Tackling Taboos: Your Guide To Feel More Confident Talking About Money
March 17, 2021Let’s face it: Money is a taboo subject. But it doesn’t have to be.
I’m sure you’ve heard a lot of limiting beliefs about money. The most common I’ve experienced are:
Money doesn’t grow on trees
Money is the root of all evil
You must work hard to make money
You don’t innately deserve money, you have to earn it
This way of thinking is rooted in childhood and takes time to unlearn. If you accept these at face value, you stay inside your comfort zone.
It’s safe to grow and expand and release beliefs that keep you small.
Why are these beliefs important to release? It’s what’s holding you back in life and business... from feeling fulfilled, creating an impact, and making six-figures (if that’s what you want).
If you’re ready to adopt a more empowering money mindset and kick outdated taboos to the curb, here’s your guide to feel confident doing it.
Don’t shy away from talking about money
Money is taboo because society doesn’t encourage us to talk about it. I want to change that!
At the beginning of my business, I kept dealing with projects that went over the budget we set in our contract. I was asked to do extra rounds of revision for free, which was outside of the scope of work.
And I couldn’t figure out WHY.
Turns out, it was because I was repeating patterns from my childhood. Not feeling enough, overachieving, constantly stressed, adding on extra work and to-do’s to feel busy and worthy… these were all life problems in disguise.
Rather than crawl into a corner and hide away from myself and these situations, I leaned into it. I explored why this pattern kept repeating for me. I also found people and spaces where it felt safe to talk about industry pricing, client budgets, my rates, and so much more.
There’s nothing quite like talking with your partner or your peers to get over the initial fear of “Damn… This is uncomfortable.”
It’s one thing to discuss money with your friends and another to feel confident when talking with a future client. Let me share what helped me.
Make it a habit to ask about budget
My biggest tip when it comes to getting comfortable talking about money is to ask about your client’s budget.
It can be as simple as, “Do you have a budget in mind?”
Or you can take a page from my playbook! I have a drop-down menu on my New Project Form that states a budget range. I also always discuss their budget in the discovery call. Additionally, I require a 75% deposit upfront and a signed contract, which locks in the rate.
Long story short: I always talk about budget.
Why? It immediately helps me get a sense of where the client’s head is at. If you don’t talk about it, you have no idea what they’re thinking. When you address the topic of money directly and with confidence, people will honor your value more than just your time.
If you’re wondering whether it gets easier, the answer is yes! Your confidence builds the more you practice and speak it out loud. I highly recommend role-playing with someone you feel at ease with so you can practice handling objections and stating your rate with conviction.
Get comfortable now so when it’s time to increase your prices or set real minimums on projects, you’re not scrambling and scared.
Since transparency is a core part of my business, I’ll share my own minimum pricing for common projects at my design studio, White Coffee Creative. For example:
I like to reflect on my rates at least twice a year to see if the value I provide is worth more than before. If these prices made your jaw hit the floor, the next tip I have for you is a good one.
Adopt the Holy Fuck Pricing mentality
Holy Fuck Pricing is my way of raising the industry standards for designers, muralists, and creatives. It’s about empowering you to feel good about your rates and not undersell your services and what you bring to the table.
A lot of people are hesitant to open up about pricing. I remember DMing people on Instagram to try and talk about it. The result? People shut me down.
Now I understand how beneficial it is for me, you, and the design industry, in general, to open up about money. It’s not something to be afraid of or avoid. It’s a tool… an energetic exchange.
The more you practice talking about money and the more you push yourself to understand where your fear or anxiety around money comes from… that’s how you build confidence. Growth doesn’t come from your comfort zone.
If you’re ready to get comfortable being uncomfortable, join the Holy Fuck Pricing Facebook Group. It’s your safe space to open up about money, pricing, and limiting beliefs holding you back from making an impact.
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