This is a mixture of advice and a rant mainly about money because I’m BROKE!!! lol
Of course, you all know I love what I do and I can’t actually think of anything I would rather do, but I really do wish I had been better prepared for this creative industry!
I mean I’ve got a degree in Broadcast Journalism, but it would have been nice to have a module on invoices, tax returns and SAVING for a rainy day because this industry is full of rainy days! lol
So I thought I would share a few things I wish I knew sooner and tips for the future self-employed creatives!
So here’s 5 things you should know as a presenter or creative!
Ok so here’s the funny story… For every job I have done over the last few weeks, if I got paid with cash in my hand on the day, I would be so happy! I would be enjoying cocktails and living my best life eating lobster every day LMAO… ok I’m not rich, but seriously I wouldn’t be complaining.
The thing is when you work as a freelancer you often have to wait for the company that has booked you to process your invoice and then pay you. This can take anything between a few days to 30 or even 60 working days! YOU’RE KILLING ME OUT HERE!
There are sometimes ways around this, but make sure your finances are in order, in case you find yourself relying on money that is weeks away from landing in your account KMT
2. Save your money!
This one ties in nicely with number 1!
Whenever you get the chance SAVE SAVE SAVE!!!
Of course, we all have bills, of course, we all want nice things, of course, we want to treat ourselves, but you really do need to save for your future especially if you are self-employed or a freelancer, but also in general!
Often jobs come as contracts and can be short-term, so you might not always get a job immediately after or in between jobs, which makes it is very important to have some money to keep you covered.
Also, as you won’t have tax deducted from a wage or salary you have to keep on top of your taxes. Get yourself set up as self employed before the Tax Man tries to destroy your good name and stay on top of it!
What I do is keep separate accounts, (all under Barclays, and I manage it using the banking app which is great) so I have one that I use to save for my tax, one as savings for myself and my future house or whatever and one for day to day use. Try it, it could come in handy for you too.
3. Get an accountant!
I know you’re not going to like this but trust me it’s important and helps you avoid getting FINED!!!
So in all honestly with an accountant, it does feel like you are paying someone to tell you how much money you need to give to the government… it’s a cruel twisted world we live in lol
But seriously it’s better to have your finances professionally calculated, rather than quoting the wrong tax amount, submitting it late or being completely LOST and messing it up. I don’t know why it feels so stressful when it shouldn’t be, but it always is!
I recommend http://www.theataccounts.co.uk/ who specialise in working with people in the entertainment industry and its at a reasonable price.
4. Juggling more than one job!
As I mentioned before, you may find yourself moving on from companies after short contracts, or even working for multiples employers at one time.
Get your hustle on!
The most important thing is that you keep networking and working your way up and through the creative industry. This is the one industry where it’s the norm to have multiple jobs!
In the creative industry, for example, someone like me, maybe working with a production company during the week, hosting events or Djing by night, hosting a radio show at the weekend or even fitting interviews and shoots in between your schedule! It can be tiring but get that “shmoney honey” and secure the bag!!!!
5. Make time for you!
And last but not least make sure you look after yourself!
I know some people think being busy is good and that annoying phrase “I’ll sleep when I’m dead” get’s thrown around so often.
My answer is NO, get some sleep, rest, you don’t have to do it all we’re only human!
Take breaks, holidays and time out with family and friends as much as possible or you might just drive yourself crazy or into an early grave!
In my past, I’ve suffered from anxiety, stress and have overworked myself to the point of exhaustion.
I’ve also found myself overthinking and worrying about work with fears that I’m not progressing fast enough or working hard enough. You need to find a balance!
I’ve found that social media and pressures in the creative industry can be very overwhelming, so it’s important to know that if you do feel like life is getting a little too stressful, that you take the time out to treat yourself have a break, a day off or spend some good quality time with loved ones!
If you are a new creative I hope some of these tips might be useful!
If like me you wish you learnt this a few years back, its not to late to get your money in order. Start small and you’ll be pleasantly surprised at how much you can save and how helpful it can be.
Right rant over, I’m gonna book a holiday ASAP! Lol
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