Introduction to Practical Financial Counselling

INTRODUCTION

This course aims to equip participants with the basic practical skills and knowledge to bring someone from financial distress into the journey towards financial wellness. The field of financial counselling addresses one of the most urgent and growing needs of our time. The number and complexity of financial issues that ordinary people must face have grown dramatically.

This course aims to take the shame out of financial distress, confronts the issues that cause them and over a step-by-step strategy to move from financial distress into financial wellness. It is packed with practical tools, worksheets, discussions and ideas that work. The structured course will provide a clear roadmap and plan for participants to achieve measurable results when they execute it. 

COURSE OBJECTIVE

• Identify Mindsets and Situations that can lead one into Financial Distress
• Understand the 6 Rs in leading a person back into Financial Wellness
• Recognize the importance Budgeting and Learn How to use Counselling ‘Tools’
• Know the how Loans and Debts Works and deal with its Consequences
• Appreciate the different Assistance available to support your Counselling practice
• Managing Risks in Financial Counselling
• Learn and Apply the Critical Success Factors in Financial Counselling

COURSE CONTENT

Your Money and Your Mind

• Identifying Financial Traits & Habits that shape your Money Personality
• Understanding the Relationship between Your Money and Life (Wheel of Life™)
• Recognising Thinking Patterns that cause Financial Distress and How to Renew them
• Creating a Roadmap towards Financial Wellness (L.i.F.E.™ Blueprint & the 6 Rs of recovery: Renew, Reduce, Restructure, Reinvent, Restore, Rebuild)
• Role of Counsellors in a Financial Counselling situation (Rules of Engagement)

Understanding Personal Financial Statements & Documents

• Identifying Sources & Uses of Money (Personal Cash Flow Statement)
• Listing Assets & Liabilities (Personal Net Worth Statement)
• Creating an Effective Budget that Works with Creative Ideas (Project 5-5-5, Budgeting Worksheets in Excel, Loans & Credit Card Calculators)
• How To Use Personal Financial Statements & Documents To Identify

Borrowing Under the Microscope

• Understanding How Credit Works (Secured & Unsecured loans/debts)
• Identifying Types of Lenders (creditors) and Loans and how to deal with them
• Recognising Consequences of Financial Distress (e.g. bankruptcy) and how to avoid it
• Knowing Who to Turn to and how they can help in Financial Distress (e.g. Credit Counselling Singapore etc)

Role of Risk Management in Financial Distress

• Identifying Risks you carry when in Financial Distress
• Recognising Your Responsibilities in Managing Risks
• Understanding the Laws that can help You manage Your Risk
• Assembling a Risk Management plan that works

Critical Success Factors to get from Financial Distress to Wellness

• Understanding the Power of Simple Documentation (Project 5-5-5)
• Recognising the Power of Accountability
• Knowing the Power of Focus and Staying Motivated
• Identifying the Power of Sharing
• Non-financial issues and where to get help (e.g. Addictions, Marital Issues, Care-giving Issues)

WHO SHOULD ATTEND

This course is suitable for workers in the social service/ Human Resource field who are interested to be equipped with the practical skills to deal with financial issues. General public are welcome to attend.

AWARD

Participants who meet 80% class attendance will be awarded a Certificate of Attendance by Wealth College.

COURSE FEES

TRAINER

Bernard Lim is a Certified Financial Planner (CFP®), Certified Specialist in Financial Education (CSFE®), an Accredited Financial Counsellor (AFCouns®) and a WSQ-ACTA Certified Trainer. He is a member of the Association for Financial Counselling and Planning Education (AFCPE®). Bernard is the founder of Wealth College™ – an organization devoted to educating, equipping & empowering people towards financial wellness.

He was responsible for developing and launching the critically-acclaimed L.i.F.E. - Living in Financial Excellence® Program – a financial education program for the public which has received high commendation from Emeritus Professor Thomas E Garmen (Founder of the Personal Finance Education for Employees Foundation, USA). Over the past 11 years, he has trained thousands of practitioners in financial services industry, counselling sector and the public. He consistently receives close to perfect scores for his training content and delivery.

A much sought-after speaker and trainer, Bernard regularly conduct trainings for civil service organisations (e.g. para-counsellors of the Singapore Police Force, staff of National Institute of Education and National Healthcare Group); private corporations (e.g. banks and insurers); non-profit organisations (e.g. Credit Counselling Singapore) and professional counsellors from the social services sector. He is also an adjunct trainer with the Singapore Management University’s Financial Training Institute (FTI).

Bernard has been the driving force behind the launch of the financial services industry community service initiative — FinCARE® (Financial Counselling, Aid & Resilience Education). Through this, his team trains volunteers to be financial counsellors and educators; deploying them to serve in community projects. He has more than 20 years of practical experience in the financial services industry and volunteers regularly as a financial counsellor. Bernard has been interviewed on Asian Wall Street Journal, the Straits Times, Business Times, Radio 93.8 Live, and the CommonCents program on MediaCorp Ch5.

APPLICATION and ENQUIRIES

Alicia Loy

6593 5287

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