Step One: Current Budget

I have provided some common budget items below, but please add your own. Get your bank statements out so you don’t forget any.

Enjoy!

Here's part one of how to use my website calculator:

Item Avg. Monthly Cost
Total (A):

Step Two: Rebel Budget

In this section I want you to think about all the things you may think you shouldn’t want, but you do. I know you have things in mind!

This is a section I want you to come to a few times because I guarantee the first time you come to this you won’t put everything in. .

I want you to REBEL against what you’ve been told, that therapists don’t/can’t make good money! You can and you WILL!

August month off in another country with your kids? Land Rover? Downpayment on that dream house? Killer retirement account? The $20k bathtub you want? Put it all here! You can add as many items as you want. Have fun!

Item Avg. Monthly Cost
Total (B):

Chapter Two: Setting Your Fee

Now we will add all of this together and do other math magic to come up with the magic number to charge your clients per session to live the life you dream of.

  1. Combine Total (A) with Total (B):
    Total Combined Monthly Budget:
  2. Multiply your Total Combined Monthly Budget by 12:
    Yearly Income before Taxes (D):
  3. Now we factor in a 30% tax rate, which should be more than sufficient, especially after all of your business expenses (keep those receipts for your accountant!). To get your yearly gross (before tax) income, divide your Yearly Income (D) by 0.7
    Yearly Gross Income (E):
  4. How many clinical hours can you work in a week to be your best, most rested, well-taken-care-of therapist self? How many weeks a year will you need to take a break for R&R? Remember 52 weeks minus how many weeks of vacation you want to take go in the second box.
    Hrs/Wk: (F):​
    Wks/Year (G):
  5. Multiply Columns F & G.
    Total Billable Hours (H):
  6. To determine your fee, Divide your total Yearly Income (E), by your Total Billable Hours (H).
    FEE:​

And there it is! You know how much you need to charge per session in order to live the way you dreamed about.

 

How Much Money Are You Leaving on the Table by Taking Insurance?

Edit the YELLOW cells only to find out the difference between being fully on insurance panels vs the potential income growth by being private pay.

Here's part two of how to use my website calculator:

Insurance Rate

Edit the YELLOW cells below to set your desired income and compare client load and hours required to attain your income goals and the impacts to work/life balance.