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Seven: Budgeting and Fiscal Management for Counselors

DOI:

10.1891/9780826127990.0007

Authors

  • Baker, Dana Lee
  • Smith, Allison Louise
  • Sharpe, Deanna L.

Abstract

Helping professions tend toward an ethic of self-sacrifice. Coming to terms with budgeting and financial management can be at best an afterthought and, at worst, anathema to the professional counselor. In the absence of independent wealth, failure to develop sound budgeting and financial management skills leads to stress, uncertainty, and, in the worst-case scenario, insolvency. From the perspective of fiscal management, distinguishing one’s work and becoming known among other professionals as a skilled and committed clinician is a key aspect of competition and collaboration. The degree to which clinicians are influenced by fiscal management in the orientation of their clinical practice varies, but can be an important consideration for beginning counselors as they establish a practice. Counselors often pursue therapeutic work because they find it intrinsically meaningful and personally and intellectually challenging. They do not consciously pursue the necessary skills to operate a financially sound psychotherapy practice while in training.