big into saving what she could and never had a problem saying ‘NO’ given the right situation. As I reflect, we did things as a family of nine that were simple, cost effective and together– the latter being the most important aspect for me. I think this is why I never felt poor or had any perception that we were. Their approach and management rubbed off on all of us.
Fast forward nearly four decades -working as a physical therapist and running a successful private practice for over half of that -I have found that treating someone who is injured is not much different given a physical or financial trauma. I understand the art and hard science in both these areas along with the connections between knowledge, attitude, fear and behavior that impact one’s success. Interestingly often it is the non-monetary components that separates someone who is challenged financially (negative net worth) from someone who is truly impoverished. These can influence success and are often present when one describes factors related to poverty. Knowledge, courage and determination, openness and being opportunistic, faith and mentorship —are some of the best tools to fight financial crises despite the challenges of life that people face. Many struggle with making financial ends meet but addressing the non-number side of this is crucial in achieving success and winning with money.
As I embark in this new and exciting chapter of my professional life, I bring with me decades of experience examining problems, identifying red flags along with their collateral issues and creating plans for functional (practical) success and outcomes. My passion for teaching, guiding, facilitating, and having fun collaborating, transitions perfectly when training someone to be independent and successful in the realm of personal finance. Commitment to providing personalized services tailored to your specific needs within the coaching programs and resources I provide will help you build a strong financial foundation. I am passionate about helping you succeed and am always here to support you in your financial journey. I look forward to helping you meet your goals as you look to overcome your challenges and change the course of your financial future.
‘Disclaimer’ - What I am not:
It is important to state that coaching is not advising. I am not an investment advisor, insurance agent or broker. I do not sell securities, insurance products such as life insurance or annuities. I do have a fiduciary focus and responsibility in that I do what is in the best interest –ALWAYS for my clients so that they can achieve their goals. I listen, teach, guide, support and offer options that best fit your situation, empowering you to lift yourself to a higher level of financial freedom and independence. This is your journey and thus the success you achieve is fully through your efforts– doing your homework and ‘exercises’ that creates the best outcomes. It is my goal to get you to a point where you can create enough margin in your budget and greater independence and control over financial world to then transition to even greater success with the services of a registered financial advisor (RIA) or Certified Financial Planner (CFP) to take you to higher levels of wealth creation and management.
My Journey
Leo Credit - Physical Therapist to Financial Therapist & Coach
My journey may not be unlike yours. Life sometimes gets in the way of reaching attainable goals. Work and career (in my case investing in myself and my business); family, medical challenges and life crises while not having a process or adequate tools to evaluate, monitor and adapt to circumstances often play significant roles in hindering progress towards financial freedom / independence. Time passes by quickly when process and focus are not a priority, and this erodes your potential for achieving those goals.
In 2011 we had over $46,000 in unsecured debt (bad debt) despite leading a simple and almost budget neutral existence. Like most we wandered into debt (its insidious) and had to run like hell to get out of it. What we didn’t have was a plan that was visible and tangible to change our situation. Once we decided that enough was enough- we outlined a successful plan- thanks to some tools and guidance from Dave Ramsey and other educational platforms. We were able to resolve the debt issue within 17 months as we Snowballed it (see debt reduction strategies). We developed so much momentum that when we were down to about the $6,000 mark, we were hit with an unexpected medical bill of about $5,000. Despite that additional debt, it actually felt like a little speed bump and did not hinder us at all. The timing was crucial. If that debt hit us at the beginning- it would have been more difficult due to the emotional pain and stress it would have caused. However at that point we had so much momentum there was no stopping us! As you will see there is a lot of emotion and behavior wrapped up in personal finance. Understanding its impact is key to staying on course and winning!
I found that after going through this personally along with the power it creates in allowing one to develop increasing net worth and margin in your budget as well as life- that it would be fun to help others do the same. I started helping and consulting with friends and family as my heart is truly a teacher and someone who understands the multiple factors and challenges involved with money and behavior. Over the years as my practice grew and I developed other business interests and entrepreneurial endeavors, I set a goal to be able to transition someday into a financial coaching role when my physical therapy practice days came to an end. My passion for helping people never wanes- and my focus now transitions to helping people in a financial and behavioral aspect of thier lives as compared to their physical needs.
Along those lines I also firmly believe that in the PT world – there are some disorders, diseases and situations (including aging) that cannot be cured or rectified. PT in those circumstances is accommodative and at times palliative. From a clinical perspective that is sometimes hard to deal with – especially for a competitive person like me. However, I truly believe that there is NO situation in the world of personal finance that cannot be slowed, stopped and changed into a positive direction to grow wealth and be successful. It takes the same approach as treating injuries- guidance, reassurance, tools and strategies, hard work and perseverance (as I recall I have NEVER done an exercise for a patient)- so their success is through their hard work and efforts.
