Curt and Katie talk about money. We look at the financial needs of therapists, the perspective of clients and the public that we charge too much OR that we should not want money; the common martyrdom expectation that can negatively impact therapists and the profession.         It’s time to reimagine therapy and what it means to be a therapist. To support you as a whole person and a therapist, your hosts, Curt Widhalm and Katie Vernoy talk about how to approach the role of therapist in the modern age. In this episode we talk about: Controversy about therapists wanting money What is expected of therapists - martyrdom and a vow of poverty? Financial stability and needs of therapists The consumer perspective – am I just a paycheck? Or do you really want to help me? The importance of your WHY The perspective of the profession based on how much money is charged by most professionals Providing a social/relational service for money - Are we “emotional prostitutes?” The difficulty in assigning monetary value on what we do The goodness of our hearts and the sympathetic plea of our clients The difficulty in demonstrating and describing the value of therapy The challenge of fee setting in private practice The dynamics of insurance or social service programs impacting the clinical relationship The common questions – Am I just a paycheck? Am I important enough to help? The danger of therapy becoming transactional, especially when you’re burned out and under compensated Therapist perspective on making money, especially given the lower paid and unpaid work at the beginning of the career How the profession’s current set up impacts therapists’ ability to make money Comparison to other similar professions (like doctors) – both in their training and career trajectory, looking at why they end up making more The sliding scale problem - Are we rescuing our clients? The shame of having financial needs Self-worth being conflated with fee-setting Exercise of thinking/feeling into your fee vs practical fee setting based on financial needs The need for therapists to figure this out, so they can become more comfortable with making sufficient money to sustain their careers!   Our Generous Sponsors: SimplePractice Trusted by over 40,000 customers, SimplePractice creates software and services for health and wellness professionals. Its EHR empowers practices to run their businesses more efficiently, streamlining administrative tasks, enabling regulatory compliance, and improving documentation. Learn more by going to www.simplepractice.com/therapyreimagined . You can also sign up and receive a special promotion of getting 3 months of SimplePractice for the price of 1. Please note, this offer is valid for new customers only.    Become a Group Guru Learn how to fill a group in private practice without coffee dates or networking events, even if no one in your community knows your name yet and you have no idea where to start.  Free trainings and resources (like a free 5-day group jump start guide with your step-by-step plan to creating the group your ideal clients are ready to enroll in today) at www.becomeagroupguru.com.   Resources mentioned: We’ve pulled together resources mentioned in this episode and put together some handy-dandy links. Facebook Ad: Still Dreaming of Being a 6 Figure Therapist? Katie Read Article: How much money do you need to be happy? Facebook Live with Tiffany McLain Study from California Bar Association: Pessimism for the future Michael Blumberg, LCPC Tiffany McLain – Hey Tiffany! Therapy Reimagined 2018: Ben Caldwell - Saving Psychotherapy Saving Psychotherapy (Book) by Dr. Ben Caldwell Casey Truffo Citation: Crain, A. (2016). Understanding the impact of unpaid internships on college student career development and employment outcomes. NACE Journal.   Relevant Episodes: Who Gets to Have Therapy? Tiffany McLain: Making Bank as a Therapist   Connect with us! Our Facebook Group – The Modern Therapists Group Therapy Reimagined 2019