What are the first three steps to becoming money savvy? What are the stories you have around money and wealth? How are boundaries integral to helping you level up in your business?
In this episode, Joe Sanok speaks about Money Skills for Therapists with Linzy Bonham.
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Meet Linzy Bonham
Linzy is a therapist in private practice, and a consultant who helps therapists feel calm and in control of their finances. As the daughter of an accountant, she inherited a good dose of bookkeeping brain — she’s half therapist, half bookkeeper.
Linzy is the creator of the course Money Skills for Therapists, which has helped dozens of therapists and health practitioners in private practice learn how to manage their finances with calm and confidence so that they can really get their money working for them in their private practices and their lives.
In This Podcast
- Set boundaries around your goals
- The big three steps
- Linzy’s advice to private practitioners
Set boundaries around your goals
If you want to level up from your group practice and become a consultant or entrepreneur and own multiple businesses, you need to be able to remove yourself from what you used to do and welcome what you want to do.
I think that it is like … this road through hell that you have to go through to come out into something new, because otherwise [you] would have been doing that work forever if [you] hadn’t set that very clear boundary that [you] do not have a practice. (Linzy Bonham)
Every time you level up in your practice there will be people who are disappointed to see you go, but you have to keep on leveling through to get to the place where you can achieve your highest hopes and desires.
Saying “no” is essential to carving out the space and time for you to level up in your business.
The big three steps
Evaluate the stories that you have about your relationship around money
For some people who struggle with their finances, there may have been a history of trauma or a financial deficit in the family which has built up ideas in their mind around scarcity and fear.
What is really present for people who struggle with money because from the very beginning there’s been this blueprint around money, that money is chaotic, confusing, or it comes and goes with no reason. (Linzy Bonham)
The first step is becoming aware of your ideas around money and wealth because this emotional weight could be holding you back from making progress.
You can create clarity around your money in different ways, such as:
- Creating separate bank accounts for everyday spending and savings, because it creates clarity as to what is available to you and what is being saved.
- Separate your private practice money from your personal money.
Instilling clarity with your money can go a long way. When you look at and notice your money, you can identify patterns and make positive changes to tie up loose ends.
Identify what money means to you.
What do you want money to do for you in your life? This could be:
- Giving back to your community
- Giving your kids a better life than you had
- Expanding your business
Make sure to reap the benefits of the energy that you put into your money so that you are not spending it aimlessly or without awareness.
Get clear on what money means to you, and use it with intention.
Linzy’s advice to private practitioners
Money is learnable. Money is not a trait that you are either born with or not. It is a skill that you can become familiar with. Apply your ability to learn to your money.
Books mentioned in this episode:
Useful Links mentioned in this episode:
- Linzy’s masterclass 4-Step framework to getting your business finances in order
- Visit Linzy’s website
- For $100 off, head to brightervision.com/joe
Check out these additional resources:
- Brand Strategy for Your Practice with Dana Robertson | PoP 618
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Meet Joe Sanok
Joe Sanok helps counselors to create thriving practices that are the envy of other counselors. He has helped counselors to grow their businesses by 50-500% and is proud of all the private practice owners that are growing their income, influence, and impact on the world. Click here to explore consulting with Joe.
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