367: Money Matters & Budgeting with Jenifer Parker 

How do you feel about budgeting and money as a yoga teacher? What is your system for tracking income and expenses – is it working? How can you decrease your expenses and/or increase your income? These are some questions Jenifer Parker answers in this insightful money conversation.

Jenifer Parker has been a yoga teacher for more than 21 years and is a qualified instructor in 4 lineages: Kripalu, Sivananda, Krishnamacharya, and Thai Yoga. She meets students where they are, teaching a traditional, integrated approach. In general she teaches within the Krishnamacharya lineage, but offers a unique insight into the similarities and differences in practice across lineages. Currently, she offers private lessons, corporate and private group classes, and a few public community classes in Te-Whanganui-a-Tara, Aotearoa (Wellington, New Zealand).

In this episode, Shannon and Jenifer dive deeper into money matters and budgeting for yoga teachers. Jenifer explains how to get consistent with our budgeting, how to adapt it to our needs and our yoga business, and why it’s so important for yoga teachers. She also shares some ideas on how to make more money as a yoga teacher and tackles some big mindset blocks yoga teachers may face when it comes to money issues.

Key Takeaways:

[0:28] Shannon takes a moment to recognize the harm that is taking place in Palestine right now.

[4:13] Shannon briefly talks about her topic and guest for the episode.

[5:15] Shannon introduces herself and gives a shout out to the sponsors, OfferingTree and Pelvic Health Professionals.

[8:47] Kathleen Pratt shares a little about the ongoing online yoga series, Nourish Your Nervous System.

[10:13] Shannon introduces her guest for this episode – Jenifer Parker.

[15:49] What does Jenifer do and who does she do it for?

[18:36] Jenifer shares a little about where she is located.

[19:44] Why is Jenifer so passionate about talking about money in relation to teaching yoga and being a yoga teacher?

“It’s OK to make income teaching yoga.’ ~ Jenifer Parker 

[25:47] What are Jenifer’s thoughts on budgets?

“It’s really helpful if people can actually sit down and look at the numbers and then make for themselves a clear decision. Is this something that I want to do full time all the time or is it something that I just wanna do sometimes?” ~ Jenifer Parker

[32:04] What kind of tools does Jenifer use when it comes to creating a budget?

“Let’s talk about different ways of approaching the financials of this business that are based in living our values rather than just ‘I made a beautiful abundance collage and the universe will take care of me’.” ~ Jenifer Parker

[34:08] What actions does Jenifer take when she’s looking at her budget every week?

“The first step of budgeting is: what are my costs?” ~ Jenifer Parker

[37:26] Jenifer shares some tips that can help with the mindset part of creating and following a budget.

[40:34] What are some ideas for yoga teachers to make more money?

[46:49] Having a clear goal in mind will help you move in the right direction.

“The budget will work for you if it works the way you work.” ~ Jenifer Parker

[48:23] Shannon pops in to give a shout out of thanks to sponsor, OfferingTree.

[51:21] What are some other ideas for making money within yoga?

[58:17] Jenifer recommends talking to your landlord about subdividing the physical space you are using for yoga classes if the rent has gone up.

[62:23] We have to get comfortable talking about money!

[63:18] Jenifer’s advice is to tap into your networks.

[74:37] Shannon shares some reflection questions you can journal on.

[75:37] Questions (see below)

[78:42] Shannon shares an audio message from a podcast listener.

[81:11] Support the podcast by making a donation or signing up for one of the offerings!

Links:

Gratitude to our Sponsors, OfferingTree and Pelvic Health Professionals.

Reflection & Journaling Questions:

  • How can we navigate the often unpredictable landscape of income and expenses while staying true to the practice of yoga and the purpose of our work? 

  • How do you personally approach budgeting as a yoga teacher?

  • Have you found success in tracking your income before your expenses, and if so, how has it impacted your financial stability?

  • What methods have you used to increase your income beyond teaching classes?

  • Do you prefer using budgeting apps or spreadsheets, and why?

  • How often do you check your bank statements, and what insights have you gained from this practice?

  • In what ways do you see parallels between budgeting and yoga, particularly in terms of consistency and adaptability?

  • Have you been able to build a buffer of savings, and if so, what strategies have helped you achieve this?

  • When do you think it’s appropriate for yoga teachers to consider taking on part-time work, and how can one navigate the potential stigma associated with it?

  • Have you ever negotiated rent for your teaching space, or explored alternative venues? What advice would you offer to others in similar situations?

  • Lastly, how do you harness the power of your network and student referrals to grow your yoga community and increase your teaching opportunities?

OfferingTree all-in-one software

Pelvic Health Professionals