25 Money Habits for a Healthy Private Practice

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made myself go to class that week.

It wasn’t easy. I’d taken a bad fall on a hike the week before, and was hobbling around with a pulled muscle. I wasn’t at all sure what I could actually do.

But I’d only been trying yoga for a few months. And as bad as I was at it (the whole thing felt like a game of Twister to me) I could tell it helped.

I also knew I had to take care of myself, or I’d never be able to keep up with my business – so I didn’t want to lose that new self-care ‘habit’.

Habits are the backbone of any successful business.

Once established, they will keep you sane when things get crazy, and support you when your business grows and overwhelm threatens.

And no where does this matter more, than in how you manage, think about and relate to your money.

So in no particular order, here’s a list of money habits worth cultivating for a healthy private practice (and REAL financial success.)

And some of them are a lot more about what’s in your head, than what’s in your wallet. 

1. Set up separate accounts for your business – savings and checking – that are completely separate from your personal accounts, and never ever mix the two.

2. Set aside 20-25% of every dollar you make for taxes. You’ll never worry about making quarterly payments again.

3. Set another 10% or so aside for business savings, and leave it alone. You’ll be surprised by how fast it grows.

4. Track your mileage (business mileage can shave thousands off your tax bill), and keep your business-related receipts. You never know when you’ll need them.

5. Know your numbers. What’s your gross income for the year so far? How does this year compare to last? How about your net? What do you need to be taking in weekly or monthly to meet your goals?

6. Pay yourself some kind of regular salary – no matter how small it may be at first.

7. Don’t be the bank for your clients. Set a limit on how much credit (if any) you’ll allow a customer to carry before they need to pay you, and arrange credit elsewhere.

8. Don’t offer too many discounts. Instead, add value (like a new bonus) when you want to encourage a buyer.

9. Get paid in advance whenever possible, or at the time of service.

10. Add packages to your offers, and move away from dollars for hours.

11. Charge what you’re worth, for Pete’s sake. And charge for the difference it makes, not the time it takes.

12. Create a money mantra, like “I love money and money loves me!” (One of my faves from Jen Sincero’s new book.)

13. Say it out loud every time money flows through your life. Someone pays you? Say it. You pay a bill? Say it. Find a quarter on the sidewalk? Say it. (And smile!)

14. Create prosperity prompts. Write powerful quotes on index cards and hide them everywhere so you’ll find them when you least expect it. Here’s one to get you started: “The key to abundance is meeting limited circumstances with unlimited thoughts.” – Marianne Williamson.

15. Watch movies that make you feel like anything is possible. Because it is. (Start with The Pursuit of Happiness, with Will Smith.)

16. Read books about how to create a positive money mindset, like this one, or this.

17. Set a specific number you want to reach next in your business. Then, write a check to yourself for that amount, from “Your Ideal Client” and post it somewhere that you’ll see it every day. (I have a whole stack of these pinned to my bulletin board, every one of them having come true.)

18. SEE that number. Put post it notes up all over your house with that number, and visualize it coming to you in surprising ways. Get in touch with the joy you’ll feel when it does.

19. Aim higher. When you get that amount (and you will), set a new number, and write a new check.

20. Carry cash in your wallet. Even a stack of ones will feel abundant every time you look in there, and that’s powerful energy.

21. Pick up the tab from time to time, even when you feel like you can’t. The energy rush you’ll feel from being able to “practice abundance” is powerful.

22. Round up. When a monthly bill is an odd amount, like $142.35, round up and pay a little extra. Or pay ahead. You’ll feel downright wealthy.

23. Write thank you every time you sign the check at a restaurant, and add it to the memo line when you pay a bill by check – even if you’re paying bills on line.

24. Say good morning to your money, by checking your bank balance every day. Send love to your accounts – whether they’re where you want them to be or nowhere close. Work on a healthy, loving relationship with your money.

25. Invest in your learning. Even though it may seem counter-intuitive, you have to surround yourself with the expertise and training you need to reach the next level in anything you do. Take your growth as a business owner seriously.

There are many more, but that’s a good list to get you started.

I did go to yoga, and it was hard. But the next day, I felt better. Much better.

Habits (a practice) are like that. They build muscle, even restore it.

Build your financial muscles with each of these habits, then let out a little grin when your bank account begins to rise.

Because it will.


You may also like:

How to Stop Losing Money in Your Private Practice
Money is Energy (and Why Yours Matters Even More Than You Think)
3 of the Best Kept Secrets for Powerful (Joyful!) Success
How to Make More Money – & Do More Good - for Your Clients

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