Therapy For Your Money

Episode 5: Stop Feeling Guilty About Making Money in Private Practice (with Tiffany McLain)

October 09, 2020 Julie Herres Season 1 Episode 5

Therapists tend to be great with emotions, but are sometimes scared of money. Believe in your self-worth by not feeling guilty, but good when making money in private practice. It’s just as easy to have a profitable practice, as a not-profitable practice. 

Today’s guest is Tiffany McLain, who is a creator, founder, and teacher at the Lean In MAKE BANK Academy. Tiffany talks about how private practice therapists can build both emotional and financial wealth.  

Episode Highlights:

● Conversations and Conflict: Get comfortable or be uncomfortable talking about money

● Clarity/Desire: Know what’s needed to work less, make more; not work more, make less

● Big Picture Plan: Anticipate anxiety to dream big or settle for big disappointment

● Sliding Fee Scale: State your fee and then shut your mouth, don’t make excuses

● Therapists: Who feels guilty? Women, those of color and from blue-collar backgrounds

● Social, Political, and Family of Origin: Is permission necessary to charge confidently?

● Insurance Reimbursement Rates: Run practice and still have life of freedom, flexibility

● Foundational Aspects: Surround yourself with supportive people and invest for success

● Area of Genius: Learn from others before you and spend money to make money 

 

Links and Resources:

Fun with Fee Calculator

Tiffany McLain

Lean In MAKE BANK Academy

Psychology Today

We Should All Be Millionaires by Rachel Rodgers

Uriah Guilford

GreenOak Accounting

Therapy For Your Money Podcast