The BIGGEST MISTAKE creators make — and how to avoid it!
Don't mix your personal and business finances!
As a creator, your bank statements are probably filled with a slew of… interesting purchases. (Goggles, potato chips, and 20 pounds of glitter, anyone??) Whatever you’re buying, it’s important to know which are for personal use and which are for your business—because mixing your personal and business finances is one of the biggest money mistakes creators make! Business and financial manager Belva Anakawenze is here to explain why, and help you plan properly so you can avoid money headaches.
Looking for more resources to help you think through money stuff? Check out the links below:
• LLC vs S-Corp: how to PAY YOURSELF
/ 5-ways-to-structure-your-creative-business
/ what-you-can-and-cant-write-off-as-a-creator
/ budgeting-basics-for-creators
And check out the rest of our Earn Up series for more creator-focused financial tips:
• How to MANAGE YOUR MONEY as a creator | TO...
00:00 - Intro
00:50 - Think of it like coffee and cream...
01:27 - Minimizes legal risk
01:46 - Simplifies your taxes
2:05 - Tip: incorporate your business
2:30 - Tip: open separate accounts
2:45 - Tip: track cash flow
3:02 - Outro
#smallbusiness #financialadvice #entrepreneur #money #creatoreconomy
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