Why does the psychic industry relationship with money suck?
“The everyday psychic and medium is a long way from thriving and enjoying a business that can provide financial independence.”
According to IBISworld and their market research reports the US psychic industry in 2019 was worth $2bn. Sadly, I couldn’t find any similar stats on the Australian industry.
This maybe true but from where I sit in the trenches of the Australian psychic industry, I see that the everyday psychic and medium is a long way from thriving and enjoying a business that can provide financial independence.
It is a common experience to outlay and attend a psychic expo as a practitioner only to come away just covering costs and not having made any money at all. Yet, we tell ourselves that it’s Ok because it’s a marketing exercise.
It is also common to see an expanse of free or low cost readings being delivered across Facebook, yet again the name of marketing. Sadly, this practice that I myself am guilty of, does contribute to devaluing our work.
And in my experience I also see that the general populous has an unconscious ceiling as to what they are generally prepared to pay for a psychic. At $100 that’s a lot of readings each week to make rent. This became evident to me during an exercise in market research and is one challenge I certainly encounter in my own practice, being that after 20years of experience I value myself and my consults above the market average.
While there are some exceptions, overall being in the grass roots of the psychic industry is one where currently it can be a challenge to thrive and be prosperous with a business that supports you financially and one of the reasons for this, is the collective consciousness of a field that struggles to value itself on many levels.
Being part of an industry that is seen by the mainstream to be unethical, built on lies according to the sceptics and full of charlatans out for a quick buck. It’s enough to contend with, without contributing to this lack of belief ourselves. Sadly, however we do.
As a mediumship coach and mentor, it is prevalent to come across people in my work who are exploring their mediumship that hide it for fear of ridicule. Or to see the intuitive practitioner that shy’s away from putting themselves out there wholeheartedly. Hell, I’ve seen people not want to use the term psychic in their title because of how that word is perceived.
In my everyday, when I meet new people at parties and say what I do, it is still a shock to most people with the conversation changing course very quickly. Some have a little curiosity having never met a medium before and of course there are those who expect a free reading. Yet, in over twenty years there has only been one person who said ‘WOW! Good on you for owning that!’ Isn’t it sad though that we even have to be conscious of this and worry about what people think.
It is something we all need to do however. Own, not just our mediumship but our businesses and the money we deserve to earn from making a difference and doing something we love. It’s not just a hobby if you are truly serious and you deserve it as much as any musician, artist, doctor or company exec does.
This collective devaluing and lack of belief holds us in a place of surviving not thriving, shows itself when you come up against the outdated belief that our psychic abilities are a gift from God and we shouldn’t be asking for money. Well to that I say, “how is my God given talent any different to a singer given a gorgeous voice that makes people happy, but it’s ok for them to earn money from it? Not to mention, I have worked incredibly hard to hone my craft over a lot of years, much longer than any Uni degree so yes I am going to ask for money.” You see, when I work in a mainstream job it detracts from how much time I have to be of service to others. This limiting belief is unfortunately still held within the field as much as it is outside of it.
So many psychics and mediums struggle to value their work and not just in terms of their pricing but also in the way they help people. This has created a sea of sameness with people holding the general perception that every psychic is generally the same. Which is just not true – besides varying degrees in quality and experience each of us have our unique purpose. We just don’t sell it all that well. Thankfully, I am beginning to see this change.
Your relationship with money comes down to one thing and that is your sense of self belief and how well you treat yourself. And while as a psychic or medium you are in a field that largely needs to stand against a society that doesn’t believe in us, it makes it even more imperative that we need to stand true in the integrity of who we are. So that together we create a shift.
This means we need to be honest and open about money and what you’d like to see yourself earning from helping others with your psychic and mediumship abilities. Being O’k with this and making your financial needs a priority in your business is vital to see a thriving mediumship business.
Like anyone else, you and I deserve to earn a sustainable income that supports us and sees you thriving. So let’s step away from the shaming that judges a psychic or medium for making money a priority and start having that soul conversation to create greater abundance, prosperity and wealth for all of us.
Hi, I’m Kerrie Wearing and I am a Spiritual Leader and mentor in Feminine Spirit Mediumship.
Do you want the raw and real bio where I tell you I’m just an everyday person like you who happens to have manifested the ability to communicate with Spirit and live life with the love of Spirit, the creativity of Shamanism and the awareness of a Spiritual leader or if you prefer the bio my business coach prefers then, as a Spiritual leader with over 20years of experience, I support women to embody their feminine spirit to expand their conscious connection with the Universe, so they can do life with confidence, purpose and in the Spirit of who they truly are – a Creative Heart Feminine Spirit.
LOL – just keeping it real!
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“Your relationship with money comes down to one thing and that is your sense of self belief and how well you treat yourself.” So true and this consistently impacts women more than men. When you add the systemic issues resulting in unequal pay for men and women it show how deeply challenging this issue is and our need for change. Thank you so much for sharing your insights!
oh yes Kelley, it does run deep for sure. I believe change is coming and us female entrepreneurs are part of that.
It’s the world we are living in. Thank you for your article.
Thanks for dropping by Heather, I’m feeling change is coming.
I totally agree with you. For everyone I tell that I’m a writer, the majority of them ask if I’m actually making a living at it. It’s as if anything that’s not “a real job” isn’t worth spending time and money on. We shouldn’t be punished for doing what we love and wanting to make a living at it.
Thanks for visiting Barbara, your right we do deserve to make a living doing what we love.
Totally agree with your insights. It’s difficult, people think we should be giving it all away for free and don’t want to do the work they just want information about what they should do.
Some people will say ‘but your reading has been more like a counselling session!’
Totally…because that’s what you need right now.
You want to get out of the mess you are in but you don’t want the insight as to how to not do that shit again.
Yet, I have had some of the most joyous moments doing readings over the last 12 months.
In all businesses it’s about selling and getting out there. Yet people complain when we are trying to push ourselves into being visible. It’s a catch 22.
One thing is that there is a general lack of respect for what we are capable of doing.
Thanks Renata, these are valid points and yes I agree more respect is needed. Hopefully by having these kind of conversations we can lead the change.