Episode 113: How Coaches Can Overcome Money Blocks & Build Wealth with Melissa Mittelstaedt

Written By Lexie Smith

Listen on Apple Podcasts / Listen on Spotify / Access Transcript on Buzzsprout / Watch on YouTube

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?


Join the Ready Set Coach Community: https://www.readysetcoachprogram.com/

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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

 

Lexie Smith
Next

Episode 112: Should You Sell a Course or a Low-ticket Offer? (The Reality of Selling Courses for Coaches)