The speaker runs two businesses: a nonprofit called a community interest company, which is a hybrid of a regular company and a charity, allowing for grant funding and trading without dividends or shareholders.
The nonprofit focuses on financial coaching and education for people with limited financial resources.
Additionally, the speaker works as a sole trader, providing private coaching to clients who have the financial means to pay for the services.
May is passionate about the concept of the nonprofit and specializes in supporting people with neurodivergent conditions like ADHD or anxiety.
May has complicated feelings about charging people for help with money, especially because those who need it most are the least likely to afford it.
May is considering a subsidized model for her private work or bringing her private work into the nonprofit to fund and subsidize the nonprofit's work, but she feels guilty about paying herself a low salary.
May believes that if she stops struggling financially, she won't be able to relate to her clients, who are often on social security benefits, and she won't be good at her job anymore.
May explains the complex system of benefits in the UK and how her eligibility is based on her son's health condition, which is expected to change in a few years, leading to the need to increase household income quickly.
May is facing a challenge with her health problems, raising a child, and the need to bring in enough money in a compressed amount of time.
May is concerned about losing assistance if she makes a lot in her business quickly and also being ineligible if she has too much in savings.
May charges 65 pounds for a monthly coaching session, slightly more than what she pays her therapist, and feels guilty about it.
I have a certificate as a money advisor, which is regulated but not the same as a financial advisor.
The work I do is therapeutic, but it's not a replacement for therapy.
I don't feel comfortable emphasizing my specialization in the emotional side of money due to lack of official recognition.
May has professional experience in providing money guidance to survivors of domestic abuse, which organically appeared in her life.
May helps clients with deep feelings and trauma related to money, providing them with a sense of relief and understanding.
May struggles with the idea of charging for something that comes easy to her, feeling that things should be hard before charging more.
May has a habit of creating deliberate chaos and struggles to accept stability and peace in her life.
May's homework includes:
  • Noticing moments of peace and stability,
  • Considering raising her coaching rates for the new year.
    •
    Raise your rates starting in January, five pounds, to existing clients.
    I would suggest raising your rates 10 pounds to new clients.
    You can also say in your rate increase letter or email that the rates for brand new clients are going to be more.
    Your work is valuable. Maybe that's even a mantra that you begin to say, you know, I deserve to make money.
    May expresses feeling like she's saying other people who aren't making money don't deserve it. Kristin points out that there's always going to be someone doing better financially and someone doing worse.
    May admits to focusing on feeling bad about doing better than people and ignoring those who are doing worse. Kristin highlights the importance of letting go of the old script of struggling alongside others and suggests deep exploration to disengage from it.
    It's about raising your rates and acknowledging the value you bring to people.
    The passive income course is a good use of your energy and time.
    Getting support to bring the course to fruition may be valuable.
    Kristin encourages May to make a list of to-do's for her course and reminds her that she doesn't have to do it all right now.
    Kristin advises May to acknowledge moments of peace and solidity, and to rest in the life she's consciously choosing to create.
    May reflects on the discomfort of being alone with her thoughts and acknowledges the need for emotional and mental rest.
    Kristin emphasizes the importance of rest and recalibration for May's new level of work and encourages her to step into peace despite discomfort.
    Kristin reassures May that she has the right to rest and encourages her to be with herself, acknowledging her deep-feeling self and the inner part that longs for her.