ASCP Esty Talk: Episode 334 – Beauty and the Budget

Release Date: July 16, 2025
Host: Maggie Stasik
Guest: Ella Cressman, Licensed Esthetician and Content Contributor for ASCP

Episode Overview

In Episode 334 of ASCP Esty Talk, hosted by Maggie Stasik and featuring guest Ella Cressman, the discussion centers on a vital yet often overlooked aspect of the beauty industry: financial literacy. The episode delves into the challenges estheticians face in managing finances, setting prices, budgeting, and building long-term financial stability. Through personal anecdotes and expert insights, Maggie and Ella provide actionable advice aimed at empowering estheticians to take control of their financial futures.

The Importance of Financial Literacy in the Beauty Industry

Maggie opens the conversation by highlighting the scarcity of financial discussions within the beauty industry. She states:

"Today we're diving into something that doesn't always get enough attention in the beauty industry. Financial literacy."
[01:44]

Ella concurs, emphasizing that financial management is often relegated to the background for estheticians, who primarily focus on their craft:

"I think for estheticians specifically, when it comes to finance, it's not in the forefront of our mind. Except for how much do I charge."
[02:10]

This sets the stage for a deeper exploration of why financial topics are uncomfortable and frequently neglected among beauty professionals.

Common Financial Challenges Faced by Estheticians

The hosts discuss various reasons why money is an uncomfortable topic for many estheticians. Ella attributes it to the nature of the profession:

"We're artists, we're healers, we are creative, if you will. We're not necessarily that business major."
[02:31]

Maggie adds that passion often overshadows the need for financial planning, especially in the early stages of a business:

"Our passion often outweighs financial planning, at least in the early stages of our business, I think. And avoiding financial talk doesn't make our financial problems go away. It usually makes them worse."
[02:47]

Personal Experiences and Lessons Learned

Ella shares her personal financial missteps, offering valuable lessons for listeners:

"I didn't have a plan and know that I have a business degree. So that sucked... I bought a bunch of back bar and then I bought a machine that I didn't really need also at the time."
[04:02]

She reflects on the importance of strategic planning over impulsive business investments.

Maggie opens up about her own financial oversight regarding tips:

"What was one lesson that I learned the hard way? I never counted my tips... And then my now husband at the time and is saying to me, where's your tips? How much money did you make? We're gonna go and file your taxes."
[05:22]

Budgeting and Managing Income

The conversation transitions to budgeting, a critical component of financial stability. Ella explains how budgeting became essential after experiencing financial anxiety:

"The budget thing for me came later and it came from this nail biting. I was sick of the nail biting of like, am I going to have enough in my account?"
[09:47]

She discusses the difficulty of maintaining a budget, especially when income can be unpredictable:

"We have busy seasons of the year, but we also have busy and slow seasons of our career. Like things change. I'm in a slower. A lot of people are in a slower season of their career."
[19:19]

Incorporating Financial Literacy into Beauty Education

Maggie and Ella highlight a significant gap in beauty education—financial literacy. Maggie remarks:

"What we wish we learned in aesthetic school or beauty school. And common denominator seems to always be business or financial literacy or something in that vein."
[15:18]

Ella agrees, pointing out that curricula are traditionally focused on passing state boards rather than preparing estheticians for the financial realities of running their own businesses:

"Not at all. And like you said, it's a huge bone of contention... and it's just continued before this was a real consideration, before this modern trend of majority being solopreneurs."
[16:02]

Innovative Approaches to Teaching Financial Literacy

The hosts discuss modern initiatives aimed at enhancing financial literacy among younger generations. Maggie introduces E.L.F. Beauty's collaboration with Chime on Fortune Island, a financial literacy game on Roblox:

"They partnered with Chime and launched what's called Fortune Island, Earn, Learn, Flex, and it's a financial literacy game on Roblox... it's meant to engage the Gen Z audience and teach them financial literacy."
[11:59]

Ella praises this approach, noting its effectiveness in meeting young people where they are:

"This is fantastic on a lot of ways. Do you know I do a lot in instructional design. And this is meeting somebody where they are. Yeah, that's great."
[12:34]

Top Financial Lessons for Estheticians

Ella shares her top three financial lessons, providing a clear roadmap for estheticians seeking financial empowerment:

1. Setting Prices Based on Costs and Value

   "Set prices really based on costs and value and demographic."
   [16:49]

2. Tracking Income and Expenses

   "Track what you're bringing in and then what you're spending, even if it's just on an Excel spreadsheet."
   [16:49]

3. Budgeting for Slow Months and Retirement

   "Saving for slow months, saving for taxes. And then another thing in the savings is retirement, which is so important."
   [16:49]

These lessons underscore the necessity of proactive financial management to ensure long-term success and security.

Actionable Steps for Financial Empowerment

Towards the end of the episode, Maggie provides listeners with practical steps to begin improving their financial literacy:

1. Open a Separate Business Account
2. Track Income and Expenses for One Month
3. Review Service Pricing Regularly
4. Allocate a Small Percentage from Each Check for Taxes or an Emergency Fund
5. Follow Financial Educators or Beauty Business Coaches Online

She encourages listeners to engage with the community by sharing their experiences and seeking support:

"Have you struggled with the money side of aesthetics? What's helped you feel more empowered? Drop us a message on Instagram or email us@getconnectedcpskincare.com."
[19:19]

Key Takeaways

• Financial literacy is crucial for estheticians but often neglected due to the creative and healing focus of the profession.
• Personal experiences highlight the importance of strategic planning, budgeting, and proper financial management.
• Educational curricula need to evolve to include financial training to better prepare estheticians for entrepreneurship.
• Innovative solutions, such as gamified financial education, are emerging to engage younger generations.
• Practical steps and ongoing education are essential for estheticians to achieve financial stability and growth.

Conclusion and Engagement Invitation

Maggie and Ella conclude the episode by reiterating the importance of financial empowerment for estheticians. They invite listeners to connect and share their own challenges and successes, fostering a supportive community aimed at bridging the financial knowledge gap in the beauty industry.

For more information on this episode or to connect with Maggie and Ella, visit the show notes or reach out via Instagram and email.

Listen to the full episode of ASCP Esty Talk here.

Empowering estheticians to thrive financially and professionally.