WP99 | Money Mindset for Christian Therapists
Whitney's solo episode on the Wise Practice Podcast dives into the critical topic of money mindset for faith-based practice owners. She emphasizes the importance of financial literacy and the spiritual significance of managing money wisely, recognizing that as practices grow, so does the responsibility of financial stewardship. Whitney shares personal experiences about the fear and challenges of making financial investments in her business, such as hiring staff and expanding her office space, and highlights common money mindset blocks, like undervaluing services and fear of taking risks. Ultimately, she encourages listeners to shift their mindset, invest wisely, and embrace the financial growth that supports their calling, all while grounding their decisions in faith and Biblical principles.
The Importance of a Healthy Money Mindset
So many practice owners struggle with fear and hang-ups about money, and I see this frequently in our Wise Practice community. Whether it’s the fear of making investments or the reluctance to charge what you're worth, these challenges can hold us back from taking our practices to the next level.
As I look back on my career, I realize that every major growth moment came with a financial risk. From leasing my first office space to hiring my first therapist, these decisions all required financial investment. And yes, each of these decisions came with a certain level of anxiety, but they were also opportunities to trust God and move forward in faith.
It's important to remember that profit isn’t just about money—it’s about having the resources to grow and serve more people. A healthy practice requires profit to reinvest in the business, hire the right people, and expand your services. So, as uncomfortable as it may feel, we need to shift our money mindset to allow for growth and success.
Money Mindset Blocks: Identifying and Overcoming Them
Many of us have deep-rooted beliefs about money that stem from our upbringing or past experiences. These beliefs can create money mindset blocks that prevent us from stepping into the fullness of what God has for us. Here are some of the most common money mindset blocks and how we can address them:
Fear of Charging What You’re Worth: It’s common for therapists to undervalue their services, fearing they won’t get clients if they charge too much. But undervaluing your work can lead to burnout and financial stress. Remember, charging appropriately benefits both you and your clients, as it allows you to show up fully present and committed to the therapeutic process.
Scarcity Mindset: This is the belief that there aren’t enough clients or resources to go around. The truth is, there are plenty of people who need therapy, and if you’re doing the work to make your services known, clients will find you. Combat scarcity thinking with faith in God’s provision and an understanding of the abundant need for mental health services.
Fear of Taking Financial Risks: Whether it's investing in marketing, software, or hiring staff, taking financial risks is often necessary for growth. Instead of fearing the worst, trust that God is guiding your steps and that the worst-case scenario isn’t as bad as you think. Every investment is an opportunity for growth, learning, and refinement.
Lack of Financial Literacy: Many of us didn’t learn how to manage money in school, and financial decisions can feel overwhelming. Make it a priority to educate yourself about budgeting, cash flow management, and retirement planning. Work with financial professionals who understand the unique needs of practice owners.
Imposter Syndrome: This sneaky mindset block makes us feel unworthy of success or question our abilities. The only way to overcome imposter syndrome is to keep showing up and proving to yourself that you are capable. Over time, your confidence will grow as you see the impact you’re making.
Resistance to Outsourcing and Delegating: Many practice owners try to do everything themselves, leading to burnout and stagnation. Delegating tasks like marketing, intake, and administrative work can free up your time and energy to focus on what truly matters—serving your clients.
Avoiding Financial Planning: It’s easy to put off financial planning, especially when you’re busy with the day-to-day demands of running a practice. But setting financial goals and tracking your progress is essential for long-term stability and growth.
Emotional Spending: As therapists, we often make financial decisions based on emotions rather than logic. Being mindful of your spending habits and making decisions that align with your business goals can help prevent unnecessary financial stress.
A Biblical Perspective on Money
As Christians, we know that money isn’t just a practical concern—it’s a spiritual one too. The Bible has a lot to say about money, with over 2,350 verses on the topic! Jesus Himself taught extensively about money and possessions, emphasizing the importance of stewardship and generosity.
Here are ten biblical principles to guide your money mindset as a faith-based practice owner:
Trust in God’s Provision: Matthew 6:33 reminds us to seek first God’s kingdom and righteousness, and all these things will be given to us as well. Trust that God will provide for your needs as you honor Him in your business decisions.
Be a Good Steward: Luke 16:10 teaches us that those who are faithful with little will be entrusted with much. Steward your resources wisely, whether they are small or large.
Give Generously: Proverbs 11:25 says, “A generous person will prosper; whoever refreshes others will be refreshed.” Prioritize generosity in your business, whether through tithing, supporting charities, or offering sliding scale services when appropriate.
Avoid the Love of Money: 1 Timothy 6:10 warns that the love of money is the root of all kinds of evil. Keep your focus on serving others and building the kingdom, rather than accumulating wealth for its own sake.
Plan and Prepare: Proverbs 21:5 says, “The plans of the diligent lead to profit as surely as haste leads to poverty.” Make financial planning a priority, and trust that God will guide your steps as you prepare for the future.
Invest in the Right Things: Matthew 6:19-21 encourages us to store up treasures in heaven, where moth and rust do not destroy. Invest in things that have eternal value, whether that’s your relationships, your clients, or your community.
Work Diligently: Colossians 3:23-24 reminds us to work with all our hearts, as working for the Lord, not for human masters. Approach your business with excellence and diligence, knowing that your work honors God.
Live Below Your Means: Proverbs 22:7 warns that the borrower is servant to the lender. Avoid unnecessary debt and live within your means, trusting that God will bless your financial discipline.
Be Content: Philippians 4:12-13 teaches us the secret of being content in any and every situation. Practice contentment and gratitude, knowing that God has already provided all that you need.
Seek God’s Wisdom: James 1:5 encourages us to ask God for wisdom, and He will give it generously. Pray for guidance in your financial decisions and trust that God will lead you in the right direction.
Final Thoughts
Money mindset is a crucial aspect of running a successful practice, but it’s not just about the numbers. It’s about aligning your financial decisions with your faith and trusting that God will provide everything you need to grow and serve your community.
If you’re struggling with money mindset blocks, take some time to reflect on your beliefs about money and how they might be holding you back. With God’s guidance, you can overcome these obstacles and step into the fullness of what He has for your practice.
If you want to dive deeper into these topics and get ongoing support, consider joining our Wise Practice membership community. We’re here to help you grow your practice, honor God in your business, and make a lasting impact in your community. Visit our website to learn more, and feel free to reach out with any questions.
Until next time, keep growing, keep trusting, and keep making a difference!
Show Sponsor Arc Integrated
Arc Integrated specializes in helping leaders navigate change with confidence. With personalized coaching, leadership training, and strategic planning, Arc Integrated helps clients to reduce stress, enhance communication, and build emotional intelligence within their teams.
Clients of Arc Integrated report results like...
Improved leadership skills
Increased team cohesion
Enhanced organizational performance
Increased retention of employees
Visit www.arcintegrated.com/coaching to schedule a free leadership consultation. You'll have the chance to receive some tangible strategies to help drive the success of your practice.
Show Sponsor RevKey
As a mental health professional, you probably pursued this career to make a difference in people's lives. After years of education, training, and professional practice, you've identified specific areas of expertise where you excel and are eager to assist the clients in your niche. However, you've noticed that these particular clients aren't seeking your services. While you enjoy helping any client who comes to you, your desire is to work closely with those whom you can best support.
This scenario is familiar to many therapists who are starting out in private practice, aiming to build a client base aligned with their expertise. But this doesn't have to be your experience. RevKey, a Google Ads Agency that specializes in working with practices of all sizes, offers solutions through Google Ads and digital marketing strategies that can effectively connect you with your ideal clients.
Reach out to the experts at RevKey today to grow your business in the right direction!
Links and Resources
Looking for support and connection: Join the Wise Practice Community
Learn More about Wise Practice Consulting
Connect with Wise Practice on Instagram
-
Leading a group practice is not easy. We did not go to school to learn about business or really leadership skills. We went to become therapists. So as you grow your group practice, it's hard to know where to go to learn more about being a good leader. Years ago, my practice felt out of control for me. I had six to eight therapists.
I wasn't really sure what leadership roles I needed, what my policies and procedures were and I was scared to communicate because I didn't know what my therapist would say to me and I wasn't sure how to communicate effectively with them. That was when I reached out to ARC Integrated and began my coaching package with Michael Dietrich Chastain.
Then I learned how to appropriately communicate with my therapist. I began to understand what was happening within me that was making me so nervous about those conversations. I began to put policies and procedures in place that brought structure and organization to the practice. And I was able to put therapists in leadership roles so that the pressure wasn't all on me.
Looking back at my work with Michael, I see that I was changed and the practice changed and we started on a trajectory of growth and success. In fact, my practice is double the size now from what it was then. And I adhere a lot of that to my work with Michael, because it helped me become a better leader and more confident in my skills.
So if you're a group practice center or organizational leader, and you're looking to grow your skills, understand yourself better, bring more team cohesion and retain your employees, I encourage you to reach out by going to arcintegrated. com slash coaching. Let Michael know you heard about him from me on the wise practice podcast, and he would love to work with you.
In fact, if you head to arcintegrated. com slash coaching, you can schedule a free leadership consultation. I know when I did my free consultation, I learned tons and you will too. Hi, I'm Whitney Owens. I'm a group practice owner and faith based practice consultant. And I'm here to tell you that you can have it all.
Want to grow your practice? Want to grow your faith. Want to enjoy your life outside of work. You've come to the right place. Each week on the wise practice podcast, I will give you the action steps to have a successful faith based practice while also having a good time. Now let's get started.
Where she grows your practice.
She don't play she does business with a twist of faith. It's Whitney Owens and the wise practice podcast Whitney Owens and wise practice podcast
Hello and welcome back to the wise practice podcast I'm so glad you're here and that you choose to listen to me every week and for those of you that are new Yay, welcome to the community and I'm really glad you're here You We are the wise practice community through the podcast, the membership community, through the summit and all the things that we do, faith based practice owners, so I'm so glad that you are here and hanging out with me today.
I'm looking forward to helping you out in your practice. So today I'm going to be doing a solo podcast episode on money mindset. So a couple of reasons why I'm diving into this today. One is, this has kind of been on my mind, and I'm realizing that I pretty much spend all day just making decisions about the money.
You hear me? You with me? As my practice is growing, it's more and more important that I know how to manage the money in the practice, because not only is my salary dependent on it, but the whole practice. And the more people I'm hiring, that's more responsibility, more money coming into practice. More people that we're serving in the community.
So it's important that I know what I'm doing with the money, right? And that I'm not letting it stress me out. Of course, you're going to have time to say you're stressed out. That's normal. But we want to do all that we can to have an appropriate money mindset so that we can do the best of what God has given us.
Now, I'm seeing a lot of practice owners fearful about money or have hang ups about money. And that was why I dove into this at our well asked practice community I guess about a month or so ago, it was in our WISe teaching. So just to kind of explain that to you, every week in the WISe practice membership community, which is a paid membership community for WISe practice members.
We get together on Wednesdays at one o'clock Eastern and do something on Zoom together. So it's a teaching or an expert coming in and teaching or I'll open up, sorry, I'm not talking right today, open office hours or a work session. So we come together for those events and then. We have other things within the community as well, such as paperwork for your practice courses.
You can take accountability groups, things like that. So if you want to hear more about that, just head to the website. What's practice consulting. Um, we do open those doors a few times a year. They're not necessarily open right now, but feel free to go learn more about the community and reach out if you have questions about it, but that's what the community is.
I try to teach things within that community that I'm sensing it kind of in a spiritual sense, or maybe just hearing from practice owners, and I was hearing a lot about fear of making investments in money. And as I look back on my career, I think about times that I really took it to the next level in my practice.
So some of these are when I got my first office space, when I got my first client. These are kind of my most, and when I Started my first mastermind group, like I joined it and it was the first time I ever paid for consulting. I was scared as mess, ended up being one of the best investments I've ever made in my career because I would not be where I am today without that looking back on it.
When I hired my first therapist, that was game changer. When I expanded my space, when I've hired my first admin for the practice, I don't want to purchase the building recently would have started consulting all these things. Now, every single one of them was a risk. Every single one of them had to put money on the line.
Now there was a lot more than just, Hey, I'm going to do this. Here's my money. You know, there was a lot more that went into it. And that's what we're going to go into today. But I wanted to practice with. It's important. That we think about money because that is the very thing that's going to make the kingdom Because it's the things that god is putting in your heart and in your mind that you need to invest in I do not want to be the reason that things don't move forward.
Now. Does god need me? No, does he need you to do something? No, he invites us to do it And it's a gift that we get to do it and you choose to be a part of it or not and so we choose to make the investment and You know is something that we do in faith and we believe god for it So I want to go into a little bit about money mindset.
And like I said, this is a presentation that I did for practice centers, but it's something that I think is really important. So I've already kind of identified why we're talking about this. But another thing to remember is that if your business is not making profit, it's not going to grow. I think so many people function in a income in, expenses out, as long as I'm not going in the negative.
Appreciate it. Hey, that's great. Don't go in the negative, but you'll never have money to invest in your business if you don't have profit. So it's not actually going to really grow. It's important that you are able to make that investment. So I encourage you to set money aside every two weeks, every month, every quarter, whatever it is.
And maybe you take that money out for yourself, but maybe put a little bit back into the business in some kind of way that you want to make sure that you're having some kind of profit to move your business forward. But more important than the actual money that you have in your business is your mindset about it.
Your mindset is going to influence all the decisions that you're going to make about money. So we want to go back and look at that. It's just, y'all are therapists, you get it. It's the idea that, right, action, behavior. Did I just, I totally just botched that. Let me, let me do that again. CBT. Ha ha ha. It's that thought leads to behavior, leads to action again.
And so when you're walking people through that process, we all know that we got to figure out the behavior and then go backwards to the feeling and go backwards to the thought. So just with money, you're going to have behaviors as a business center that are influenced by. Your feelings about money, which are influenced by your thoughts about money.
That's kind of why we're taking those steps backwards. You get it. I know you do. You're a therapist, right? So we're going back to basically those core beliefs. So if we were to be doing some kind of workshop right now, I'd be telling you to, Hey, we'll add a piece of paper. Let's start writing down some of our thoughts about money mindset.
What were the things that you learned as a child, right? Now, if you're at home and you have a minute or you're at work, maybe you're working on something and listening to me at the same time, take a second to stop and think a little bit about how was I raised and how does that influence the way I think about money?
You know, I, I hear stories about practice owners who saw their parents as entrepreneurs, but then their businesses failed. And so they're fearful to make any. Investments in their business after they watched that happen, or the opposite where they saw their parents succeed and do great things within their entrepreneurship.
So then they want to do the same things. So there I have the ability to take more risks because they see it work. There are so many different storylines that we could go with and you have a particular one for you. So I think it's vital that you start outlining what those are for you. Positives and the negatives, right?
We want to identify what those common money mindset blocks are. So that you can move forward in the things that you want to do in your business and the things that more importantly, God wants to do in your business. So I want to take a few minutes to address some common money mindset blocks and they don't want to talk about what does the Bible actually say about this?
What's a Christian perspective on what we're talking about? Cause that's what we're here for. So some of the really common ones, and I'll kind of jump through these quickly, maybe share a few examples, but. The first one, and you could probably relate to this, I think almost all of us can, is fear of charging what you're worth.
So many therapists start with this, they're afraid that they won't get clients, right, if they charge too much, or they feel guilty, or who am I to charge that amount? Imposter syndrome, which we'll address in a few minutes. But practice owners constantly undervalue their services. They're not charging what they're worth, they're not making enough money to make the bills.
And then they're feeling guilty, they're feeling negative, not feeling good. I actually remember, you know, the things that you say with people and it totally influences you. I interviewed Mike Michalowicz years ago on a separate podcast that I used to have, and we were talking about when therapists don't charge enough, how it causes us to not focus as well.
Like I remember in those early days, solo private practice. I'd be meeting with a client, but I would see that someone had called before the session, but were there at the end of turn to get back in touch with them for the next client. So I would sit there and think about that while I was in the session, because I'd be thinking, Oh, I got to call that person back.
I got to get them on my schedule. Because you know what? I have a mortgage to pay. Or I've got food that I need to buy for my family, right? So I'd be constantly thinking about the importance of filling my caseload, or I'd be meeting with a client worried if they were going to reschedule her, right? I know you feel it with me.
And one thing that Mike talked about was, yeah, when your prices aren't high enough, You're worried about that, but when you actually have higher prices, the therapist is more engaged in the session. And I think that's so true. And we know that clients are more invested in the session.
As a mental health professional, you probably pursued this career to make a difference in people's lives. After years of education, training, and professional practice, You've identified several areas of expertise where you excel and are eager to assist clients in your niche. However, you notice that these particular clients aren't seeking your services.
And while you enjoy helping any client who comes in your door, your desire is to work closely with those with whom you can best support. This scenario is familiar to so many therapists who are starting out in private practice, aiming to build a client base along their expertise. But this doesn't always happen to be your experience.
You Revkey though, it's a Google ads agency and they specialize in working with practices of all sizes, offering solutions through Google ads and digital marketing strategies. They can effectively connect you with your idol client. Reach out to the experts at Revkey today to grow your business in the right direction.
I remember when I first, first got my product practice, I was coming from an insurance based practice. Long story, but I was no longer able to take insurance because she fired us all in one day. We caught she called it bloody Monday That's I think I talked about that story in the first episode of the podcast a list of that But anyway, so I started my own practice with some other ladies and I charged only 40 a session Talk about undervaluing yourself And I was nervous because I didn't think they'd keep seeing me without insurance.
That was what their co pays had been. And then my regular rate was 80. So I was charging 80 for some of the other clients and a few at 60. The clients that were paying 80 were way more invested than the ones that paid 40. So the higher prices are not only helping you, but they're helping your clients.
It's that first money, money mindset block, is fear of charging what you're worth. Then we have scarcity mindset, which kind of goes with that, people charge a low amount because they're afraid they won't get clients. So therapists are believing that there's not enough business to go around. This creates anxiety, they become overly cautious, and they don't make financial investment because they're afraid there's not enough clients, thus there's no way of money to go around.
Y'all just open your eyes. Do y'all see how many people need therapy? Oh my gosh, I actually, maybe you're not in the mindset with this, but I think everyone could benefit from therapy just the way everyone can benefit from going to the gym. It's a mental thing. It's an emotional thing. You're taking care of yourself.
There are enough clients to go around. You've just got to make sure they find you, right? So when you've come up to the scarcity mindset, being able to combat that with what you know reality is, right? What you see around you. And through prayer, I remember sitting at my desk, not knowing when I would get another client, and thinking, if I don't get a client, I'm not going to make it.
And I would pray every single time the phone would ring when it needed to ring. God was so good. And giving me exactly what I need it now. Did he give it to me at the last moment when I didn't think I was going to make it? 100%. That's how it happens, y'all. But that second money mindset is about scarcity.
All right. The next one is fear of taking financial risks. The therapists and practice centers avoid investing in marketing, equipment, staff, hiring, because they fear the financial loss and can prevent practice from expanding. Right. Okay. If you don't invest in marketing, no one's going to find you. If you don't invest in software, you're going to have a hard time running your practice.
You got to have an EHR. You got to have a HIPAA compliant vetting system. You're going to have a hard time taking care of people. So you've got to make those financial investments if you want to expand. And if you want to go grow and look, the worst thing that can happen, if it's not out, then you just stop it.
Okay. People are always scared of hiring their first therapist and I get it. It can be scary. It's a huge investment, but the worst thing that happens is You decide you don't want to have group practice six months down the road. At least you tried, right? The worst is you start with an EHR and it doesn't work for you.
So you stop paying for it. I think with all things, monitor, make sure it's working and then move forward. Right. And I think we get this idea that like we make this decision at the end of it. It's not, you can change your decisions. That's actually what I love about running a business is it's constantly like a experiment of different ideas and things.
And over time, I've gotten more used to it and learned to kind of laugh and have fun with it instead of being afraid. The next money mindset block is a lack of financial literacy. So we just don't know what to do with money. We don't have that understanding. We're practice owners. We did not go to school to learn how to budget.
We learned about cash flow management, making financial decisions, retirement. So make sure that you've got people in your back pocket. Okay, that could be a fetish planner. You're an accountant, consultant, whatever it is that you need to help educate you. Read books about it. I know I've raved about Great Oak Accounting.
They have so much great information. Great Oak Accounting is specifically an accounting firm for practice owners. Another resource that I really love is Turning Point Financial. They do a lot more for practice owners on the planning side, the retirement side, the Um, short and long term considerations within your practice to make sure that you're well cared for.
So make sure you have that financial literacy that you need as a practice owner. We mentioned this one already, imposter syndrome, feeling unworthy of being successful, doubting your abilities and achievements and not pushing yourself to do more. I truly think the one of the only ways to overcome imposter syndrome is to keep doing it.
Like the only way you're going to know you're a good therapist. Is to try being a therapist and seeing that it's okay and it works, right? I mean, I felt like silly sitting with my first client, like, who am I to do this? I don't know how to do it. And then they're going to pay me all this money for it.
What? But now that I'm done it for so long, I see that, oh, I do know what I'm doing. Oh, I am helping people. And yes, I am worth it. So you got to get out there and do it, but know that you're not a lion and feeling like an imposter. And the only way to not feel like an imposter is to show yourself that you actually are capable, right?
So a lot of therapists also with money mindset, they are resisted to outsourcing and delegating. So they are the bottleneck of their business. They're taking all the calls in their business. And they don't know how to outsource the marketing, the intake, social media, email management, all the things. This is going to lead to your burnout.
You're going to be exhausted. Okay? You've got to find ways to outsource. It doesn't have to be everything at once. It could just be a little bit at a time. But it will make a big difference. And I would say, for myself, this has been one of the reasons for growing a successful group practice is it's been one of the reasons for growing a successful group practice is Putting people in the right place and knowing how to delegate it out to make sure that you were delegating.
Try a little out of turn, see how you feel. And again, watch your results, track your numbers, make sure that it's working, right? And I think another roadblock is avoiding financial planning. Like we just don't want to set goals because we don't want to think about them. We don't want to think about tracking expenses.
It's a hassle that to think about, or we're busy throughout our day. You've got to make that time, financial planning for budgeting and thinking about the future, because we know things can be unstable. So you want to be prepared. Another learning mindset issue is emotional spending. So therapists, we make impulsive financial decisions based on our emotions rather than business logic.
I think that's a simple one that we understand. We see our clients do it often. So, uh, what I see the most common is fear, like fear that I can't do things and then I buy all these products and services to try to help me. And the emotional spending doesn't help. So when you are looking to delegate, some people are scared to delegate.
Some people pay for everything to delegate, and they really need to be thinking wisely about which things do I need to delegate and which ones do I not. All right. So here's what kind of address some of these money mindset issues. We really want to come back to this idea of where is God in all this? How does he want to change your mindset about money and what does the Bible have to say?
About money, right? So I want to help you understand God's perspective on wealth and stewardship So i'm going to go through 10 different Applications and thoughts about changing money mindset before I do that. Let's address real quickly Does money come up in the bible? Well, yes In fact, it's almost twice as many verses about money than about faith and prayer combined Whoa, that's a lot.
So Jesus had a lot to say about money. Roughly 2, 350 verses in the Bible concern money. Nearly 15 percent of everything Jesus spoke about was related to money or possessions. 16 of the 38 parables dealt with the topic of money. And the only subject Jesus taught more about than money was the kingdom of God.
Alright, so we know money is important, right? So let's talk about some biblical principles. Number one, stewardship. We are God's stewards to his resources. We are not his owners. So we are entrusted in managing what God has given to us, right? It's not mine. It's his. Can continuously give back to him what he's already given to me, trustingly, he will take care of it.
So how do we apply this to our practice? Stewardship involves budgeting, you know, caring well for what God has given you, saving, not emotionally spending, but putting it aside and waiting on God to show you the right term to invest and using your resources wisely. So that's your money and also your time, your energy, what God's already given you in your practice, not to be wasteful.
The next biblical principle is generosity. So that's helping others in need. We know that there are plenty of Bible passages about helping others, right? So it's how can we be kind with the way that we use our money in our practice? One way I do that is through sliding scale for partners. We're working with organizations that we provide discounts and services.
We have several organizations that we work with that we do that either it's churches or organizations that serve cancer survivors and those that are currently in treatment. We have therapists that specifically work with them at a discounted rate. The third biblical principle is avoiding debt. Now, is there a passage that specifically says never go into debt?
I don't quite see that in the Bible. It doesn't prohibit it, anything that I'd see. But there is encouragement to not go into debt, not excessive debt. Some debt's normal, right? That's kind of part of the investment. For example, I just bought a building and That is an investment, but I'm also in debt, right?
I think it's considering, are you going into debt in a way that you can't continue to pay at all? Or are you going into too much debt? And it's the thing that you're purchasing important to the growth of your business in God's kingdom, right? So to avoid unnecessary debt and always be consistent in paying off your debt, you know, that is definitely in scripture.
The fourth biblical principle is commitment. Be, I mean, sorry, contentment, being content with what you've been given, right? Stop looking at everybody else's practice, how much money everyone else is making, but knowing that you are in a good place for what God has given you. So practice focusing on the good that you have.
Instead of what you don't have. That's good across the board for money and for other things. But that one is honesty. Be honest in everything that you do. Now, maybe that seems simple, but I feel like see this across the board. We inflate our numbers. Because we want to look good or sound good. I specifically see this with people who do business consulting and want to show people that you have a great business.
Come work with me and make all this money, right? Not that simple, but it's important that you're not inflating it. Or sounding different, or changing something to get more money. Saying that you are a therapist that works with a certain type of client when you really have no training in it. Right? I mean, most of us have some good training, but you don't want to say, Hey, I do this kind of, and if you've never gotten any training or don't know anything about it, right?
Just to get clients. So be transparent. And all your financial transactions in your business practices. The sixth one here, biblical principle is diligence and hard work. The Bible praises hard work and diligence. Plenty of passages about that, so it's important that you're diligent with everything that God has put in front of you.
That you work well to manage your practice, you work well to care for your clients. That you're not lazy or empathetic in your work, but that you're productive and profitable in your work because that profit is going to allow you to make investments in the kingdom. The next one is plan ahead. We've been talking about budgeting throughout the whole podcast.
You want to make sure that you're planning ahead for what's needed in your practice, that you're putting money aside. For example, I put money aside for three to four years for this building while I was waiting on God's movement. So create those plans, put money aside, and conduct a regular financial review.
The next one is provision for you and your family. It is okay to provide for your family. Don't put yourself in a deficit to help everybody else and not be able to care for your family. So make sure that you're meeting those personal needs. And make sure that you're also going beyond that planning in the sense of saving, retirement, insurance for your practice.
It doesn't just have to be, hey, I have the money to be able to buy the groceries and that's it. It's okay to have enough money to plan for the future of your, um, family. Nine is ask for wisdom. God will give to you if you ask for it. So ask God to give you wisdom. Now, there might be God showing you something, but maybe it's wisdom through other people listening to this podcast.
I hope that this is providing you some wisdom and guidance on making financial decisions and understanding your money mindset. Maybe consider hiring a business coach, talk to other practice centers, read books, discuss with financial advisors, go to others that have gone before you and get wisdom. And the last one here is trusting God to provide.
You don't have to worry. God will provide. God does provide. Look back at how he's always provided free. And you will continue to do so. So balance your careful financial planning with a trust in God's provision. I think of it as the open hand, it's in your hand, you're managing it, but your hand is open if God wants to pull it out and change it.
This is going to reduce your anxiety and foster a more relaxed approach to your financial management. I appreciate you listening to these. I even have to remind myself of these principles because it is so easy to get carried away. Money is something that is talked about consistently, we have to think about it consistently.
So it's important that we go back to these biblical principles and remind ourselves of what God has to say and what the world says about money. I truly appreciate you listening to this podcast and how we can come together. And talk about how to build our business and where is God in that process?
That's a special and beautiful thing that we get to do together So I appreciate you taking the time to listen and look forward to being with you next week
So click on follow and leave a review and keep on loving this work. We do with whitney owens and the wise practice podcast Whitney owens and the wise practice podcast
Special thanks to Marty Altman for the music in this podcast. The wise practice podcast is part of the site craft podcast network, a collaboration of independent podcasters focused on helping people live more meaningful and productive lives to learn more about the other amazing podcasts in the network head on over to site craft network dot com.
The wise practice podcast represents the opinions of Whitney Owens and her guests. This podcast is for educational purposes only, and the content should not be taken as legal advice. If you have legal questions, please consult an attorney.
