CO U R S E S YLLA B U S
CERTIFIE D
LFE
INSTITUTE
Wo r k p l a c e M o n e y
C o a c h i n g C e rt i f i c at i o n
Workplace Financial Literacy Specialists Since 1986.
© LFE Institute, Inc.
M o n e y C o a c h C e rt i f i c at i o n
Course Syllabus
Goal of this Curriculum
To help financial professionals and those with an
interest in offering personal Money Coaching for
employees via e-mail to learn the skills required to
master the specialized field of Workplace Money
Coaching.
In addition to building skills in each of the four
Levels of study, graduates will learn methods to meet
client expectations, help employers accomplish core
objectives, pass competency testing on each of the 30
Modules, and complete the final comprehensive testing
to receive the CWMC (Certified Workplace Money
Coaching) designation. Based on the experience of
the Money Coach, and the complexities involved in a
specific Module, some topics will involve more study
time and coaching than others, but LFE will coach all
students through the Levels they desire to complete.
While we cannot teach students everything they ever
wanted to know about each of these financial topics,
LFE will coach them on the fundamental skills needed
research core topics and learn specific strategies to
save employees money and help them avoid making
costly mistakes. Money Coaches will also create and
begin building a comprehensive Library of Knowledge
gathered from answering 150 employee questions
throughout the four Course Levels. A Certificate of
Completion will be awarded as the student passes each
Level of Study.
Workplace Financial Literacy Specialists Since 1986.
Ass o c i at e M o n e y C o a c h
Web Conference I – The Market & Money Coaching Overview
This training addresses the history of Money Coaching in Corporate America, current economic trends
affecting employees, key factors motivating employers to sponsor Money Coaching as an Employee
Benefit, what’s working & what’s not, standard fee structures, and why employers have shifted away from
telephonic and Web site Money Coaching.
Teleconference – Specific Corporate Guidelines
The second step encompasses the specific Guidelines (see LFE’s Money Coaching E-mail Guidelines) that
have become the standard for Money Coaching in the workplace. We’ll cover grammar, writing techniques,
the delivery of the information, fonts to use for easy reading, formatting, and the critical components that
can make the difference between the employee understanding the response or not. We’ll also review the
process, ways to ensure delivery of unbiased information, look at turn-around time, explore coaching
strategies and the intangible aspects of the business, and how to incorporate of the Money Coaching tools
available through the LFE Institute.
Web Conference II – Meeting & Exceeding Corporate Expectations
Our role as Money Coach Providers is to make the client ‘look good,’ answer employees’ financial
questions at the time they are making critical financial decisions, help provide Safe Harbor Protection
under ERISA, and accomplish employer goals through Money Coaching. We’ll cover incorporating
corporate goals into Money Coaching responses, the skill of answering questions without giving advice,
and strategies to motivate employees to want to learn more.
© LFE Institute, Inc.
Modules
Module 1
BABY
Module 4
Big-ticket Purchases
A new child can be an exciting event in parents’ lives, but it
is also a costly one. This Module covers how to save money
and avoid financial traps as parents begin planning to add to
their family. We’ll address ways to save money during the
pregnancy, the delivery, and during the baby’s first year. We’ll
also highlight some of the scams and financial traps associated
with each of these stages. The Money Coach will learn where
to research information, how to respond to specific employee
questions, creative ways to save money, and what resources
are available to help new parents avoid making financial
mistakes. As in each of the 30 Modules, a competency test will
be taken to demonstrate proficiency in each of the “baby”
cycles before progressing to the next Module.
One reason employees do not have more money to save for
the future is because they haven’t learned how to make the
best choices when purchasing big-ticket items. Employees
will purchase a variety of big-ticket items throughout their
work lives, and will often either spend too much or fall for
the sales pitch without having a resource to go to learn
alternative money-saving strategies. Money Coaches are
there to help them through that process. Graduates of
this Module will know where to locate helpful information,
techniques to save money, find bargains, avoid common
scams, and discover resources that will assist employees in
making smarter consumer decisions with their money.
Module 2
Banking
The volatility in the banking industry has many employees
concerned about their banking decisions. Many banks are no
longer as concerned with customer service as they are with
customer fees. These fees are costing employees thousands
of dollars every year ... money that employees could use
to pay down debts or save for retirement. This Module is
designed to help Money Coaches formulate strategies to
select the right bank, recognize fees to avoid, reduce costs,
evaluate the stability of their bank, available alternatives, and
key questions to ask. Money Coaches will be able to educate
employees on the traps and pitfalls that banks aren’t telling
their customers today.
Module 3
Bankruptcy
In today’s economy, bankruptcy is a devastating result that
can often be eliminated if the problems are caught in time.
The goal is prevention; our role is to assist employees in
avoiding bankruptcy. This will save the employees – and their
employers – both time and money. Money Coaches will learn
to communicate numerous vital aspects including how to
articulate the warning signs of bankruptcy, avoid filing, specific
steps to take, minimize costs, scams to avoid, and evaluate
when bankruptcy may be the only viable option. Graduates will
also learn what actions are necessary if bankruptcy is eminent,
which debts will not be eliminated, questions to ask the
attorney, ways to minimize costs, financial traps to avoid, and
key steps to take to recover from bankruptcy.
Module 5
Buying & Selling a Car
Other than purchasing a home, employees spend more
time and money buying or selling cars than any other
asset throughout their work lives. This eats up an
incredible amount of time at work, and contributes to high
‘Presenteeism’ costs for employers. This Module covers
money-saving strategies when purchasing or selling a
car, where to go for help, what the dealers aren’t telling
consumers, how to get additional features at no cost, and
financial traps to avoid. We’ll also address issues related to
increasing mileage, saving on gas, and the pros and cons of
purchasing a hybrid vehicle. We want employees to contact
us as soon as they begin to think about buying or selling
a vehicle; we’ll show them how to save hundreds, or even
thousands of dollars, throughout this process.
Competency Testing
Certificate received
Ass o c i at e
M o n e y C oac h
© LFE Institute, Inc.
S e n i o r M o n e y C oac h
Web Conference I – Money Coaching for Specific Industries
Understanding the corporate mindset is critical to successful Money Coaching. Students will now
begin to learn how corporate cultures today are weaving Money Coaching into the mainstream as an
Employee Benefit. We’ll cover what are industries are ideally suited for Money Coaching, what specific
challenges each of them face in this volatile economy, and how Money Coaching can help. We’ll also look
at industries that are not a good fit for Money Coaching, and why they aren’t. Our role is always to help
the client, the employer, so we’ll cover how employee financial stress is negatively affecting employers in
each of these industries, and what solutions Money Coaching provides.
Web Conference II – Focus on the Employee Mindset
This session focuses on the employee mindset when asking and receiving e-mail responses. We’ll cover
their frustrations, growing concerns about the future, financial behaviors, and how we help them through
financial coaching. We’ll explore what solutions LFE workshops address that can never be adequately
handled via e-mail, and what issues go beyond the scope of basic Money Coaching. Students will learn
motivational techniques that will enable employees to take action through Money Coaching responses,
prepare them to work with financial professionals, and have the confidence to take control of their
financial futures.
Web Conference III or Live Workshop – LFE’s System of Money Management
Students in this session will learn LFE’s unique System of Money Management taught in our “Managing
Your Money!” workshop, which includes opening communications about finances, teaching an alternative
to budgeting, giving employees specific strategies that will help avoid conflict, and moving forward
financially as a family unit. Money Coaches will have an opportunity to learn LFE’s System by either
attending a live workshop or via a Web Conference.
© LFE Institute, Inc.
Modules
Module 6
COLLEGE
Paying for college costs while trying to reduce personal
debts and save for retirement has become a major
burden on employees today. Throughout this Module,
we’ll cover ways parents can save money and reduce
college expenses, giving them strategies they probably
won’t hear from a college advisor. We’ll explore the
pros and cons of 529 Plans, what other savings options
are available, how to find scholarships, what schools
offer free tuition programs, where to look for student
loans, and avoid the latest scams. Money Coaches
will learn methods to convey parental caution when
going into debt for college, what warnings to give
their college-bound children, what to do if the student
(or parents) can’t pay their loans, and when to use a
deferment or forbearance.
Module 7
Credit
Obtaining and maintaining good credit has become
essential to the financial stability of an employee’s life,
especially in light of today’s credit crunch. This Module
will address strategies to obtain credit, what actions
have a negative or positive impact on credit scores, the
high cost of a poor credit score, plus credit traps and
pitfalls. We’ll also address many of the myths associated
with working with a credit counselor, what consumers
are never told, what services credit counselors provide
that will help employees, and what financial traps/scams
to avoid when working with credit or debt counseling
agencies. The primary goal of this segment is prevention;
we want to help employees avoid credit problems
before they escalate into financial distress or require
the services of a credit advisor.
Module 8
Debt
With personal debts at an all-time high, the goals of
this Module are to highlight the proverbial “good” debt
and “bad” debt, how to avoid and/or recover from debt
problems, how to evaluate which debts to pay off first,
and what traps to avoid when eliminating debts. We’ll
also explore instances
when debts are beneficial.
Employees are paying
hundreds of dollars to
learn how to get out
of debt. Graduates of
this module will be
able to teach them a
simple System of Debt
Reduction that won’t cost
employees a dime!
Module 9
Divorce An increasing number of financial challenges and
pressures today are accelerating the chances that
employees will see divorce as a solution to their financial
problems. It’s not, of course, and going through a
divorce can be a devastating experience for employees,
both emotionally and financially. Our role is to help
employees think through the process and the potential
financial outcomes prior to leaping into divorce as the
cure-all for their financial woes. We’ll learn some of the
pending warning signs, how to prevent future problems,
prepare financially for divorce, cut costs, and avoid
expensive financial mistakes. We’ll also address strategies
to recover financially from a divorce.
Module 10
Eldercare
Top-end Baby Boomers today are considered the
“Sandwich” generation because while they are trying
to pay their day-to-day bills, they’re also struggling
with how to pay for college for their children, save for
retirement, and absorb added expenses as their parents
age. Eldercare issues will only increase as our nation’s
population grows older. This section addresses how to
cut costs and avoid scammers who are focused on the
elderly. We’ll explore money-saving strategies to assist
aging family members, and look at alternatives to the
high cost of senior living facilities.
Modules
Module 11
Employment One of the goals of Money Coaching is to help
employees become more focused on the job instead
of their money problems. This Module explores how
to complement Retirement Plan Provider services
and “sell” company benefits through the questions
employees ask during the year. Money Coaches will
determine methods to help employees become more
valuable at work, save money for flex-spending accounts
(if available), what to do if there’s an “interruption in
income,” and handle calls from creditors at work.
Module 12
Family & Money
Money problems within the family often generate
minor conflicts or arguments, or can snowball into
an explosive situation. Easy solutions are difficult and
that’s why the focus in this area, as in many others, is
on prevention. EAP providers often deal with the crisis
that evolves when money troubles lead to family or
workplace violence, child abuse, gambling, substance
abuse, etc. Our role is to offer positive solutions to
help avoid these scenarios. The “Family” Module will
help Money Coaches learn specific techniques to coach
employees on: teaching kids about money; reducing
costs for children’s school expenses, clothes, and
activities; setting guidelines when teens are involved;
what to do about finances when adult children move
back home; and engaging aging parents in supportive
discussions about finances.
Module 13
Working with Financial Advisors
Another key Money Coach role is helping employees
prepare to work with Financial Advisors in all
areas of finance. We’re not there to give advice or
recommendations; our goal is to educate. Money
Coaches will be able to motivate employees to seek
an advisor, coach them on which financial professionals
to contact (not specific names, but classifications of
advisors, such as banker, CPA, tax attorneys, insurance
agents, mortgage lenders, CFPs, family law attorneys,
etc.), what questions to ask, and what their credentials
mean. We’ll also cover how to help employees evaluate
whether they are working with an advisor that has their
best interests in mind, what financial traps to avoid, and
when to walk away.
Module 14
FORECLOSURES
With foreclosures at record highs and expected to
increase in the coming year, helping employees avoid
foreclosures has become even more critical. This
Module covers how to spot the warning signs, strategies
employees can use to avoid foreclosures, where to
go for assistance, resources to contact, alternatives
to consider, and encouragement to recover from a
foreclosure. We’ll also cover how to help employees
avoid many of the foreclosure scams that abound in
today’s economic climate.
Module 15
GARNISHMENTS
With employee garnishment quadrupling in the past
year, it is more critical than ever to help employees
avoid this embarrassing experience that is so costly in
both time and money. We’ll cover what garnishments
cover, how to avoid it, when to contact an attorney,
consumer rights, and what happens when paychecks
are garnished. We’ll also look at strategies to use when
recovering from a garnishment.
Competency Testing
Certificate received
senior
M o n e y C oac h
© LFE Institute, Inc.
ELITE M o n e y C o a c h
Web Conference I – Pricing & Packaging Money Coaching Services
Money Coaching can be an invaluable benefit to employers, but it must be affordable for them as well. In
this Conference, we will cover various pricing strategies, how to package Money Coaching to accomplish
corporate objectives, and additional services employers are looking for today to minimize liability exposure,
increase productivity, reduce turnover and garnishments, and increase bottom-line profitability. We’ll also
explore how LFE’s “Money Minute!” weekly publication contributes to the overall education of employees
throughout their work lives.
Web Conference II – Matching Client Goals to Money Coaching Responses
Understanding corporate objectives is essential to providing the best Money Coaching responses for
employees. While a Money Coach’s role is to facilitate smart consumer decisions for employees, it is also
to accomplish the corporate agenda, keeping in mind that the agenda may be entirely different for CEOs,
Human Resource professionals, and Benefit Departments. We’ll look at matching multiple corporate goals to
employee responses to benefit everyone involved.
© LFE Institute, Inc.
Modules
Module 16
HEALTHCARE
Increasing healthcare costs are a burden to most
Americans. Saving money on healthcare expenses
is essential to the financial well-being of employees.
This lesson includes information on Consumer Rights,
organizational programs and prevention resources,
how to cut costs for medical services, money-saving
prescription strategies, and medical scams. It will also
address how to challenge over-charges, and charges for
services not rendered. The goal is to save employees
money by learning strategies they probably won’t hear
from their doctor or healthcare facility.
Module 17
HOME
With the current housing crisis, employees have a lot of
questions relating to their homes. We’ll look at buyversus-rent strategies, how to purchase a home for
less, or sell a home for more in this “buyers” market.
This lesson also includes strategies for reducing home
improvement costs, investing in retirement or vacation
homes, the pros & cons of auctions, how to avoid the
latest scams, and the value of picking the “right” location.
Money Coaches will be able to step employees through
home buying and selling decisions by arming them with
information that they’ll never hear from realtors.
Module 18
insurance
Purchasing the right insurance at the best price is a
major concern for many employees. This lesson isn’t
designed to teach Money Coaches everything they
need to know about insurance, but how to empower
employees to make smart insurance decisions that will
save them money and avoid making costly mistakes
when purchasing insurance for: auto, health, home,
life, and long-term care. This
Module addresses the “Insider
Secrets” employees probably
won’t hear from their local
agent, but are critical in
making the best decisions.
Module 19
investment & retirement strategies
This is just one of the
many critical topics
Money Coaches need
to be comfortable
addressing. Employers
know that employees
are vulnerable to the
sales pitch they receive from “advisors” today, and
often lose thousands of dollars investing in products
they don’t understand or shouldn’t invest in to begin
with. Unbiased Money Coaching is the missing piece
that employers are looking for. It isn’t about giving
investment and/or retirement planning advice; it’s about
building the skills employees need to become “informed
investors,” and giving them information they may not
learn from those selling investment products.
The lesson covers how to explain financial terms
and strategies in a language that every employee can
understand, what questions employees should ask when
making any investment decision, and why they are asking
those questions. Money Coaches will build the skills to
address investment and retirement questions on the
company’s Retirement Plan, annuities as retirement
vehicles, IRAs, ROTH IRAs, and mutual funds.
Graduates of this Module will be able to counsel
employees on bridging a potential retirement “gap,”
and provide alternative strategies to aid in stretching
retirement dollars. This will mitigate possible ERISArelated litigation by employees seeking a solution to find
extra money for retirement.
Module 20
military
Many employees have spouses or partners in the
military. This lesson covers some of the financial
challenges they’ll experience and what helpful resources
that are available. Money Coaches will also learn
simple strategies that can save money or avoid money
problems when spouses are TDY (temporary duty
away from home), as well as how to address basic tax
questions related to military personnel.
Modules
Module 21
Money Saving Strategies
Module 24
Payday & Title Loans
There are so many methods
employees can use to plug their
financial “leaks.” Helping them
stretch their dollars on nearly
every purchase shows them
they have more money than
they think they have. Money
Coaches are there to teach
employees that every time they
spend their money they are
making a choice, and they only
have one chance to make that decision. This Module
covers shopping tips, resources that can help employees
save money, common scams to avoid, and how to
negotiate on every-day purchases. Note: We’ll go into
more negotiating strategies in Module 23.
Payday loan companies charge interest rates up to
400%, and boast about how profitable their business
is. Some of the largest franchises are now owned by
banks, and lure employees with their “free” offers. Many
employees end up losing their cars and homes to title
loan providers because they don’t understand how
these loans work, how the fees are accumulated, and
what happens if they can’t make their payments. Money
Coaches will learn strategies to help employees avoid
payday lenders, look at alternatives to use, resources to
go to for support, and eliminate the payday cycle.
Module 22
Mortgage Issues
Employees face greater mortgages today than ever before.
While housing costs have gone down in most markets
across the U.S., the credit crisis has created greater
difficulties for those looking to purchase a home or
obtain an equity loan. This Module covers strategies that
will help employees select the best mortgage and avoid
mortgage scams. Money Coaches will also learn the pros
& cons of ARMs, 40-year loans, and pay-down programs,
and techniques to avoid Reverse Mortgage traps.
Module 23
Negotiating Strategies
Negotiating isn’t a comfortable strategy to use for most
Americans. Money Coaches will learn how to turn
negotiating into a game, and help employees relax and
enjoy this money-saving strategy. We’ll cover when and
where to negotiate, what types of products and services
employees can negotiate on nearly every day. Graduates
will learn effective techniques to help employees save
thousands of dollars by negotiating throughout the year.
Module 25
Personal Finance
Employees often feel lost when managing their own
finances and making critical decisions. This lesson
emphasizes how to motivate employees to continue
learning and take action once they feel they have the
right information on which to base a sound decision.
Using strategies from LFE’s “Managing Your Money!”
workshop, Money Coaches can help employees master
the life-skill of controlling their finances, reducing their
debts, easing family conflicts over finances, and avoid
making costly financial mistakes. Graduates of this
Module will also learn unbiased online resources to
recommend, where employees can go for additional
education, and strategies employees can use to become
smarter consumers.
Competency Testing
Certificate received
ELITE
M o n e y C oac h
© LFE Institute, Inc.
master workplace Money Coach
Web Conference I – Leveraging thru 3rd-Party Referrals
This training focuses on working with 3rd-party referral sources such as CPAs, Benefit Providers, 401(k)
Providers, and Compensation consultants. The role of a Money Coach is to communicate how clients can
increase profits and minimize liabilities through Money Coaching. We’ll address the latest ERISA-related
concerns and how to provide “Safe Harbor” protection for the client through Money Coaching. We’ll also
cover how the new PPA (Pension Protection Act) Guidelines are impacting employers, which referrals
sources to work with, and how unbiased Money Coaching supports both the referral source and their clients.
Web Conference II – The “Process”
This final Web Conference highlights the actual processing of Q & As from employees, cataloging the
responses to minimize liability concerns, data management, organizational skills, and monthly and yearend client reporting strategies. The goal of this session is to help Money Coaches become more efficient
throughout the Money Coaching process, and meet and exceed client expectations.
© LFE Institute, Inc.
master workplace Money Coach
Module 26
Security
Planning for financial stability and security are important
goals for every employee, and their success helps them
to stay more focused on their jobs. This Module covers
common scams and fraudulent activities that employees
are falling for today, and innovative ways to avoid them.
We also address how to avoid identity theft, what to do
if it happens, safe ways to carry money, where to keep
confidential information, and techniques to circumvent
the demands for an employees’ identity.
Module 27
Social Security
There is a legitimate concern today that Social
Security will not be available when employees get to
retirement. While employees don’t have a lot of control
over whether that’s true or not, Money Coaches
will learn how to respond to employees’ questions,
what resources can help, how to evaluate alternative
strategies, supplemental options that may be available,
and how SS will impact a retiree’s taxes.
Module 28
Tax Questions
The purpose of Money Coaching is not to give tax
advice, but to help educate employees on specific
strategies for retirement, tax-planning savings
techniques, questions to ask a tax advisor, how to save
tax dollars now, and tax scams to avoid. Money Coaches
will also learn how to coach employees on selecting
the best tax advisor, using resources available through
their employer, and using tax law to help them build a
stronger financial future.
Module 29
Travel/Vacation
Nearly every employee takes or wants to take one
or more vacations every year. This lesson covers
techniques to save money on air fare, hotel costs,
and car rentals. We’ll also look at low-cost travel
destinations, and helpful travel sites that not only save
money, but make traveling so much more enjoyable.
Money Coaches will learn how to coach employees on
inexpensive ways to have more fun, but spend less on
family vacations. The goals for this Module are to help
employees save thousands, avoid travel scams, and stay
safe when taking vacations.
Module 30
Weddings
The final Module is targeted to those who want to save
money on upcoming weddings, whether the wedding
is for the employee, or a family member. We’ll cover
how to save money on the engagement, the ceremony,
the reception, and the honeymoon. We’ll also look at
what financial decisions should be made prior to the
nuptials, financial scams to avoid, how the “timing” of
the wedding can impact costs, and how to avoid going
into debt for this happy event.
Competency Testing
This comprehensive open-book
examination demonstrates competency in
all four Levels of Study. Graduates are then
Certified as a Master Money Coach, the
LFE Institute’s highest achievement award. It
confirms that the individual has successfully
completed all essential requirements and
has attained LFE’s Certified Workplace
Money Coach (CWMC) designation.
Certificate received
m a s t e r wo r k p l a c e
M o n e y C oac h
Master Money Coach & CWMC
Designation Awarded
© LFE Institute, Inc.