Let's Talk Money 💸 : A 25 year old brought home $24K last year
Welcome to Let's Talk Money, a newsletter dedicated to showing creative entrepreneurs what's actually happening behind the scenes of their peer's businesses.
As a reminder, this newsletter will only stay alive for as long as I receive entries. I won't ask your name, business name, or email when you submit so if you want to share what's happening behind the scenes fill this out.Â
Let's get into this week’s entry:Â
What do you specialize in: Branding
How long have you been in business? 2+ years
Age: 25
Location: N/A
Debt: $10,000 (some car loan, some student loans)
Saving: $1000
Degrees: Associate Graphic Design
Do you have a partner, family, or anyone else that helps you financially?Â
Nope
If you do have someone that helps you financially, what does that look like for you?Â
N/A
Do you have anyone you need to care for? Children, pets, family members, etc. If so, how many?Â
No
Are you full-time or part-time in your business? Do you have another job along with this one?Â
Full-time
What was your revenue last year (before taxes & expenses)? Â
$30,000
How much did you bring home after taxes & expenses last year (profit)?Â
$24,000
What's your average monthly revenue (before taxes & expenses)? How much of that do you actually pay yourself?Â
$2200-$3000, I pay myself 70-80%
How many employees/contractors do you have including yourself? What do they do?
N/A
How much do you pay your contractors or employees?Â
N/A
What are your services and their average price?Â
Branding - $1500, VIP Design Day $650
How many clients do you take on during a month?Â
As many as I can get
How many hours are you working per week?
15-20
How often do you take time off during the year? Does this affect your income?Â
I don’t really take time off. Since I still am not booking as many people as I like, I don’t work full time hours, so I don’t feel like I need time off (except weekends and holidays)
In the last month, what type of expenses did you have and what did they cost?Â
Biz Expenses - $100
Groceries - $350
Rent - $925
Phone - $35
Car Payment - $170
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