Episode 113: How Coaches Can Overcome Money Blocks & Build Wealth with Melissa Mittelstaedt
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Why Most Solopreneurs Fail at Finances—and What No One Tells You
Melissa Mittelstaedt doesn’t just talk money—she demystifies it. In this no-BS episode, Melissa unpacks what every solopreneur really needs to know about their finances—from why separating your personal and business bank accounts isn’t just a suggestion, to how avoiding your cash flow could be the exact reason your business won’t grow.
Lexie and Melissa dig into the emotional weight behind money, sharing why your financial habits likely stem from your childhood, and how to rewrite your story with small but game-changing shifts. Melissa breaks down the differences between financial consultants, bookkeepers, and advisors, and shares her go-to “money relationship scale” to help you measure where you’re at—no shame, just clarity. Plus: her top book recs for money mindset that don’t suck.
In this episode, we discuss:
What’s the difference between a financial advisor, a bookkeeper, and a financial consultant?
How do I separate my personal and business finances as a solopreneur?
What are the first steps to improving my money mindset?
Why is cash flow such a big deal for small business owners?
What books actually help with financial literacy for coaches?
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Learn more about Melissa Mittelstaedt Instagram: / _melissamitt
Website: https://www.melissamitt.com/
Here’s what you’ll learn - Time Stamps
00:00 – What’s Your Relationship with Money?
01:30 – Melissa Middlestadt’s Money Origin Story
04:50 – The Turning Point: How a Single Comment Changed Everything
07:45 – How to Actually Start Fixing Your Money Habits
10:02 – Best Books to Heal Your Money Mindset
12:00 – How to Use the Toxic-to-Comfortable Scale to Set Money Goals
14:00 – The Truth About Mixing Business and Personal Finances
16:00 – Business Bank Account 101: What Every Solopreneur Should Know
18:35 – Why Money Is Like Fitness: Don’t Skip the Reps
20:23 – When Should You Hire a Financial Consultant?
22:00 – Financial Consultant vs Bookkeeper vs Advisor: Who Does What?
24:00 – What Most Coaches Get Wrong About Cash Flow
26:30 – Homework Time: Rate Your Money Relationship
27:45 – Melissa’s Final Mic Drop
