The Importance of Financial Literacy as a Freelancer

[@JulesFredericNerestant]

I would emphasize with BIG BOLD LETTERS that "it doesn't have to happen tomorrow." Start small as long as you start!💪

[@carlostigs]

hahaha true that

[@renzdii]

"I'm a businessman. I like money. I also love art." thanks for sharing this! Keep on dropping these gold mine of mindset and practical advice.

[@carlostigs]

You got it!

[@mariusmoga1603]

It feels good to have an advice like this, but even better when I want to do this step without thinking too much at consequences, thank you

[@davidettel5788]

That indeed is a very important video. Thank you for getting more people aware of this.

[@carlostigs]

My pleasure!

[@yixiaoqin]

Thank you Carlo, this is such an underrated topic. Your explanation is clear and personable. I admire how responsible you are!

[@sondrevestheim]

This was a really great video🙌🏻 We need to talk more about how to manage our finances! But the big question; what account paid for the Venice?😆👀

[@Undarkend]

Thank you Carlo, This topic has caused me a lot of stress at the beginning of my freelance journey. Thank you for being transparent and teaching something most schools don't

[@JP_Gaffer]

Great stuff as always man! Super well said, and something I wish they taught more at a younger age. Learning this stuff on your own or through friends “advice”(like I did) makes it so much harder to grasp, but you broke it down nice and easy to understand.

[@carlostigs]

I appreciate that!

[@mradriiiian]

I binged the last few days through your older videos and I reeeaally love your attitude, and you can pretty clearly see your parth as a freelancer.. Doing the cinematography practices.. Your improvements, getting your first apartment etc.. You gave me a lot of faith that I can do this too. I loved your Filmmaker stretching video.. It seems out of place but it's soo good! :D And yeah finances are not talked enough about.

[@mradriiiian]

I really love how personal this relationship between you and your viewers is

[@carlostigs]

thanks for watching

[@mmaneage86]

Thanks for this. Lol, with so many gear reviews and channels focused on technique, I think people need more of a reality check of what the career side of filmmaking is like. It kind of creates a short term mindset. Whereas this video gives a broader picture of how to succeed. Looking forward to seeing the next part!

[@jakoblauber]

These tips are so important!! Great video

[@howtotechstuff]

Hi Carlo, aspiring KZbinr (I make crappy videos but trying my best to improve) here. Couple of points I wanted to share: - In Europe, the finance knowledge up to high school is very limited and also scratching the srlurface in terms of finances, handling money, taxes, etc. - There's certainly fear in jumping into being freelancer. It is scary but with a good preparation and belief in oneselft I think everyone can do it. I also think that's there's no perfect moment to do it; there will always be something you haven't learned and will learn along the way...the unknown stuff, which paralyzes many people - There's a lot of free resources on finances but it's also best to talk to the professional in the local area and delegate most of the work. - Separate account for taxes; gold advice - I use automations to automatically move certain percentage of earnings into taxes, emergency fund, etc. This saves me lots of time and adds to the discipline of saving money. All the best, keep this channel so awesome. Michal

[@thenullco]

Automation 💪

[@carlostigs]

Thanks for sharing

[@DirectorIllyRock]

By far one of the most important videos on your channel, for all of us alike. Thank you so much for this.

[@carlostigs]

Glad you think so!

[@scottstevensonfilms]

Great video. I just opened an LLC for my grip and lighting truck and your tips were super helpful.

[@jameslindemann7271]

This came at such a great time, man. I have my llc and business account, but having a designated account for everything just makes too much sense. Thanks for your continuous insight and experiences🙏

[@brokenstudiotv]

Videos like these are invaluable so thank you so much for taking the time to share it with all of us for free. God bless! ❤

[@carlostigs]

You are so welcome!

[@joshsmukal]

Great stuff. As a freelancer / single-member LLC, I operate my finances the same way and share your thinking behind it all, too. One tool I highly suggest is YNAB [You Need A Budget]. It's basically a digital version of the envelope budgeting method. I've used it for about a year now and it's significantly improved spending & saving habits.

[@matt.banton]

Man i wish i was as savvy as you when I was 25! Im 37 and only learnt this stuff in my early 30's. Keep up the awesome work bro, love your content :)

[@carlostigs]

I appreciate that!

[@malvinmagri4439]

Great In fo Gian!! I setup an S Corp with quarterly payroll and like that I don't have to pay up a big chunk at the end of the year. Just decide what you want to pay yourself yearly and your accountant takes care of federal and state withholding with quarterly payroll, like a corporation. I guess it's all the same either pay it up at the end or in chunks. Love your content!

[@carlostigs]

Right on! I also pay quarterly and talk about it more in next weeks video. Thanks for sharing

[@thenullco]

Great video, GC. Really nice. You are absolutely right, we all need to talk and learn about finances in a better way. I am UK-based and run my business and personal finances similar to you. Some of our banks over here have 'pots' which automatically put 30/40/50% aside, which is useful. Some of those pots pay up to 5% interest too, which is a nice little extra. Similarly, I am quite obsessive about every single £ and where it goes. This attention to detail has really helped me learn my finances inside and out. Peace. ✌

[@carlostigs]

Thanks!

[@calebb.2335]

Great tips Dude! Thanks for putting this kind of content out there. I got fined for not paying my taxes quarterly in estimated tax payments. You might want to do that instead of setting it aside for one lump payment at the end of the year.

[@kadegilliss9059]

Love these kinds of videos. Also for those just getting started you don’t need an LLC to write off business expenses, just a heads up!

[@EricFloberg]

You absolute legend. Phenomenal video.

[@carlostigs]

Look at this guy stopping by in the comments :)

[@_GhostGarden_]

Hey man, this was super helpful, even if it doesn't get a ton of views I really appreciated it, thank you.

[@carlostigs]

thank you

[@sebfitzhenry]

Really great video, thankyou. For anyone that finds all the accounts daunting, some banks like Monzo have a pot system to easily separate those savings 🤘🏻

[@brettmedina8]

Great, great advice, just started getting into freelancing and trying to learn as much as I can as I go by. Would you recommend building a personal website?

[@kra4194]

Thank you for this topic Carlo. Much love

[@mozzishot]

Thank you carlos! Amazing insightful knowledge spilled in todays video!

[@carlostigs]

My pleasure!

[@djsfilm]

dude this so such good info! thanks for sharing bro. you are killing it man.. dont forget us little people when u become big time

[@carlostigs]

thanks brother

[@Childrenoflightprod_]

Appreciate this I am just starting take myself serious as a business and your video was helpful

[@ozzythemighty2767]

I am at that first step.. & it is overwhelming.

[@speliotis]

this is important... Thank you for bringing up the topic of finance.

[@carlostigs]

Any time!

[@speliotis]

@@carlostigs I wish I had better business sense when I was young.. Youre way ahead of the game... having your business in order... Proud of you & happy to learn a thing or two...

[@piusgyagenda]

Thank you for this video

[@simomagri_]

Great video man! I was wondering, how many jobs do you get on average every month? I mean, how many can make you consider your month as a "busy month"? I'm trying to understand what my next months/years will look like and if I should try to get less, higher paying, jobs or more but that pay less... Ik it depends but I wanna see what others are doing to have an idea!✌🏻

[@patrikhanning4205]

Great advice!

[@MYSTICFOR]

Thanks love from North Africa 💪

[@carlostigs]

👍🏼

[@directed.by.jardelbarbosa]

Great Video bro tnks

[@AhmdHocni]

thank u bro for a lot. from Egypt ✌🏻

[@its_alex]

Very interested in "retirement account". How do you managing that? Is that a simple bank account separated from your personal or that? Tring to find any options for long-term savings with "difficulties" or access. It is for keeping my hands away from that account when a temptation will come :)

[@carlostigs]

It’s an IRA account that is linked to my bank account and I just transfer money into i

[@Kaotix_music]

12:23 - taxation is legalized robbery.

[@Jakub-vc4sn]

It looks like so easy to run a business in US, taxes and forced retirement systems are killing businesses in most European countries

[@carlostigs]

Taxes aren’t fun here either lol

[@rominapalaciosmedia]

on your personal bank accounts, is the only checking account the first one and the rest are savings?

[@carlostigs]

Yes

[@DeanoProduction]

🐐🐐

[@LycanVisuals]

Starving artist was just never attractive to me.

[@ErinIsBlueBlue]

I totally understand and support the multiple bank accounts model. It's the way to go. Thank you for sharing Carlo.

[@carlostigs]

Absolutely!

[@JeffHanesworld]

first i need to make money 🥲