Most designers have ridiculous expenses.

$1000s on software
$100s on Stock Photos
$200+ on pointless plug-ins
$30 on AI software like ChatGPT
$100s per year on premium domains

This is how you will stay broke forever unless you run a $10k/mo business (you probably don’t if you’re reading this).

I run my design business on less than $100 per month.

Adobe → $55/mo
Website → $12/mo
X Premium → $8/mo
Gym membership → $22/mo

The gym membership is essential because you can’t run a business to the best of your ability without being mentally strong and physically capable.

Read 7 Ways To Boost Productivity As A Graphic Designer if you want more information about this.

Here are some valuable financial tips curated just for you:

1. Budgeting:

Create a detailed budget outlining your expenses and income. This helps you understand where your money goes and where you can save.

2. Separate Personal and Business Finances:

Maintain separate accounts for personal and business expenses to keep finances organized. This will also help with your budgeting for your design expenses while being able to enjoy life at the same time.

3. Charge what you are worth:

Don’t undervalue your work. Calculate your rates based on your expertise, time, and the value you bring to clients.

If you don’t want to make money and you want to undervalue yourself, head over to Fiverr and start competing with those in a race to become the cheapest graphic designer on planet Earth.

If that’s you — go for it — I won’t stop you. Unsubscribe to my e-mailing list while you’re at it.

If you’re reading beyond this point then congratulations — I know you’re serious about making money as a designer.

So let’s start charging with what you’re worth. Starting today.

4. Contracts and Agreements:

Always have written contracts or agreements in place before starting any project. This protects you and your client, outlining payment terms, project scope, and deadlines.

Too many times I have been scammed by a client because I trusted them to send over a payment. Never again will this happen to me.

5. Diversify Income Streams:

Explore various revenue streams such as freelance work, selling design assets online, teaching design courses, or creating passive income through products like e-books or templates.

You need multiple income streams as a designer, especially as the world gets tougher — you need freedom

OrangeClub made me over $5,000 and still makes me passive income today. (Black Friday Sale incoming for exclusive newsletter subscribers)

6. Invest in Tools Wisely:

Invest in quality software, equipment, and resources that enhance your productivity and skills, but avoid unnecessary expenses.

7. Emergency Fund:

Save for unexpected expenses or lean times. Having an emergency fund can provide a safety net during slower periods or if a client payment is delayed.

Remember that being broke is a choice if you’ve decided to have $1000/mo expenses on a shoe string budget.

That’s no way to run a business. Follow the advice above and you’ll be in a much healthier financial position than you are in currently by this time next year.

Take care brother,

Joseph | JaffaBranding

0 comments

Don’t Become The Richest In The Grave

You Are Winning

Running a Design Business for Cheap? It’s More Possible Than You Think

My 10-Year Design Journey – Lessons I Wish I Knew Earlier

How To Make $450+ Per Month Working 7 Minutes Per Day

See all posts from JaffaBranding