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money & business for creatives

money & business for creatives in 2 minutes or less.

in 2 minutes or less.
Who reads this?
Freelancers, artists, YouTubers, solopreneurs, musicians, and more
Who reads this? Freelancers, artists, YouTubers, solopreneurs, musicians, and more
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"It’s like a bible for creators that work more and forget the financial stuff."
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Welcome to The Loaf - a weekly newsletter making money & business more approachable for self-employed creatives & freelancers
Money: My 11 Money Rules as a Creative Entrepreneur [article]
Money's meant to be a tool, but we often let it take over our lives.

It's easy to let money become a hidden centerpiece in your day-to-day, influencing nearly every decision.

To help with this, I created a set of guidelines for myself.

These rules keep me on track with decision-making and they reduce the amount of time I spend thinking about money overall.

They aren't perfect, but they work well for me:

‍Rule 1) If it saves time, spend the money
‍Rule 2) If it creates a memory, spend the money
‍Rule 3) Maintain a one year cash reserve
‍Rule 4) Budget & aim for monthly travel
‍Rule 5) Insure for security, and nothing more
‍Rule 6) Invest (or save) at least 10% of income
‍Rule 7) Always tip at least 25% (aim for double)
‍Rule 8) Reduce friction, stay organized, & simplify where possible
‍Rule 9) Avoid non-cash flowing debt
‍Rule 10) No more than two actively used credit cards
‍Rule 11) One to rock, one to stock
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🗓 this week
‍Friendly money & business reminders for self-employed creatives‍
‍✅ Consolidate financial accounts‍
• Why? Organization is a key part of managing your money. If you have several bank accounts or old retirement accounts from different employers, consolidating will make everything easier to manage
• With old retirement accounts, you may be able to roll them over into an IRA so that you only have to manage one account - which can save on fees and paperwork
• Further reading:  How to consolidate retirement accounts
• With bank accounts, I like to have one primary checking and then a couple of savings accounts designated for specific goals
• For credit cards, I like to keep it simple, stick with one or two primary cards, and that's it‍
‍✅ Review your personal (and business) website
• Why? It's easy to let your website get stale. Making updates and reviewing your copy is boring, but it needs to be done once in awhile
• Take a few minutes to upload new work to your portfolioUpdate your "copyright" text in the footer to reflect 2023
• Review your contact info and social links to make sure they're still accurateI've seen this a lot recently with personal brand websites, but you want to make sure that your site has a security certificate or visitors may not be able to access it.
• Also read: How to Create a Contact Page that Attracts Better Clients
...more crumbs
✍🏼 Why naming a project is so important
🎯 Six systems to build a 7-figure creative business
🎥 Watch: College kids launch TV shows on TikTok for less than $5,000
✍🏼 Freelance Finds: Why you should hire a virtual assistant for your freelance business
Links available in subscriber-edition
Keep creating,
Treyton DeVore
treytondevore.com​
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You didn't sign up to be a bookkeeper, financial planner, or business operator - but you need some of that knowledge to succeed and build a sustainable career. This blog exists to help you along your creative journey, and if you have a question about money or business, you can submit it here.

Original content written by Treyton DeVore (founder of Piertree and Investopedia Top 100 Financial Advisor) and other self-employed creatives

📈 Investing
Top post: The Solo 401(k): The Most Flexible Retirement Account for CreatorsHow To Get Started Investing with Just $100How to Put Your Investment Portfolio on Autopilot5 Places to Open a Roth IRA (and Why)Best Retirement Accounts for FreelancersWhy Investing Shouldn't Be Considered Gambling (with Examples)What To Do with 401(k) From Old Employer5 Mistakes to Avoid as a New Investor
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💸 Manage Your Bread
Top post: 7 Ways to Practice Financial Self CareMy 11 Money Rules as a Creative EntrepreneurHow to Manage Money (and Your Creative Business) During a Recession11 Essential Financial Tools for Creators & FreelancersWhy Creators Need to Focus on Cash FlowWhy Interest Rates (and Credit Scores) MatterFees to Watch Out for In The Finance IndustryHow Much Does a Financial Planner Cost?
✍🏼 Freelancing
Top post: 9 Ways to Get More Referrals & Inbound Leads5 Financial Mistakes Freelancers Make (And How to Avoid Them)How to Land Your First Freelance Writing Clients Without Doing Sales8 Ways to Create Financial Stability as a FreelancerWhy Freelancers Should Be on Twitter (And How I Would Approach It)What I Wish I Knew About Money Before Becoming a Freelancer3 Reasons Freelancers Should Apply for an EIN (Employer Identification Number)
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📬 The Loaf

a weekly newsletter sharing money & business tips for self-employed creatives
Must-Read Financial Advice for Freelancers - #68
There's a lot of bad financial advice on the internet. Whether it's wrong or inapplicable, few things you read apply to your situation as a self-employed creative. So this article is the opposite of that. I've been a freelancer & a financial planner for the past couple of years, so these 10 pieces of advice are formed from firsthand experience:

January 28, 2023

The start of something big.. - #67
The time has come. After starting the Creatorbread Creative Grant Program in December, we've officially funded the first grant 🎉The first recipient is Elizabeth R, a young creative who has a passion for making unique clothing & costumes for underrepresented communities. A few examples of her work:

January 21, 2023

Where to Invest Your Money as a Creative - #66
By definition, investing is the allocation of resources (usually money, time or energy) with the expectation of a future benefit. This means that things like taking a course, buying a book, or going to the gym can all be viewed as an investment. But as a creative, there are certain areas where your dollars have the most impact. These are five of those areas (and only one is the stock market 👀)

January 14, 2023

My Money Rules as a Creative - #65
Money's meant to be a tool. But we often let it take over our lives. It's easy to let money become a hidden centerpiece in your life, influencing nearly every decision. To help with this, I created a set of guidelines for myself. These rules keep me on track with decision-making and they reduce the amount of time I spend thinking about money overall.

January 7, 2023

How to (Actually) Reach Your Goals in 2023 - #64
We made it. The last day of 2022. Did you accomplish what you had planned this year? If you're like most people, you might've reached a few goals throughout the year, but something still doesn't feel right. The accomplishments may feel hollow - or you could be learning that goals often evolve (especially when you're just getting started in your career). Either way, there's a solution.

December 31, 2022

Most Read Articles of 2022 - #63
Quick newsletter today as I've spent the past week traveling & hanging out with family for the holidays 🎄 A few links to the most popular articles I wrote for Creatorbread in 2022.

December 24, 2022