Let’s be clear, as therapists, most of us are intrinsically motivated to help others. We feel offended when people point fingers at us about the money talk because, trust me, we did not choose this career because we wanted money. We genuinely LOVE what we do.
Nonetheless, our profession is expensive and lengthy. We go to school for about least seven years. Not to forget, it is quite unlikely to find a scholarship for a graduate mental health program. The internship training is not financially convenient either. We pay pretty expensive credits to complete our internship. We have to cover all of our transportation expenses (I had to travel very far from home every day to get to my placement) plus our own liability insurance. Side note — the internship is unpaid. When we finally finish school, we jump into a meager entry-level salary (USD $40k/year, if you are lucky). And let's not get too excited here, because at this point, we are not even licensed yet! So this is when we must start our supervised hours, which can range from USD 80–120 per session. There goes 1/4 of our salary for the following two years. The licensure process also requires us to get money out of our pockets. I would say, at least, about USD 600. Finally, let’s not even go into details about student loans, because that will just make me want to cry a little.
When I say “therapists want to make money,” it is because we earnestly need an income to financially endure all the years in where we are not “distinguished” clinicians yet. Not to diminish our importance in any way, but let’s be honest — while we are not yet licensed clinicians, do not have enough years of experience, or have not started a notable practice yet, making a sustainable salary is a true challenge. I am 99% confident you are almost nodding as you read.
There are several ways in which you can create passive income streams to support your living expenses. I hope you can get some inspiration from this list that I created based on my personal experience and research. So let’s cut short the blah-blah-blah and get down to business!
IDEAS TO MAKE MONEY AS A THERAPIST
1. Use your intelligence and professional knowledge to create value in your community.
Create a Youtube Channel and educate people about your career path, job, or interests.
Become a mentor/tutor for students in undergrad/grad school
Create courses and workshops for sale in Udemy
Offer value and create your own community with Patreon.com
Start a podcast: Click here for an Udemy course on how to start a podcast
If you enjoy writing, write a book on Amazon KDP (no upfront costs!): Check out the books I am selling
Or get paid to blog for passive income: I recommend Medium.com
Become a consultant for therapists (ideas: marketing, private practice, social media, office design, etc…).
2. Use your community and expand your network. You never know where it will take you.
Reach out to schoolmates and alumni. Find out what they are doing, where they work, and how their journey has been since graduation.
Do LinkedIn searches. Explore what people with similar degrees are doing, and if you are feeling a little extra social, take a shot and message them. Do not be afraid, most people like to help. Some won’t answer, and what’s the big deal?
Use social medial to put your name out there. Instagram has a lovely mental health community that has certainly changed my life!. My best friend and I created a company that was born on IG and is not doing amazingly well!
In summary, find inspiration from others, connect, ask for help, and look for opportunities to be part of this field. You will never know what’s out there if you stay stagnant and afraid.
3. Think outside the box. You can make money in alternative ways while you are growing as a professional.
Do affiliate marketing. Sign up with companies that you like, and promote their services for profit. E.g., HelloFresh (here is $70 off to get you started).
Create a product and sell it — for example, Amazon FBA — private labeling on Amazon.
Find a product and sell it — for example, find a product in Aliexpress and drop-ship it via Shopify. Check out my Shopify website
If you like arts and crafts, get your Cricut already!
If you are computer savvy and hold a spark of creativity, get a Fiverr account, and provide digital services.
Invest in stocks: Check out Robinhood.com. Get free stocks for simply clicking here
Invest in Crypto currencies: Check out Coinbase. Get $10 in Bitcoin by just signing up with my link.
Learn to trade currencies — I recommend taking a look at The Currency Nomad
Let me know if you have any questions :)
I am happy to help
Your Hustler,
Daniela Marin, MS
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