Season 5, Episode 7: How do I get comfortable with the money?

Tania Huddart: It took me a very long time to get comfortable asking for money for my services. To be honest, I know many of us feel that slight discomfort. But remember this. If you don't get paid for your services, you can't offer them. And then nobody gets helped.

Host: Welcome to Build Confidence and Purpose with Pilates. I'm here with Tania Huddart: Pilates teacher, teacher trainer and author of Teach Pilates with Confidence and Pilates & Purpose. Both voices you'll hear are made with AI. Every word Tania says is her own, and she's approved each one.

Last episode, we turned clarity into a plan. Every plan has money underneath it. How do I get comfortable with the money?

Tania Huddart: By starting with the part that isn't numbers. Most of us carry a story about money. Often it's an old one. And it gets in the way long before the spreadsheet does.

Host: Let me be the sceptic. Isn't money mindset a bit fluffy? I just need more clients.

Tania Huddart: More clients won't fix a story that says you don't deserve to be paid. You'll just undercharge more people.

So I start with permission. Give yourself permission to let go of your past money mistakes. Those mistakes often push us into a negative mindset, and that stops us earning what we deserve for the work we do.

Host: How do you actually let go of them?

Tania Huddart: Grab a pen and paper and write them down. All of them. What have you done that you wish you hadn't? Maybe you're sitting with a beautiful handbag, and you wish the money was in the bank instead.

Then ask why it happened. Most of the time there's an emotional reason. Were you feeling down? Angry? Did you need a pick-me-up? Once you see that, you learn something. Next time you can think, "Just because I feel this way doesn't mean I have to go and buy another handbag."

And then forgive yourself. The regret is heavier than the handbag. If you carry it with you, it won't help you step forward.

Host: And after that?

Tania Huddart: Start changing the voice in your head. Write down some money affirmations. "I deserve to earn the money that I do. I deserve to be able to pay my bills. I work hard to afford my life." Put them where you'll see them every day, and say them out loud. It helps to hear yourself say it.

Then look at the people around you. Some people don't share your vision. You don't have to cut them out of your life. But you can spend less time with them. If you're out for dinner three or four times a week, could it be once? Go for a walk on the beach instead. Invite friends over for a coffee. Tell them what you're trying to do, and ask for their support. The people who love you will help.

Host: OK. The practical side. Where do I start?

Tania Huddart: Get organised. It's one thing to want to make more money. You also need to know where everything is.

Get some folders. One for your bank documents. One for loans and debts. One for your tax and investments. And put your important papers, like your will, somewhere safe. I'd suggest a small fireproof filing cabinet that locks. If your records are on the computer, keep separate files, and back them up. How long you need to keep records is different in every country, so check the rules where you are.

Host: And then a budget, I'm guessing.

Tania Huddart: First, a dream. Make a list of what you'd do if money were no issue at all. Now, I know it's tempting to write down three yachts and six Bentleys. Be a bit more realistic than that. What really makes your heart sing? Then put that list in order, and hold it up against your core values.

If family is the most important thing to you, does the big studio give you more time with them, or less? That's the check.

Then look at what you actually spend. Go back three to six months and put it in a spreadsheet. You don't need every item. Lump the coffees and lunches and takeaways together. Then for the next thirty days, check your spending every day. Look for what you could do differently.

Host: This is where I give up my coffee.

Tania Huddart: No. None of this is about going without. Maybe you buy some beautiful ground coffee and make plunger coffee at home three days a week. You still get the thing you enjoy. You just don't buy it seven days a week.

For the budget itself, there's a simple split I love. Fifty, thirty, twenty. Take the money you have after tax. Fifty per cent goes on what you need, like your bills. Thirty per cent on what you want. And twenty per cent into savings. It's beautifully simple. Then plan each month ahead, for the car service or the birthday party you know is coming.

Host: What about savings, and debt?

Tania Huddart: Build an emergency fund. It has saved my bacon more than once. All of a sudden you need to find the money for the dog's vet bill, and it's there.

But if you have high-interest debt, like a credit card you don't clear each month, pay that off first. Pay more than the minimum, even a little. Set up automatic payments so you never miss one. And don't stretch the timeline out. That works in the bank's favour, not yours. When the debt's gone, keep paying that same amount into your emergency fund.

Then I think in buckets. One for each goal, short, mid and long term. Even if it's only ten dollars, that's ten dollars closer.

And when you reach a milestone, celebrate. It doesn't have to be champagne and a big party. A walk on the beach with a friend. A coffee. Maybe the handbag you've actually saved up for this time. Everyone's situation is different, so talk to an accountant where you live.

Host: We've talked a lot about spending less. What about earning more?

Tania Huddart: The first question is simple. Have you raised your rates in the last two years? No? Then it's time. Two years is too long. Within the next thirty days, send your clients an email. It doesn't have to be emotional. Keep it simple. Tell them what's happening, and give them the key dates.

Host: And beyond the rates?

Tania Huddart: Look after the clients who already love you. They'd love a reason to support you. For years, I ran hour-and-a-half workshops for my clients. Pelvic floor, breathing, lower back care. Each one came with a fully illustrated manual. We'd work through it together, and they'd take it home for their own self-care. They got real value, and the studio earned a bit more.

When we all had to go online with COVID, I did a six-week course called Travel Around Your Body. Once a week, a different part of the body. Posture, breathing, feet. People loved it. And because I did the work up front, I can run it again.

Host: And the body butter? I've heard there's body butter.

Tania Huddart: There is. In my studio I sell body products I make myself. I grow the flowers. I make the infused oil. Then I turn it into a body butter or a healing salve. It's a bit like cooking, which I also love. That's a small sideline, and it comes from something I enjoy. Yours might be sewing bags for people's Pilates things. Whatever you're good at.

And if things are tight, there are other ideas. Sell what you don't need. Do you really need two rice cookers? Or, if your studio space is costing too much, could a room at home become your studio for a while? I don't want anyone stressed by this. They're ideas, not instructions.

Host: And pricing itself? A lot of us still freeze when we say the number.

Tania Huddart: We went through the pricing template in the first season, so I won't do it again. But here's the part that sits underneath it. A lot of people price on emotion, not on facts. And numbers don't have emotion. That's the great thing about them. They show you the reality of your situation.

Then practise saying your price out loud. Picture the client in front of you. "Lovely to work with you today. The session today is seventy-five dollars. How would you like to pay?" Say it until it's easy. It's the same skill as cueing. You practise until it sounds like you. And whatever number comes to mind first, you probably aim too low.

Host: And when someone says, "Why are you so expensive?"

Tania Huddart: It's happened to me. I just say, "With all due respect, this is what I charge, and it's not up for discussion." If they're not comfortable, they're welcome to go somewhere else. The people who quibble over price are usually the ones who give you the most runaround. So never apologise for your rates. Your price is a number, not a confession.

And if someone tells you you've got the best price in town, you're undercharging.

Host: Three things to take away?

Tania Huddart: One. Write down your money mistakes, learn from them, and forgive yourself. Then look at the numbers without the emotion.

Two. Get organised. Know what you spend, build an emergency fund, and pay off high-interest debt first.

Three. Raise your rates if it's been two years. Practise your price out loud, and never apologise for it.

Host: And the question to sit with?

Tania Huddart: When did you last raise your rates? And what story have you been telling yourself about why not?

Host: Everything we talked about today is Chapter 16 of Tania's Pilatespreneur Academy, Strategic Direction, along with the Pricing lesson in Chapter 21, Customer Management. You'll find it at taniahuddart.com slash academy.

Next episode: how do I protect what I've built?

Tania, last word?

Tania Huddart: Money buys opportunity. The more comfortable you are charging what you're worth, the more you can offer the people who come to you. And the more likely you are to still be there for them next year.