Money Mindset for Hairstylists: Why Raising Your Prices Is About More Than Just Numbers

Recently, I had the pleasure of sitting down with the incredible Ruth Lund for a deep and powerful conversation about money, mindset, and business as a hairstylist. Ruth is a hairstylist, educator, app creator, and entrepreneur with over 20 years of experience in the hair industry, and she has a mission: to empower hairstylists to understand their worth and charge accordingly.

In this blog post, I’m breaking down the key takeaways from our conversation that every hairstylist needs to hear—especially if you’ve ever felt uncomfortable about raising your prices or owning your value.

Why Money Mindset Matters

Ruth opened up by sharing that our relationship with money can either make or break our business. And it’s true—if you don’t have a healthy money mindset, it’s incredibly hard to grow a sustainable business as a hairstylist. Ruth explained how deeply personal and emotional money can be, especially for women in a female-dominated industry where many have been conditioned not to ask for what they’re worth.

How the Pricing App Was Born

During the pandemic, Ruth found herself stuck at home, unable to work behind the chair. Like many entrepreneurs, she turned her frustration into innovation. After going live online multiple times a week and hearing the same struggles from fellow stylists around pricing, she created an e-guide to help hairstylists understand their pricing. That eventually led her to develop a pricing app—because as she said, “There’s an app for everything” and this was a tool that didn’t exist yet.

The Power of Knowing Your Worth

Ruth's origin story includes everything from standing up to corporate salons over underpayment as an apprentice, to learning bookkeeping in her family’s garage business. She saw firsthand how money was talked about (or not talked about) growing up and how that shaped her beliefs. She emphasized that knowing your worth is about more than numbers—it's about having the confidence to claim your space, even if you risk losing a few clients along the way.

If You Want Chanel Prices, Offer a Chanel Experience

One of the most powerful analogies Ruth shared was the idea of creating a "Chanel" experience. If you want to charge premium prices, the experience you offer should match that level. That includes your customer service, environment, and the energy you bring to your brand. People often pay for how something makes them feel — so elevate the experience, not just the price.

What to Do If You’re Scared to Raise Your Prices

This is the big one. Ruth shared:

• Some clients will leave when you raise your prices—and that’s okay.

• If your prices don’t cover your expenses and allow you to make a profit, you are working for free.

• The fear around pricing often comes from a fear of rejection or loss, not from a practical place.

She encourages hairstylists to:

1. Market themselves consistently before the price increase.

2. Shift their mindset from fear of losing clients to confidence in attracting better-fit clients.

3. Understand that you are running a business, and you need to be paid fairly for your time and expertise.

Your Pricing Is Not Just About You

There was a beautiful moment where Ruth reminded us that having money gives us freedom. It's not about greed—it's about having choices. Being able to care for yourself and your family, donate to causes you care about, or provide a luxury experience for your clients.

Money gives you options. And when we as hairstylists feel empowered to earn more, we’re able to serve from a place of abundance instead of burnout.

Final Thoughts

Ruth's story is a testament to resilience, innovation, and leadership. She turned her struggles into a solution not just for herself, but for the entire industry. If you’ve ever struggled with pricing, confidence, or money mindset, her advice is clear: do the work, shift the mindset, and remember your worth.

Raising your prices isn’t about being greedy. It’s about staying in business. It’s about creating a sustainable future for yourself, your family, and your clients.

So hairstylists—what would change in your life if you really believed you were worthy of charging more?

If you loved this conversation, make sure to check out the full replay of our live chat. And follow Ruth for more honest business wisdom and pricing strategy that actually works.