If I asked you why you originally wanted to become a therapist, what would your response be? Most likely you would say something about having a desire to help others or some similarly altruistic reason. That would be my answer too! You probably wouldn’t say you became a therapist because you wanted to run a business or were great at managing money and setting up systems. Personally, I love being a therapist because I get to make an impact on people’s lives and I also happen to love the freedom of running my own business but to be honest dealing with the money part has been very complicated.

Money runs DEEP and can bring up all sorts of feelings depending on what relationship you had with money growing up, how naturally organized you are, and if your brain is good with numbers. My working-class family took a very passive role around money and as a result, I’ve had to figure out how to manage my finances all on my own as an adult. As you can imagine, as a Highly Sensitive Person, this has brought up all sorts of big feelings over the years such as shame, fear, avoidance, overwhelm, anxiety, and confusion. It’s been a messy learning experience, to say the least.

Even with the help of an accountant, bookkeeper, or financial planner, managing finances as a Sensitive Therapist can be emotional and overwhelming. There are so many decisions to make and conversations to be had before we even look at the money coming in or going out, let alone figure out what tracking systems to use. Each one of these questions can leave us stuck in over processing mode:

How much do I charge for sessions?
What payment processor do I use? Am I paying a reasonable credit card processing fee?
When do I raise fees and by how much? How do I tell my clients when I do?
What is the best time to charge the client, at the beginning or end of the session?
What is the best system to use to track finances? What if I don’t like the system my accountant wants me to use?
How much do I set aside for taxes, vacation, emergencies, and retirement?
Who should I hire to help me figure this all out and how much can I lean on them for support?

With our innate ability to process the meaning of everything, wanting to get things right the first time, and our high capacity for empathy, we’re often thinking about money in much more complex ways than our colleagues which often leaves us feeling decision-fatigue, overwhelm, and eventually avoidance and possibly shame about the state of our finances.

The 4 Step Framework To Get Your Private Practice Finances Totally in Order — Click the Image to Sign Up!

As we often discuss amidst our colleagues, we didn’t learn how to handle all these decisions in grad school and maybe not anywhere else either. Without having a financially savvy parent or mentor to guide you, you may feel totally in the dark. Not being in control overall is scary, but especially around money which is so essential for survival and security.

In addition to the overwhelm of managing all the different pieces of finances as a therapist, the biggest concerns I have for Sensitive Therapists around money is:

Not having enough money to take time off on a regular basis.
Working towards burnout out of a fear of not having enough, even though you currently make enough to support yourself.

There were times when I didn’t want to look at my financial situation because I didn’t want to possibly sit with the impact of spending too much or not bringing in enough, but then I got stuck in the mindset of never feeling like I could take time off for myself which we know so well is not sustainable.

Even if you’re making plenty of money, you may not realize what resources you do have if you’re feeling too overwhelmed to track everything or a scarcity mindset convinces you that the money coming in could be temporary. HSTs especially need rest and downtime on a regular basis to avoid overwhelm and burnout. It’s important to start tracking finances to be able to make decisions about vacations and financial planning easier.

Three Ways to Reduce Money Overwhelm

Below you’ll find three tips from Linzy Bonham, a fellow HST and money coach, to feel more grounded and supported when managing your money as a Sensitive Therapist.

Have a Finances Buddy

Although we do such relational work as therapists, we’re often alone when managing our finances with no community support to help us figure it all out. A finance buddy, whether it be a colleague or friend, can support you through co-working dates, holding each other accountable to get your money tasks completed, talking honestly about money worries, or sharing tips. Connection helps us stay grounded when we feel stuck. Replacing isolation and overwhelm with connection will not only help you stay grounded but will help you create a better relationship with your finances.

Make Money Meaningful

Money often feels abstract, but it is actually a means to creating an HSP-friendly lifestyle such as getting quiet time away, being able to eat nourishing foods, and being able to create a stable future. You can feel grateful for what money can gift to you rather than feeling stressed out or overwhelmed by it. One way to start connecting with the meaning behind your money is naming each line on your budget based on what it represents to you. For instance:

House expenses become “my lovely home”
Food and groceries become “nourishment”
Retirement becomes “for my future self”
Taxes become “roads and schools”

Beautify Your Financial Tracker

Spreadsheets are often boring with a sea of indistinguishable numbers and boxes or overstimulating with intense neon colors. Having the ability to notice subtle details means these supposedly helpful tools become jarring and distracting. Instead, take some time to update your spreadsheet or financial tracking tool with soft colors and pleasing fonts. Create a system that makes sense for you, both intellectually and aesthetically, to help you reduce the overall stress and overwhelm of managing your finances.

Sensitive Strengths for Money Management

Although money can be overwhelming for Sensitive Therapists, we can also use our innate abilities as strengths in this department to feel more prepared and in control. Our deep processing means we can make well-informed decisions around money and are good at thinking ahead. This is a great skill to have when planning for the future - whether it be for retirement, vacations, or having an emergency fund. Whatever it is, we’ve most likely thought of it!

Also, when we’re taking good care of ourselves, we have great instincts that can be used when hiring support, investing, or making financial decisions of any kind. With a little support or a small win, we are able to thrive even more than our non-HST colleagues. Once you start to get your finances on the right track and feel more in the driver’s seat, you will be able to feel more confident quickly.