Not every hobby needs to be a side hustle. But, if you set out to make money off of yours – congratulations, you’re running a business! Now you have to pay attention to finances.
It can be uncomfortable taking something you do for fun and turning it into a product with a dollar value, especially if you’re a creative person. Add on the trope that being financially savvy is antithetical with being a true artist, and it’s no wonder many creatives feel “bad with money.”
But when you ignore your finances, you’re not only missing out on peace of mind, you’re also losing the ability to make sound business decisions that come from a place of clarity rather than an emotional “I’ll take what I can get” energy.
Writer, illustrator and musician Paco de Leon runs a financial education firm and bookkeeping agency. Her book, Finance for the People, is a beginner-friendly guide to navigating your financial life. De Leon joined Life Kit to offer her best money management tips for creatives.
Set up weekly finance time
Whether you’re following up on invoices, logging expenses, paying bills or researching accountants, many financial chores are forgotten if we don’t take time to prioritize them. To avoid this, set up a weekly finance meeting with yourself and treat it as sacred. Spend anywhere from 20 minutes to an hour to check things off your list, instead of only doing them when you remember.
“Don’t allow people to book meetings or bother you during that time,” says de Leon. “Having