Why I only pay myself $36k from my $300k+ business
Create a video membership platform with Uscreen:https://www.uscreen.tv/?utm_category=... 📹 I've talked about how much gross profit my business makes, and what my typical monthly business expenses are; but I haven't talked about how much money I personally make - until now. I wanted to explain the rationale behind what I choose to pay myself, in case you're also on the journey of learning to balance business finance and personal finance. Hopefully this can give you some insight and ideas of where to get started if you're trying to figure all of this out too (I know it too me a long time to get a handle on it)
📕 TABLE OF CONTENTS 📕
00:00 so yeah, this is how much I pay myself 💵
01:39 let’s talk about profit vs revenue vs personal income
03:06 how to decide what you’re going to pay yourself…
03:46 how I spent my business’s profit
06:39 why do I only pay myself $36K when my business makes so much more?
07:23 I split life expenses with my partner
09:05 I want to avoid lifestyle creep
11:10 The creator economy can be a little uncertain tbh…
12:10 you gotta diversify your income as well as saving aggressively
12:51 what would you want to see in a membership with me?
13:32 creators need reliable, recurring revenue streams
14:15 money discussions can be shrouded in mystery, but they shouldn’t be
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// ABOUT ME
Hey, I'm Katie! I make videos about social media strategy and content creation. In addition to being a YouTuber, I also run a small digital creative agency that produces content for all kinds of creators! We edit podcasts, produce YouTube channels, develop online branding and Instagram strategies and more! If you want our help or just want to learn more, check out https://www.creatorlymedia.com
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