When you decide to become a therapist, it is important to consider your finances. You need a plan for how to make ends meet. Ben made the point in Saving Psychotherapy that our field is mostly comprised of wealthy people, in part because those are the people who can afford to take on the financial burden of grad school and the years of low income while working toward licensure. One of the main reasons people drop out of our field before licensure is that same financial burden.
Some of us are fortunate to be able to lower our cost of living by moving back in with family or having a spouse’s support to draw from. The rest of us aren’t so lucky. We need side income to make it through to graduation.