Online personal budgeting coach

Young adults, newcomers to Canada, couples merging finances and families who want help getting on top of their money.

Per-session fees, packages of several sessions, or small group workshops and a paid budgeting template pack.

• Patience and non-judgmental listening
• Budgeting and personal finance knowledge
• Teaching and explaining simply
• Organizing and following up

• Advice on investments, insurance or securities usually needs registration, so check with your provincial regulator and stick to education
• Debt restructuring, consumer proposals and bankruptcy advice are regulated, so refer clients to a non-profit credit counsellor or Licensed Insolvency Trustee
• Be careful with titles such as financial planner, which are protected in some provinces
• Consider professional liability insurance and a clear disclaimer in your client agreement
• Protect client data and check your privacy obligations under federal and provincial law
• Register for GST/HST once revenue passes the small supplier threshold

Startup costs are typically estimated at around $300 to $1,500, depending on your equipment, website, and the insurance and tools you choose. These are estimates only, and your own costs may differ.

Monthly revenue is typically estimated at around $400 to $2,000, depending on how many clients you take on and what you charge. Many people start from about 6 hours a week and build up from there.

Check before you start. Advice on investments, insurance or securities usually needs registration, so check with your provincial regulator and stick to education. Debt restructuring advice is regulated, and titles such as financial planner are protected in some provinces.