Would you (or someone you know) pay for this?

[antitox]

Hello! I've been budgeting for ~5 years and have taken a great interest in optimizing my finances - to the point where I think I could help people follow some of the methods I've used and found success with. That said, I was thinking of starting a side coaching/consulting business focused on financial optimization for those in their 20s looking to get off on the right foot.

I'm wondering if you'd pay for any or all of the services outlined below (or would you have in your early/mid-20s just starting out on your financial journey)?

• Financial goal diagnosis and action plan
• Historic spending analysis and budget crafting
• Set up automatic spend tracking (via 3rd party platform)
• Development of investment "stack" (i.e. HYSA, brokerage, IRAs, 401(k)...)
• Credit optimization (best credit cards given spending habits, spending habits to maximize credit score)
• Monthly goal and budget check-ins
  
  Anything missing? I'm just looking to determine if this is a viable idea, so thank you in advance!

 

[mvgprepper27]

@antitox You're describing a financial advisor or a CFP. People need this, but typically not people that young. Target audience is typically much older.

People who serve that segment typically write books, do tiktoks, or podcasts. That makes more sense because, generally, young people don't have much disposable income and their finances aren't that complicated yet.

 

[antitox]

@mvgprepper27 Got it, thanks. Is there any room for a more guidance-focused coach ("hand holder" in a way) at a lower, more accessible price point in your opinion?

 

[mvgprepper27]

@antitox It's a CAC problem, not a demand problem. In other words, there's demand, but the cost of finding this demand is higher than what they're willing to pay you.

If you have some exceptional circumstance which gives you ready and willing customers organically, then sure, go for it. Otherwise, finding enough people to make this side hustle worthwhile will be hard.

 

[antitox]

@mvgprepper27 I would need to get creative here, no doubt. Any thoughts?