Money Skills with Linzy Bonham

Pursuing Private Practice

Welcome to the Pursuing Private Practice Podcast!

Join Jennifer & fellow CEO Linzy Bonham of Money Nuts and Bolts as they dive into the emotional aspects of our relationships with money, how money acts as a boundary in your business, and how finances are different for each stage of business.

Join the conversation as they discuss:

• Relationship with Money: Money is not just about numbers and data but also about the emotional relationship we have with it. Money is a means of exchange that's deeply interconnected with our lives and is an unavoidable part of our existence. It's crucial to understand one's relationship with money, including the emotions, stories, baggage, shame, and trauma associated with it.

• Stages of Business: Different stages of business have different financial needs and complexities. Starting with a solo practice requires creating structure and clarity for the money management foundation. As your practice grows, you should be flexible and curious, adjusting your systems as needed.

• Money as a Boundary: Money serves as a boundary in professional relationships, including raising rates and making changes to your service offerings. Understanding your boundaries and making changes to them is vital for maintaining a healthy therapeutic relationship. Boundaries can shift as you move through different chapters of your career. It's essential to adapt to these changes and own the phase you're in.

• Cancellations Fees: Maintaining reliability with clients, including adhering to cancellation fees and being in touch with your changing boundaries, is essential for a productive and respectful clinician-client relationship.

Money is not just about numbers; it's also tied to our emotions and life experiences. Your financial needs change as your business grows, and it's crucial to adapt your money strategies & boundaries accordingly.

Linzy Bonham is a private practice therapist turned money coach who helps private practice owners and health professionals feel calm and in control of their finances through her coaching at Money Nuts & Bolts and her podcast Money Skills for Therapists. It all started when she saw her extremely skilled colleagues struggle with the money side of business. Some had even left private practice or were avoiding starting one because the financial side was too stressful. So Linzy decided to help therapists and health professionals develop peace of mind about their money. Since so many were never taught these skills, she focuses on the “how” of making the business side of private practice doable, and even super satisfying.

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