7 Money Mindset Mistakes That Keep Coaches Undercharging (And How to Fix Them)

This post is all about money mindset.

If you’re a coach who’s constantly wondering why you’re working so hard yet not seeing the income you deserve, you’re not alone.

You’ve poured your heart into your business. You’ve spent hours creating valuable content, showing up on social media, and helping people get real results. But somehow, when it comes to pricing your services, something holds you back.

You hear that voice whispering, “Who are you to charge that much?”
Or worse: you get ghosted after sharing your prices and you start thinking the only way to land a client is by offering a discount.

Sound familiar?

Here’s the truth: the problem isn’t your talent or your value.
It’s your money mindset and it might be sabotaging your income without you even realizing it.

In this post, we’re going to uncover the 7 most common money mindset mistakes coaches make that keep them undercharging and exactly what to do instead.

Why This Matters (The Pain Points Most Coaches Are Living With)

• You’re stuck in a feast-or-famine cycle and stressed every time a potential client doesn’t say yes.
• You’ve created incredible transformation for others but your own bank account doesn’t reflect your impact.
• You’re afraid of raising your rates because you think people will walk away.
• You’re relying on referrals and random leads instead of having a real sales strategy.
• You feel resentment creeping in when clients don’t honor your boundaries or worse, you start to question your worth.

These aren’t just business problems. They’re symptoms of a broken money mindset.

Let’s fix that starting now.

1. Mistake: Pricing Based on What You Think People Can Afford

So many coaches price their services by guessing what their audience can pay instead of what their transformation is worth.

This is a fast track to burnout.

You’re not selling a pair of shoes you’re selling a solution. A powerful, life-changing result that people want to pay for when it’s positioned correctly.

Do This Instead:

Price your offers based on the value of the result, not your assumptions. Create coaching packages that solve a specific problem and help clients achieve a measurable transformation. Stop selling your time by the hour. You’re not a task you’re a trusted guide.

2. Mistake: Not Having an Application or “Red Velvet Rope”

You hop on discovery calls with anyone and everyone even if they’re not the right fit. You end up wasting time, justifying your prices, or getting ghosted afterward.

That’s not just exhausting it’s disempowering.

Do This Instead:

Implement a Red Velvet Rope strategy aka, an application to work with you. It positions your coaching as premium, filters out unqualified leads, and helps your potential clients self-identify as ready to invest.

People respect what they work for. Make them step toward you.

3. Mistake: Believing That a Website Alone Will Bring in Clients

A pretty website with no visibility and no strategy is like setting up a boutique in the middle of a desert nobody’s coming.

And when the leads aren’t flowing, the panic sets in. Suddenly, you’re slashing your prices just to get any sale.

Do This Instead:

Build a brand, not just a website. Your brand is your message, your positioning, your values, and the story that resonates with your ideal client.
Then pair that brand with a sales strategy that consistently brings in leads, builds trust, and converts interest into income.

Marketing isn’t optional it’s your oxygen.

4. Mistake: Thinking “If They Say No, It Means I’m Not Good Enough”

This one stings and it runs deep.

When someone says no to your offer, it can feel like a personal rejection. You start second-guessing your prices, your skills, your worth.

That’s a dangerous path, because it makes you shrink.

Do This Instead:

Detach your self-worth from your sales. Not everyone is meant to work with you and that’s a good thing. You want ideal clients, not just any clients.
Let people say no. Give them the dignity of choice. When you show up unattached, you come across more confident and confidence converts.

5. Mistake: Undercharging Because You Feel Guilty About Making Money

Many coaches (especially women) have deep-rooted beliefs that making money means they’re greedy, selfish, or “not spiritual.”

They see sales as something done to people instead of done for people.

That guilt leads to undercharging, overgiving, and chronic overworking.

Do This Instead:

Shift your money mindset to see sales as service.
The more you charge, the more committed your clients become and the bigger the transformation.
You’re not taking from people. You’re helping them claim the change they say they want.

Money simply reflects the value exchanged. That’s it.

6. Mistake: Not Having a Repeatable Sales Strategy

You post on Instagram, cross your fingers, and wait.

And when one lead finally reaches out, you feel the pressure to close the sale even if they’re not a fit. You might offer a discount or say yes to custom work just to make it happen.

That’s a recipe for resentment and regret.

Do This Instead:

Design a repeatable sales system that generates leads consistently. This could be a free training funnel, a lead magnet, a webinar, or strategic partnerships.
The goal is to always have people coming toward you so you never have to act out of scarcity again.

Confidence comes from options. Options come from strategy.

7. Mistake: Avoiding Sales Because You Don’t Feel Confident in Your Skills

Let’s be honest sales can feel awkward when you’re not sure what to say.

So, you avoid it. You procrastinate. You convince yourself that if you just post one more quote, someone will magically inquire.

But business doesn’t work like that.

Do This Instead:

Increase your competence so you can increase your confidence.
Study ethical sales, learn how to lead a sales conversation, and practice. Just like coaching, sales is a skill and once you master it, everything changes.
You won’t just make more money you’ll feel more aligned doing it.

The Bottom Line: Your Money Mindset Shapes Your Reality

The income you’re currently making is a direct reflection of the beliefs you hold about money, value, and worth.

But here’s the good news: beliefs can be reprogrammed.

Your coaching business is not a charity. It’s a vessel for transformation and the more you own that, the more your income will reflect it.

You don’t need to lower your prices.
You need to raise your standards.

It’s Time to…

• Invest in yourself the way you want others to invest in you.
• Create signature packages that sell outcomes, not hours.
• Implement a red velvet rope with an application that qualifies clients before the call.
• Build a brand with a message that magnetizes your dream clients not just a pretty website.
• Use a sales strategy that consistently attracts and converts leads so you’re never desperate.
• Improve your sales confidence by mastering the skill of authentic, service-driven selling.
• Be OK with hearing “no.” Because you’re not here to convince everyone you’re here to serve the right ones.

Final Thought:

If you’ve been undercharging, it doesn’t mean you’re failing. It means you’re ready to grow.

Your money mindset is the root and when you shift it, everything else blooms.

This is your time. Own your worth. Raise your rates. Build your legacy.

You didn’t start your coaching business to stay small.
You started it to change lives including your own.

This post was all about money mindset.