As a financial counselor, you need to assess the effectiveness of your work regularly. For every client you work with, you need to assess the effectiveness (helpfulness) of the financial counseling services you offer. Only then will you be able to figure out whether you are offering a useful service or not. Ideally, you shouldn’t wait till the end of the counseling relationship to carry out the assessment. On the contrary, you should be carrying out the assessment as the counseling relationship progresses. That way, you can get to see how much progress you are making, whether your financial counseling is being fruitful… and so on. There are several specific parameters that can be used to assess the effectiveness of financial counseling.
Your financial counseling can be termed as being effective if you have gotten the client to clearly identify and understand his financial problems. Once a client just gets to a point of identifying and understanding his problems, you have made good progress. To the extent that one can identify and understand a problem, he would be past the 50% mark on the path to solving it.
Further, your financial counseling can be termed as being effective if you get the client to take responsibility for his financial problems. The reason as to why people get stuck in problems is because they don’t take responsibility for the problems. So getting a client to take responsibility for his financial problems is a huge achievement.
At yet another level, your financial counseling can be termed as being truly effective if you can get the client to come up with viable solutions to his financial problems (on his own). Suppose, for instance, that the client is having problems with his credit card limits. In that case he may, on his own motion get to a point of visiting a site like www.doubleyourline.com – and applying for a credit card aimed at solving that problem. If you can get the client to take such steps – on his own accord, you are definitely making good progress.
Finally, your financial counseling can be termed as being highly effective if you can walk with the client in implementing the solutions he will have identified for his financial problems. So in this step, you serve as an accountability partner. A financial counselor at some point turns into an accountability partner: and that is a manifestation of effective counseling.