In this episode, Bill Betts talks openly and honestly about something many pet groomers struggle with: money mindset. If you’ve ever felt awkward about raising your prices or unsure how to manage your finances, this episode is for you.

Bill explains how the way we think about money, often shaped by how we were brought up, can affect how we run our businesses. When we don’t value ourselves properly, we’re more likely to undercharge, feel stressed, and get stuck in a cycle of burnout.

He shares stories from groomers he’s worked with who’ve made big changes by working with money coach Fanny Snaith, including how simple tools like budgeting with savings pots can make a huge difference to your confidence and control around money.

This episode is all about learning to see money as a tool, not something to fear or avoid. When you start taking control of your finances, you take control of your business and your life too.

💬 Key Takeaways

• Your mindset around money matters. The way you think about money affects how you run your business.
• It’s okay to charge your worth. Undervaluing your services only leads to stress and burnout.
• Budgeting helps. Using savings pots for different goals can reduce anxiety and give you more control.
• Talk about money. Open chats in a supportive community can make things feel less scary.
• Money brings freedom. When managed well, money becomes a tool to help you build the life you want.
• Find joy in finances. Building a healthier relationship with money can bring more happiness and balance to your life.

As always, I'd like to thank the podcast sponsor, Lopay, the low-cost payment platform that helps you keep more of the money you earn!

You can find out more and sign up for Lopay here: https://merchant.lopay.app/ref/PETPASSION2500, where listeners of this podcast get £2500 of fee-free transactions!

And of course, if you feel like you could benefit from Bill's business programs for the Pet Grooming industry, visit our website: https://petpassiontoprofit.com/

Welcome to the Pet Grooming Business Podcast.

With me, Bill Betts, where we give.

Practical business advice to help you grow your pet grooming business.

This podcast is sponsored by Low Pay, the low rate payment app that gives you more.

So without further ado, let's get going.

Hello and welcome back to this next episode of the podcast.

I hope you're well.

If you've only just started listening to this podcast, please make sure you go and investigate all the episodes that went on before because there's so much for you to listen to.

The very first episode I did on this podcast was very intentional and that was all about imposter syndrome because I know so many of us, me included, and I've been on an imposter syndrome journey, have suffered with imposter syndrome.

But don't worry, it can be resolved and you can work on it.

So make sure you go all the way back to episode one and listen to as many as you can.

I know a lot of groomers out there, listen whilst they're grooming and, and then go back and listen again to episodes that they've enjoyed.

So please make go, please make sure you go back and have a look at the other other lessons and podcasts out there from episode one.

Some exciting news I want to share with you in a minute, but before that I just wanted to say thank you for those that that nominated the podcast for all myself Podcast of the Year.

We're coming to a conclusion.

I think the awards is in October.

So if you get an opportunity, please go to the Liz Paul Awards page and give us a little vote.

That would be really nice.

And if you can, wherever you're listening to this, whether it be Spotify, Apple or Amazon, wherever you're listening to this podcast, please, please, please just give us a little review because then that helps other pet groomers to come and find you.

I've got some exciting news to share with you as well.

I am in talks with a shampoo company who want to offer you, yes, you, the listeners, some money off their products.

So keep an eye out for that.

I'll be announcing that in another episode and we together, the discount codes and everything like that, ready to go out.

And we're going to be inviting the owner of the shampoo company onto the podcast as well so that you can get to know them.

I really like that, you know, I want to work with companies or I like it when companies are willing to put forward their sort of their CEOs or their owners to come on to the podcast and actually talk about Their products, talk about their passion, talk about why, why they've really sort of passionate and want to make these products for groomers.

So I've invited the director on for this and we're all sorting that out behind the scenes.

So keep an eye out for that.

Now, this episode we are going to be talking about money mindset, helping you to find a balance in business and life.

So when I designed the pet groomer business program, we ran it for six months to a year and I very quickly realized that, you know, sometimes you just need to reflect, don't you, on things that you do that we obviously we're running small businesses and small, and your businesses are very linked to your personal finances because they're so small.

But also our money mindsets can make such a big difference to our businesses as well.

So obviously.

And again, if you went back some episodes or throughout the years, we've had a couple of episodes with our money coach, Fanny Snaith.

So having worked with Fanny and got to know her, I asked her to become an associate coach on the pet groomer business program.

And my thought process around that was if I'm helping pet groomers to make more money within their business, then I want to help them to manage that money in their personal lives or if groomers are struggling in their personal lives with money, I want to make sure that we can help reduce some of those stresses and some of those worries and then that will free up more headspace for the business or there's quite a few reasons really.

If we have a poor money mindset, as in, you know, charging our worth and not understanding our numbers and our figures, then how are we going to translate that over into business?

How are we going to have a smashing business if our own money mindset is very poor and you know, funnies come, come in and she absolutely loves working with the groomers on the, on the program.

It's given us so many ideas as well around her own products and, and what she offers and, but I, I, I chat to her quite a bit and she absolutely loves helping and she has made some significant changes to people's lives when it comes to, to money.

And I, I think sometimes that's reflected in some of the feedback that we get from the program members.

So yeah, we're going to be talking a little bit about money diving into that topic because I think most groomers probably struggle at some point with money mindset and I think this is really important to touch on.

It's not about numbers and spreadsheets.

However, I will Say that this month I reviewed my spreadsheet for my.

For our household and made some tweaks.

I've added some extra pots to our savings.

Things like silly things like dentist.

You went to a dentist the other days.

It's a lot of money these days going to the dentist.

So I've created some saving pots, haircuts, things like that.

And you might think like, these are all sort of small things, but sometimes these are the little, like, things that you get done which sort of have a real impact on your finances.

Like going to see a dentist every six months.

If you're not saving for it, where'd you find that money?

Well, maybe sometimes that money goes onto the credit card, and that's not.

Not what really want, where we want to be.

I've.

I find that if money goes onto my credit card, it can take some time to get off my credit card again.

So I'm putting an end to that.

I'm putting a line in the sand and I'm creating pots to sort of save money for that.

So we are, we're not going to be talking about spreadsheets and stuff, but that's just wanted to give you a bit of an insight into how spreadsheets help me sort of budget and help our sort of household finances as well.

But money mindset is also about reducing the stress.

One of my missions and one of my goals is to get people into a place where money is no longer controlling them, but they are controlling their money.

And then from that place where we have control of our money, we then my, my mission is to help people to make that money work hard for them as well.

Okay.

You groomers, you work so hard.

Blood, sweat, and very often tears poured into your business.

And I do sometimes sit on zoom calls with groomers, and we, we shed a little tear when we were talking about how hard it is and like, how little reward.

You know, I'm talking to business owners that have got staff, they're running busy salons.

And when I asked the question, well, how much salary do you actually take?

And quite unfortunately, quite often the answer is none or very, very little.

And we're paying our staff, like, money, and we're paying our staff salaries, but actually, as the business owner that's sort of running the business, taking the risk, doing the marketing, doing the grind, they're actually taking any, any form of salary.

And that does make me feel quite, quite sad at times for, for these people.

So that sort of helps me move forward and it makes sure that I sort of stick to My goals, and that's to.

To make sure everyone's.

Everyone's, like, controlling their money and not letting money control them.

So I wanted to talk a little bit about what happened last night, and Fanny Snaith had a usual coaching call with our clients on a Tuesday night.

She does one once a month.

And I was just reading over the summary of it and looking at what went on, and it's really interesting.

You know, the session was all about money mindset and using pots and pot anxiety and stuff like that.

And, you know, it does depend on people being vulnerable and being open and honest.

And we've built this really strong community where, you know, the groomers get together on zoom and they chat these problems through.

And I think that's really important as well, because sometimes for money mindset, I know there's clients that I work with that sort of say to me, I've never in my adult life discussed money.

Parents always sort of told us not to discuss money.

I don't discuss it with my partner.

I don't discuss it with my children.

And again, that's one of my sort of drivers is I want that to kind of stop.

Because if we're not talking about money, if we're hiding money away, it can.

It can create real problems in our.

In our lives, real problems in our relationships.

And most importantly, if we do have children, we're not teaching them going forwards as well.

So one of my clients said to me a few weeks ago, okay, Bill, you know, we're doing a lot of work on my debt, and we're doing a lot of work around, you know, getting rid of debt.

And sometimes I just think, like, what's the point of all this?

I'm, you know, we're in our mid-40s.

I've got, like, a couple of years of debt to pay off.

What is the point?

Why can't I just go out and enjoy life?

And I kind of thought about that, and I have this kind of thoughts as well.

You know, life's there for.

Life's there for living, and you can't take it with you.

And all those sort of talks, all those sort of sayings that we have from people around us.

But I suppose my.

My comeback to that was.

And it's something that I'm also working on with my children is, okay, well, maybe if we don't want to do it for ourselves, if we don't want to, like, pay off our debt and get control of our money for ourselves, but we have children, then surely we owe it to our Children to learn about money and to make sure that they understand money and they don't live the life that we've lived with like maybe debt and finance and stuff.

Is there a different way for them to live?

So they're certainly not getting this education in school, that's for sure.

Well, mine haven't.

My 16 year old and 12 year old haven't had that education at school yet.

So I think it's down to us.

So one thing that I'm doing is I'm showing my, my children how I invest my money in the stock market, I'm learning to trade the forex markets and I'm, I'm trying to help them, encourage them to go into trading themselves so that they're not a slave to wages.

You know, my son has a job and we kind of like jokingly tax him some of his wages.

He works in a pub, but we put that into, into an isa, which is then invested in the stock market.

And I kind of show him the, the compound interest calculator.

And if he saved 200 pounds a month, every month from his 18th birthday to when he' he'll end up with like a couple of million pound in the, in his investments due to compound interest.

This is like the stuff that just isn't being taught, is it isn't being taught.

And we haven't as adults, we've not been taught either.

So you might be sitting there thinking, oh my God, what is he talking about?

And isn't, isn't it, Isn't this all whiskey?

Isn't this all like, I'm scared to lose my money?

And that's part of our, our money mindset, isn't it?

That's part of our money mindset.

So.

And that's where I went off and got education around that, you know, parents, family might have sort of said, oh, you don't want to do that, it's really risky and don't put your money here and don't do that with your money and blah, blah, blah.

But that's where I went off and got education from people that do do things like investing, that do have wealth, that do work on their wealth creation.

And that's one of the lovely things that I love working with Fanny Snade is because, you know, she's done it, she's there, she's got the wealth, she knows how to build it, she knows the discipline.

She, she's trained in helping us with money mindset.

She's trained in the coaching side of things as well.

She's very challenging at times as well.

You won't always get a nice answer when you go to Fanny with a question, but sometimes we need to hear that, don't we?

We need to hear that uncomfortable answer.

And I see that as one of my roles as a coach, and I did it this week.

There was an elephant in the room when talking to a client.

I'm like, we got to address this.

We've got to address why your business isn't working as well as you as you hoped it is.

And one of the issues was actually like, some staff, some staffing issues.

And I was like, I know it's hard, but we've got to address this.

And I've got to tell you, like, this is what's going on in your business and this is why you're finding it so hard to make money.

So, yeah, sometimes coaching comes with having to.

Having to listen to the hard answers and having to listen to the, to the, to the uncomfortable truths and having to take uncomfortable action as well.

This podcast is sponsored by Low Pay.

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But I think I've just digressed a bit there.

But yeah, so we're sort of just looking over what happened last night on our coaching call with Fanny Snade, and I just wanted to give you a bit of an insight as to what you.

You would get if you came and joined us on the program.

But we had groomers on there talking openly about their struggles, like trying to build savings buff, but like constantly having to dip into it or feeling behind that.

They were talking about the guilt that they, that they suffer from when spending money on themselves, paying off debt, but still not feeling any freer.

So those were some of the things that were discussed last night.

But again, these are the topics that you probably wouldn't go down the pub or to the, to the local.

You know, you wouldn't go to Grooming Fest with your friend, your grooming friend and start discussing debt and savings, investing and, and how difficult it is paying off debt and stuff like that.

Many.

I doubt many people would actually do that, but this is why it's so powerful, because there'll be people sitting in that, in the Zoom room on the Zoom call thinking, yeah, that's me.

They may not necessarily feel confident enough or comfortable to share that.

But even just having that conversation and listening to other people saying, yeah, this is how I feel.

This is how well I am at this is what's going on with me.

You know, that's reassuring in itself and it's really powerful, really, really powerful to share.

You know, a problem shared is a problem halved as they say.

So that's where the, the, the groomers are getting real value from that.

So one of the lessons that was discussed last night was about using the challenger banks like Starling Monzo.

I'm not sure if metal that you do that but breaking down your, your, your finances into different pots.

So like a growth pot, a fun part, a rainy day pot, an energy pot, even a debt pot to start to budget, separate your, separate your money and separate out where your money's going to.

One of Fanny's sayings is that give every pound of a purpose.

So it's something that I'm sort of working on with my, my money sort of journey but it's not, I think people think sometimes it's they need to have big pots but it's not about the size of the pots, it's about how they're working for you.

So something that I asked, funny to sort of look at is like pot burnout where you know, the money comes in and we allocate all of our money into separate pots but sometimes you look at that and you're like oh it's such a long journey.

And obviously something that we need to be aware of is the burnout sort of issue.

So if you're putting every spare penny into bills or debt then we need to look at that and you need to start thinking about, well we need to allocate some money to some fun pots or some energy pots or a holiday pot, start saving for holidays, something again.

When I was working on finances the other day, I've created a house sitter pot so that when it comes to taking a holiday or wanting to go on holiday we've got the spare money there just to say to, to book a house sitter and then not have to worry whilst on holiday thinking right, I've got to pay the house sitter some money when we get back.

Where am I going to find that from?

Because inevitably not a lot of house sitters probably take credit card, maybe I should give them a card link, card machine link.

So you know, balance, it's all about balance and it's about the longer term game, isn't it?

So one of the groomers shared how paying off debt had boosted her energy levels, you know, but also left her fun pot quite small.

And debt, you know, I always say debt can be really quick to get into and can take a very long time to pay off.

And another groomer sort of saying that she was working so hard on her buffer savings that it became a source of stress.

And that's not what we want.

Your buffer pot is there to relieve stress when?

Maybe September, like a lot of people saying, September is quite quiet when it comes to grooming.

Having a buffer there is there to relieve some stress.

So it's about understanding that to book many to many of these pots that you put in place are going to take a long time.

Okay, we, we have a buffer pot of around £20,000 in our business, but that didn't happen overnight.

That was a combination of savings.

We got some money from the insurance company during COVID So it's about being intentional, really.

It's about being intentional and having a pot to start with marked out as a buffer and then start growing it slowly.

And it will take some time.

And we Recommend sort of 3 to 6 months worth of expenses within your buffer pot, but that will take some time to do.

But the intention is there and you just build it slowly and start.

Keep dripping into it.

And if you can automate into it, that's even better.

One of the big ones was, you know, debt is like a tool, but it's not a verdict on who you are.

So it's like, don't feel bad about being in debt.

You know, don't feel like you're, you're.

You failed because you were in bet in debt.

Okay, don't give your power to that, to that.

You've got to obviously say, well, actually, I was never taught about this.

I didn't understand and what debt was and what happened or sometimes personal circumstances, maybe a family separation or something like that has, has meant that you had to go into debt.

But now's the time to really sort of have a look at that and explore how we can move, move forward from that and make those decisions.

To be in a place of freedom rather than fear and, and get in control.

And something I always say is like, action beats anxiety.

That's a saying I was given by one of my.

So.

So, yeah, so some of the takeaways from last night's lesson was looking at pots.

So using the Challenger banks to design some pots, fun pot, growth pot, energy pot, whichever you'd like to say, a rainy day pot or a buffer.

And this, these pots are important for your business and your personal life as well.

But so always make sure.

One of my top tips is you separate out your bank accounts so you have one bank Account for business and you have one bank account for your, for your personal life as well.

Don't mix them up.

Especially if you have a bookkeeper.

I always remember Vicky saying like as a bookkeeper or an accountant, if you've got one account which deals with all your finances, your accountant stroke bookkeeper is going to see what's going through your, through your bank accounts as well.

And they found some interesting items going through bank accounts.

So again, always good to have that separate bank account for your business and separate one for your personal life.

So think about like setting some goals perhaps, but not putting too much pressure on you.

But you know, again, to set goals you need information.

So you've got to start looking at, writing down, you know, where, what is your debt, how much is it, how long have you got left, what percentages are, is that debt?

And start kind of like it's a bit of ownership, isn't it?

And then some.

Again, I've had clients say to me like, I've done my, I've done the work around my money and I'm actually quite shocked at how much money I'm paying to ubereats or just eat sort of thing.

So it's there to really shock you a little bit, but it's also there to motivate you and it's there to make sure that you understand what's going on within your finances.

And that knowledge is obviously power, isn't it?

We can start moving stuff around and start moving forward to that.

So, you know, don't focus overly focus on debt and saving, but also focus on the joy side of things as well.

There's got to be a real balance and remember that like paying off debt is a long term plan.

Saving your buffers and saving money is also a long term plan, but it's a balance with also putting a plan in for Joy as well in holidays and may.

Write down what your joy is.

And maybe this is a good idea to go and revisit the podcast that we did about Joy of Rachel and just like think about what makes you happy.

And something I highlighted on that podcast was just opening the door of my office and listening to the birds and filling up the bird feeder and watching the birds feed on it during the day whilst I'm working that you've got to invite Joy into your life.

You can't wait for Joy to come and find you.

It won't come and find you.

You've got to invite it.

So I recommend you go back and find the podcast with Rachel all about Joy and Listen to that as well.

Try start writing things down.

I find that really helped me.

I was in my 20s, I was struggling with my money mindset and I started writing everything down like I did create a spreadsheet and I started writing down our income, the bills, the debt and stuff like that.

And it has really helped me to understand what was going on.

Fannies also encourages people to write down things that they're grateful for each day.

I kind of have a vision board to sort of focus on.

Our other mentor, Robin Waite has like a gratitude story all about his life that he reads when, when, when he can to sort of remind himself of the great things that he's achieved and the great things that he has in his life.

And I think again, we have a negative bias within our mindset that we quite often focus on the negatives and again we have to remind ourselves of the positives.

So by writing things down that you're grateful for each day and I'm sure some of you out there will be doing this, it's really amazing at how simple this practice can shift your, your mindset but also shift your money mindset as well.

So that would be a really good thing for you to do.

So yeah, it's not the, the money mindset side of things is I feel it's really important for your personal life and for your business as well.

And that's why we kind of focus on it within the program.

So I like, I just wanted to highlight really that, you know, the program is not all about marketing and pricing and add ons and putting your price up.

Putting your price up.

There's so much more to it because I kind of see it as like a, it covers everything really sort of covers things in your personal life and in your business and we try and look at all kind of avenues when it comes to, to, to life.

I suppose I've already mentioned that too many times.

But yeah, if you hopefully you've taken away some real sort of positive action steps from this.

Just have a think about, you know, let, let it settle in.

Maybe listen to the Ramble again and make some notes, but just let things settle.

Go back and listen to the podcast I've done with Funny Snaith.

Go back and listen to the podcast I've done about imposter syndrome and also about joy.

There's, there is the balance out there and you can do this and you know, go and read the reviews, go and read the case studies.

There are, there are groomers out there that are really turning their lives and their businesses around with our our help and support.

If you're interested in the program, this isn't a sales pitch but obviously if you're interested in in the program then please just go and click the link in the notes or go to the website www.petpassiontoprofit.com Let me know what you thought about the episode.

I'm always open to feedback.

My My DMs are open.

Like I said please leave a review to make sure so that I know that I'm doing a good job helping you and yeah take some action.

Let let this all sink in.

Go and have a listen again and then take some action and I'll see you in the next one.

Take care.

I hope you have enjoyed this one podcast.

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Like or a review to help people find it.

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