April is Financial Literacy Month—A Time to Reflect, Plan, and Invest in Your Future

With 73% of massage therapists identifying as sole practitioners, building in financial wellness is essential to a business plan. To explore how self-employed individuals can best plan for their future, we spoke with Sherry Jursa, Senior Vice President of Business Banking at PNC Bank. Sherry describes financial planning as a vital form of self-care—one that supports both your business goals and personal well-being. Whether you’re self-employed, a 1099 contractor, or simply want to take control of your finances, Sherry shares some tips on how to build a stronger financial foundation.

Be Intentional About Your Future

Launching your massage therapy career or running your own practice can be both exciting and overwhelming, but it’s important to prioritize good financial habits early on. Most business owners are busy growing their client book, running day to day operations, and most importantly, caring for others. That said, it can be easy to put yourself last. Sherry emphasizes that building a successful business starts with being intentional about earmarking your income for savings and financial planning.

Plan Ahead

Sherry advises that one of the most important disciplines for sole practitioners is to be ready for financial fluctuations and other business disruptions. She recommends setting aside 3-6 months of expenses to serve as a cushion for any variability that may arise. One way to think about it is to calculate the total amount of your fixed monthly expenses (rent, insurance, supplies, etc.), multiply it by three, and use that figure to set a target goal for savings.

Build a Support Team

“You don’t have to be a financial expert,” Sherry reminds us. Surround yourself with professionals who understand where you are in your journey. A business banker and financial advisor can help lay the groundwork and develop a personalized financial plan that supports both your professional goals and personal aspirations. Come prepared to talk about your specific circumstances—assess your current needs and envision what you’ll require in five or ten years and what financial success looks like for you. Build a support team to make sure your plan is working for you and propelling your visions of the future.

Make Saving a Habit

Sherry encourages massage therapists to treat retirement saving as a regular, non-negotiable part of their budget. While budgeting for everyday business essentials, carve out a dedicated amount for your future. By contributing consistently and treating it as a monthly expense, these funds will feel less like an absence and more like an investment in yourself. Small contributions make a big difference over time. Starting a traditional or Roth IRA and setting up automated contributions can help make this process easier. Having an honest conversation with your banker or advisor can help narrow down options based on your goals.

Leverage Your Bank’s Tools

In addition to building a relationship with your financial advisor, Sherry recommends taking advantage of your bank’s built-in tools—from budgeting to forecasting savings goals. Establishing a relationship with your bank—and keeping your business and personal accounts under one roof—gives advisors a clearer picture of your finances and allows for more tailored recommendations. Track your income and expenses in a way that works for you, whether that’s with a spreadsheet, budgeting app, or pen and paper. To stay on course, Sherry suggests checking in on your finances monthly and meeting with your advisor at least twice a year.

Your personal and professional finances are deeply connected. Adopting a disciplined approach to your financial well-being is one of the best investments you can make in yourself and your practice.

Remember: Be Kind to Yourself, Be Prepared, Have a Plan, Ask for Help, and Develop a Relationship with Your Advisor.

Happy Financial Literacy Month!