Therapy For Your Money

Therapy for Your Money: Becoming a Wealthy Therapist In this episode of 'Therapy for Your Money,' host Julie Herres discusses her insights on wealth accumulation for therapists. The economic rules discussed include spending less than what one earns, saving at least 10% of annual income, using debt wisely, having term life insurance if one has dependents, having emergency funds personally...

Behind the Numbers of Self-Publishing: Profit First for Therapists Turns One In this Therapy for Your Money episode, host Julie Herres, an accountant and owner of Green Oak Accounting, celebrates her book's first anniversary, Profit First for Therapists. She discusses the comprehensive details of self-publishing a niche book, including the financial and time commitments required. Julie provid...

Finding Joy and Understanding Self-Love with Kasey Compton In this episode of 'Therapy for Your Money', host Julie Herres, an accountant and owner of Green Oak Accounting, talks with three-time guest Kasey Compton about her new book, 'In Search of You'. They delve into the journey of writing the book, its personal nature, and the process of self-discovery and vulnerability Comp...

Understanding Retirement Plans: Options for Business Owners In this episode of Therapy for Your Money we discusses the different retirement plans available to business owners. She details four main business retirement plans: traditional 401k, Safe Harbor 401k, Simple IRA, and SEP IRA. Julie outlines the benefits, limitations, and eligibility criteria for each plan, highlighting how these can align...

Unlocking the Power of Private Pay Practice: Expert Insights and Advice In this episode of 'Therapy for Your Money', host Julie Herres discusses the importance of private pay practices for therapists with guest Deb Legge, a mental health professional and business coach. Deb shares her experiences shifting towards private pay practices, emphasizing the importance of understanding value, t...

In this Therapy for Your Money episode, host Julie Herres, an accountant specializing in private practices, shares insights on creating a million-dollar therapy practice. She clarifies that a million-dollar practice generates gross annual revenue, not profit. She illustrates how practices achieve this, noting it involves robust systems around marketing and client acquisition, ongoing recruitment,...

In this episode of the 'Therapy for Your Money' podcast, host Julie Herres talks to mental health therapist and financial therapy practitioner Khara Croswaite Brindle. They discuss the prevalent issues of money avoidance and insecurity among private practice owners, often stemming from deeply ingrained beliefs and traumas about money. The conversation delves into the concept of 'nob...

In this episode of 'Therapy for Your Money,' host Julie Herres and retreat planning expert Patrick Casale delve deep into the world of retreats. They discuss strategies for successful retreat planning, including creating a detailed budget, understanding the true costs, setting realistic prices, developing effective marketing strategies, and offering add-ons such as CEUs (Continuing Educa...

Understanding the Implications of Hiring Contractors vs Employees in Therapy Practices In this episode of 'Therapy for Your Money,' host Julie Herres discusses the implications of employing contractors versus employees in therapy practices. She unpacks a recent ruling from the Department of Labor and its six factors for determining employment relationships. She emphasizes that legislatio...

In this episode, Julie Herres and her guest Davia Roberts discuss the differences between the nonprofit and corporate mindsets in the therapy field. They explore the challenges faced by therapists working in nonprofits, such as low pay, unrealistic expectations, and the guilt associated with prioritizing financial security. They also debunk the stigma around therapists transitioning from nonprofit...

Lessons from Successful Business Owners: Strategies and Habits for Profitable Practices Host Julie Herres discusses the habits and strategies common among the most successful business owners. She emphasizes not to equate the appearance of wealth with actual success. She suggests that successful business owners often do not overextend their resources but smartly use credit cards and plan investment...

Episode Summary: In this episode, Maira Holzmann and Julie Herres delve deep into the intricacies of managing finances in the world of therapy practice. They discuss the challenges and revelations they've faced, from reevaluating their perceptions of debt to the importance of joy spotting amidst the stresses of business. Maira shares her transformative journey with money, emphasizing the need...

How to Increase Your Income in Private Practice: Three Levers All Practice Owners Can Use In this podcast episode of Therapy for Your Money, host Julie Herres discusses levers that therapy practice owners can control to increase their income.  The first lever is the number of sessions provided by the practice, in which an increase should generate higher profits.  The second lever is the average fe...

During this podcast episode, the hosts discuss the shifting mindset from viewing intake coordinators strictly as administrative support to seeing them as essential salespeople in mental health practices. By redefining the role, conversion rates can increase, benefiting the practice and the clients.  When it comes to putting the right person in the role, it's important to hire someone with a s...

In this episode, Julie Herres, the host of 'Therapy for Your Money' speaks with Sarah Riley, the business development manager at Green Oak Accounting, about reimagining the role of an intake coordinator to work more like a salesperson. They discuss how a sales-oriented approach can significantly improve a therapy practice's conversion rates, making it more profitable. They also expl...

In this episode of "Therapy for Your Money," Julie Herres and Linzy Bonham discuss the various types of financial professionals that therapy practice owners might work with or encounter. They highlight the importance of understanding the roles and responsibilities of these professionals to make informed decisions for one's business. Bookkeepers and Accountants for Therapists The dis...

In this enlightening episode of "Therapy for Your Money," host Julie Herres dives into the crucial topic of embracing your full fee as a therapist and getting comfortable with it. She is joined by Alyse Freda Colon, a seasoned therapist with 18 years of experience in private practice.  Shifting the Mindset Around Fees Alyse encourages therapists to recognize the immense value they provid...

In this episode, we explore the intricacies of achieving financial freedom in the digital era with our guest, Adam Carroll. We discuss the changing dynamics of financial transactions and innovative strategies that have reshaped our relationship with money, making it seem less tangible and possibly affecting our spending habits. We also introduce the "Shred Method," a groundbreaking appro...

Welcome to Therapy for Your Money, a podcast dedicated to all things money and finance for therapy practice owners. I'm Julie Herres, an accountant and owner of Green Oak Accounting. With years of experience working with private practice owners, my goal is to share the best practices I've learned to help you build a profitable private practice. In this episode, I talk about starting your...

We've got an exciting new episode of our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the s...

Setting Effective Financial Goals for 2024 In this episode of 'Therapy for Your Money', host Julie Herres discusses tips on how to make 2024 the most productive financial year yet for private practice owners. She encourages listeners to evaluate previous successes and align future goals with their personal ambitions, focusing on both financial and non-financial targets. Additionally, she...

In this podcast episode, host, Julie Herres discusses the challenges faced by therapy practice owners. Topics covered include the ongoing trends of low referrals and low conversions in the fall of 2023, difficulty in achieving productivity goals, and the importance of tracking metrics and establishing robust financial systems. Julie goes on to recommend solutions that can improve the financial con...

In this enlightening episode of “Therapy for Your Money,” we had the pleasure of hosting Emily and Julie Herres. Both experts dive deep into the intricacies of state taxes, the importance of hiring tax professionals, and the potential pitfalls of self-preparation. Their insights are particularly valuable for those in the counseling and therapy fields, aiming to strike a balance between their passi...

On Episode 118, join our host, Julie Herres, and special guest, Jacquie Kiefer of Green Oak Accounting, for a guiding discussion about the fourth-quarter financial trends and challenges faced by therapy practice owners. In this captivating dialogue, they delve into issues that are impacting the industry's monetary climate, from dwindling referrals to the implications of accelerating inflation...

We've got an exciting new episode of our Live Stream Launch Party Series! On May 2nd, 2023, Julie released her book, Profit First for Therapists. We threw a huge online launch party with GreenOak Accounting team members, real practice owners who tell their stories in the book, and the original creator of Profit First, Mike Michalowicz to celebrate this exciting event. We wanted to share the s...