Finances of a Full-Time YouTuber (taxes, budgeting, etc)

[@bestdressed]

thank you so much for the shoutout!! :) also when you can, consider incorporating! ideally an s-corp (around $2000 to start) but you could also do an llc (i think you can do it online for like $300-400). it's def an investment upfront but you get to avoid that hefty self employment tax which adds up over time. it also might be worth considering a manager if negotiating with companies is taking a large portion of your time + stressing you out (i remember drowning in emails that took up like a full day per week and it inhibited my ability to make more videos).

[@withlovee_MJ]

the kind of kindness this world needs is in this comment, i love both of you omg ♥

[@LukeAlexander]

Legends supporting legends

[@EktaDwvedi]

@@LukeAlexander aren't you a legend yourself!

[@darioamir2577]

I guess I am kinda off topic but does anyone know a good site to stream new series online?

[@alissad.8793]

The part about "getting paid monthly" was so interesting to hear because that is common procedure where I live. Part-time job at a restaurant or manager of a company, you get paid monthly here (unless it's a vacation or temporary job, then it's either weekly or bi-weekly). So it was kinda funny to hear that in the US it is apparently common to get paid every two weeks and how getting paid monthly can be tricky because you have to keep track of all your finances for a whole month. It's something I'm so used to doing that that I never realised in other countries the payment system works differently and that it could be difficult to adapt to.

[@accountsequity5587]

Alissa D. Yup, every 2 weeks ✌🏼

[@Eniphesoj90]

Same, never knew that! I think people used to get paid weekly (like when most people still worked in factories and stuff like that), but I don't think anyone under like 70 can remember that. I am used to montly even for minimum wage jobs and I would probably get confused by getting paid every 2 months as everything else (rent, electricity etc) is monthly haha.

[@plump7345]

as a broke university student... i really appreciate this video! glad to know i'm not the only one struggling to restrict myself lol

[@seethaldoki448]

Honestly this helped me so much too!! - broke af college student

[@LukeAlexander]

It’s 1am here in Brisbane and I was gonna go to sleep until I saw this! Thank u for making this Tiffany ❤️

[@denimili7659]

Hey Luke! I always watch your videos XD Greetings from Mozambique

[@lucykortsmusic]

Luke Alexander Same though

[@katet1541]

Always feeling so proud when u talk about ur channel growth :’)

[@andgainingspeed]

Chipotle? Maybe you need to start a cooking series? 🤔 Get a sewing machine (used) and start a series about making you own clothes? Record video chats with your sister wherein she instructs you how to do your hair so you don't have to travel across the country. Do a travel series but only within a 20 mile radius of where you live and brand yourself as the low carbon travel guru. 😅 Mo content mo money.

[@TommyStubbs]

"it's easy to fall into a lazy trap with bad time management" she says as I watched her channel all day rather than doing any of my freelance work lmao

[@imjustsayin34]

Tommy Stublaski sammeee

[@marina6582]

As someone who’s the same age as you and in the same life situation (college, debt, working) it’s so nice and refreshing to see someone else that can relate. And it’s so helpful to see a KZbinr talk about this!

[@HumansOfVR]

*_Congrats on being a full-time KZbinr! You Inspire smaller channels like myself

[@Anna-pd6dc]

It sounds like a cash envelope system might work really well for you. I'd love to see an "I tried cash envelope for a month" video too! Maybe a no spend challenge too?

[@cammyebel2494]

I admire you for so many reasons but mainly for being so transparent with your life. You have made me feel so much better with college, debt, political opinions, & everything. So many of us are in the same boat, but nobody talks about it. I will forever be a fan!

[@ToraNagumanova]

I feel so motivated to work and stay accountable for my finances even though I live with my parents and have 0 responsobilities! You really inspire smaller channels as someone already said. Thank you for being so open!

[@adrianrayofsunshine]

you're such a cool person. i love watching your videos bc you just seem so intelligent, kind, and funny. keep being you! great work

[@emhummingbird]

i love your videos you’re so educated and honest, how tf am i just finding you recently lol

[@inestellstales]

you read my mind... I found her yesterday lol

[@InstrumentManiac]

As someone that does KZbin and music gigs part time this was so refreshing to hear someone talk about it openly! It's almost like we all have our (excuse my word choice) side hustles adjacent to one another but never discuss them. Thanks for bringing it into the light. Always enjoy the amount of time and thought you put into your videos 😊 Luke, MN

[@butterbeer8651]

Really refreshing to hear someone say that it's hard to say no to yourself. It's so true, especially when it comes to food. Enjoyed your honesty, and this video def helps with my own financial journey! Thanks again for sharing!

[@c.w.r.794]

The real question is: Does KZbin pay taxes?

[@Vy-gu6nh]

Yes you have to pay taxes from earning KZbin money.

[@xsouleaterx10]

@@Vy-gu6nh i believe the question is if youtube, the company, pays taxes?

[@Vy-gu6nh]

@@xsouleaterx10 oh... Yeah i replyed to the comment before watching the full video. There's a video from a different KZbinr that answers that question tho.. That is, " if " i remember correctly.

[@eleo_b]

T G • I’m sure the have some tax avoidance structures in place in some tax haven somewhere in the world.

[@RJKaur]

No KZbin pays you the full amount and you're responsible for taking out the taxes to pay when it's time

[@jordan7027]

you're another KZbinr i take my ad-block off for before i watch a video and watch all the ads, get that $$$ 👏🏾

[@Anna133199]

I took my ad block off for the whole website. It'd be such a hassle to take it off for specific youtubers.. And why watch videos of people when you don't want to support them?

[@PlantBasedBride]

I recently went full-time as a youtuber (before I was making enough, but due to burnout at my day job) and it is SO stressful and confusing! I love it and want to continue on this path, but it’s pretty overwhelming 😅

[@ASMRKay_]

I love the every dollar app! You can totally get the paid version and write that off on your taxes since it for your business. (The plus version syncs your accounts so you don’t have to input every transaction) And I tried the cash envelope while I was paying off debt and it helped so much! Not for things like the grocery store but for shopping on more inessential things. Loved the video girl!😊

[@bribriannairb]

I. FEEL. YOU. I’m a freelance graphic designer (2 years out of college, worked full time for a year and quit bc I was miserable lol) and related to this sm. I stress out about money (and debt) all the time but am so overwhelmed I avoid budgeting, but this was great and so helpful

[@pettybroccoli4265]

I used to spend a lot of money at chipotle too! But recently I've started making burrito bowls at home just throw in some corn, brown rice, black beans, sour cream, lettuce, guacamole (store-bought), a little queso, and some taco bell hot sauce and you're good to go, baby! Price breakdown: canned corn: $.60 canned black beans: $.99 Brown rice: 1.85 sour cream: 1.99 guacamole: 2.88 queso: 5.89 Total: 14.11 however, I usually can get around 2 or 3 meals out of this so it's about 4 - 7 dollars per meal ***edit: I didn't include the price of the taco bell sause because I grab them by the handful when I go.

[@lea856]

I always wondered what will be the You Tube lifespan of popular You Tubers. Most I see are very young maybe even under 25 so will they still be doing the same at 35 or 45? It be cool to research that but since You Tube is not that old it might not be possible yet. I do see family channels that get huge and paid so will that last? Many of the middle ground beauty you tubers I follow seem to be getting that money or at least they portray this image which is not always reality but I always wonder will it last? Are they saving? As for you will you get a full time career with your college degree or stick to You Tube?

[@lunalove9395]

i also wonder how long youtube will last - especially family channels as once the kids grow up, they'll pretty much no longer have content, but i think a lot of the big youtubers seem to be trying to 'branch out' (like joe sugg has his agency thing, some have written books or started clothing lines etc). some have degrees as well so i guess they have that to fall back on, or could maybe use their experience to manage social media/edit videos for a company or something.

[@eleo_b]

Dona Junta • but many families of young KZbinrs have made money than that would have working a regular office job. You have to look as KZbin as practicing top sport at a young age. Cash in and save for later.

[@lunalove9395]

@@eleo_b maybe so, but i doubt the majority of them are setting up trust funds or savings account so that the kids are getting an equal share of the money. i bet if you looked at accounts etc, its mostly just parents paying themselves a wage. most people are tuning in for the kids and not the parents (especially young fans) so they should be the ones seeing most of the money. look at how many child stars have come out and said their parents stole their money or sued them, or they reached 18-21 and found their 'trust fund' empty. i also wouldn't really compare it to athletes as they train so hard and put it a lot more effort to youtubers.

[@lea856]

@@lunalove9395 I was gonna say that did unfortunately happen to a lot of child stars.

[@lea856]

@@eleo_b yeah i hope they are saving though but i know many twenty somethings you tubers are living a lavish lifestyle. Those I hope are saving because when they get older they might not be as relevant.

[@iloveh2oshow1]

I just really love how real you are through the screen it's so nice to see someone who I can relate to so much. I've been bingeing your videos and I'm SO glad that I found your channel!

[@mymindfulhome1013]

Thanks for being transparent! "What matters is what you spend not what you earn" That was a remark I was told once from the older generation

[@taurotix4604]

Thank you so much for being so honest about subjects that people pretend don’t exist lol. As someone who doesn’t pay taxes or the like yet (hell yeah to youth), these videos are so important to watch. Also, you just seem like the type of person I’d want to be best friends with. Please never stop sharing your story and making videos :)

[@Cordellium]

Would love to keep hearing more on this as you go along. Thanks for the transparency Tiffany, just found your channel recently and really am enjoying it.

[@mimmi8959]

It's fun that you post more here because I think every single video you post is interesting and fun to watch!

[@aiba6540]

I love both of your channels. As you said it’s extremely important for people to be more candid especially when selling products to people. I’m not on KZbin (yet) but I am self-employed because I’m a realtor and budgeting and goal setting has been key. We need more content like this.

[@MoonlightSecret1]

This is one of the most relatable personal finance video that I've seen. Thank you for sharing! Got get those financial goals!

[@jesslesinski]

So, I’m almost 10 years older than you and your level of maturity and insight just amazes me sometimes. I know people my age and older that haven’t figured out some of the shit you’ve figured out. It seems like it’ll take forever, but you’re still so young and you’ve got a lot of time. You got this, Lady!

[@ianaspages]

I feel your pain girl! I have a credit card dept and I constantly thinking about it and hoping to cover it up this year cause it's just a torture

[@thepurplepalace85]

Such an insightful video! So happy for you that you’re full time and getting your degree 💫💜

[@eleo_b]

I’d be much more worried about not having health insurance than about student loans. It’s all fine when you’re healthy, but when you become ill, those bills quickly add up to an equal amount as your student loans.

[@nicholasn.2883]

I’ve got some KZbin channels that might be useful: 1. Graham Stephan 2. Two cents 3. Best the Bush 4. Joshua Fluke 5. TechLead 6. The Graham Stephan show 7. Cherry Tung 8. Financial Education All of these channels have taught me SO much about finances and anything money related. Btw, I love your content. Tax 👏 write 👏 offs

[@islandtingles41]

I use everydollar and love it. I actually bought the year long subscription, because you can link it up with your bank account and then the transactions automatically show up in the app, and you drag and drop into the categories. Worth every penny

[@actuallyclaudia]

My problems working as a freelancer in the film industry - no holiday leave, feeling like you can’t take a break for fear of missing out on potential jobs - super is always tricky - not a lot of benefits like paid leave - waiting up to 30 days for payments - having to track 50+ employers for tax time I also usually work on a percentage system. So I try not to worry about how much I earn each paycheck by instead putting like, 50% of whatever paycheck into a savings, 40% for daily expenses and 10% for splurge money. I find that method means I don’t need to stress about how much I spend because I’ve kind of done the work for me.

[@personallyjoua]

I paid off $25k in school loans in over 5 months between my husband and my income, plus found other ways to make quick money (sold a car, budget, eat on rice and beans). We paid $2,500 each month. i hated paying $600 min each month too and felt sick and tired of that minimum progreesss. YOU CAN DO IT!!!

[@queenofscrolls7585]

Your honesty is really refreshing thanks so much girl!

[@MarjorieQuinn]

About the no health insurance. If you are under 25, live in NY, and a student you should be eligible for free or very low-cost insurance for New Yorkers with low income. Also, you can stay on a parent's employer health insurance plan until age 26 even 29 depending on the plan. I would look into it.

[@isitamoguel]

Have you ever considered making a video on how brand names (Gucci, LV, Balenziaga) are such a big deal now thanks to influencers and celebrities?

[@heysisters9528]

hey you probably won’t see this but i don’t know what it is about you!! i have a terribly short attention span and can’t watch videos past 10 mins for some reason. but i can watch your videos and never lose interest!! it is crazy to me because your the first youtuber that can suck me in for half and hour and make me think it was 5 minutes!! crazy man but also love your channel sm!! much love

[@slickjumpedoverthelazydog]

good to see somebody opening up at youtube

[@HoloHoloAdventures]

Great video! Really useful information and thank you for the honesty.

[@xVanillaxBerryx]

I love your long videos! I play them in the background (but of course I have to take a look here and there) while I'm working in my room

[@ClayCraftCoffee]

Thanks for the video Tiffany. It was really enlightening! I want to be self-employed in my future but am terrified it will just be working 24-7

[@mythicalmelodies276]

I am soooooo glad that somebody finally made this video. I was especially waiting to hear how taxes worked for self employed people, especially KZbinrs and I never saw anybody say it. And I do the same thing with my credit cards. I don't like using my debit card online so I tend to put online bills on my credit cards and then end up not paying enough back in. And food is my weakness too. Chipotle isn't even crazy expensive, and i don't eat huge amounts when I go out but i live alone and at the end of the day if I don't want to cook I'm not cooking. I think my food cost monthly is $300 and I want to reduce that but I'm weak. I used to get by with $200.

[@gracegore8935]

was 100% worth it to stay till the end, not only for the transparency and wealth of knowledge, but for the lit remix at the end

[@Caitm13]

I feel you. I also supported myself through college but I ended up working 3 part time jobs. It was stressful. I'm out of school now and looking for full time positions, but I'm in a similar place trying to budget my student loans into my income.

[@seleciaa]

Hi Tiffany! I'm here from your credit card payoff video. I'm pretty sure that I will be going into a freelance translation career after I get my BA, so I appreciate seeing how someone like yourself manages things. :)

[@andreayannelli5795]

I looooveee these type of videos, please keep us updated!!

[@CassidyParkerKnight]

Have you ever tried YNAB? I think you’d really like it, it’s like the cash envelope system, but with a little more flexibility, and they make it easy to build your sinking funds. Highly recommend!

[@Sophmorical]

You could try a balance transfer card for your credit card debt! I transferred my cc debt to a 0% interest card so I get 12 months to pay down my debt with no interest. If I can't pay it off in 12 months, the new interest rate is still lower than the interest rate on the old cards. It's the only reason I feel like I'll be credit card debt free by the end of this year!

[@brynnmcdonnell2260]

I found you when I was doing my own research on family youtube channels and now I'm hooked!

[@TheChristineHuang]

For self-employment taxes, I recently started using Catch and it's an app that helps put away money for taxes! They have some other features too but that's the primary one. It's free to use rn and I find it really helpful for keeping me on track for the self-employment tax payments!

[@TeaLeafNeeka]

You’re so refreshingly open, I love it!

[@elenafrye1883]

Personally for small savings I find using basically the envelope method to collect money super valuable. Get little envelopes and an index card case, label them, and save the coins and small bills you get when you have money leftover from budgeted amounts or you find loose change. Every few months I trade it in for a gift card at no cost at a coin star, and then trade that for cash with someone who wants the gift card. Then I have bigger bills in there that are super motivating.

[@bippbopp]

thank you for making this video! i'm thinking about starting my own channel and this is super helpful. also i will keep clicking your videos - they are awesome!

[@diidada]

I love these budgeting videos! I budget everything and I don't always stay in my budget, but that happens sometimes! It's hard to know everything in advance. I'm trying to be better though and not do too much mindless spending, because it's not fun to see that you went over your budget.

[@harpoonlobotomy]

If you need to keep a credit card for repeated payments and emergencies, take it out of your wallet and put the card on top of a bookshelf. If you ever need it, it's still there, but it removes spontaneous purchases and forces you to really examine if you need to go into debt for {thing}.

[@iliveforzelda]

The system i had was using a savings account where i can only take money out once a month without fees. I put my paychecks in and take out my entire buget out at the end of the month to prepare for the next month. This includes allowing myself to have a good amount of budget for fresh produce etc.

[@avadg4699]

this was so insightful!!! thank you for being so honest, it's refreshing.

[@hannahstokes1065]

I’m in high school and I’m not old enough for most retail jobs right now, so I’m dipping my toes in the self employment field. I’ve been doing dogsitting for years, and it got passed down to me from my sister once she went to college (family business I guess😂). So, even though I don’t have bills, I’m saving up for a car and other things that I need to pay for while I’m still living at home. It’s definitely difficult not having consistent hours, and that’s my biggest issue. It can be two times a month, maybe two weeks for each job, but that’s an “if”. I usually don’t know what my jobs are until two months in advance, so I never have an idea of how much I’m going to make until the appointments are scheduled. It’s a big test and I recommend anyone who’s in high school to try dog sitting or babysitting, something that is self employment because you learn a big lesson on finances and self control for spending. Loved the video!

[@amandamitchell4722]

I hope the algorithm blesses you because one of your videos was on my Home page. I'm now subscribed:)

[@BlancaPerdomo]

You’re definitely right about how money is so taboo. We can talk about sex comfortably but can’t speak about money. I have debt and although it’s not huge as others, when you have a baby, it’s definitely crippling. I’ve been trying to save and pay off my credit cards ( which are the culprit) but just like you said, sometimes you have to use them in order to get things like food, diapers, formula etc. but I’ve made the conscious decision to leave my CCs at home. I want to be debt free ASAP! Here’s to getting debt free!!!

[@MissInformed10]

"Self-employment taxes are a bitch." Amen, sister!

[@whatever5922]

Hi Tiffany, have you ever thought of opening an acorns account? It rounds your purchases on your account and then starts saving it, so say something you buy is $9.72 cents, the remaining 28 cents to reach $10 dollars will be added and they stack up eventually! Then that money they invest it into save investments (i have never had a loss, the increases are minor but steady) and now I have over $200 saved from acorns alone without moving a finger and I don’t really notice

[@michellejamesina6530]

Business coach here: there are a couple different systems you can use to disburse your monthly payments into weekly installments to help you budget. You can also set a monthly maximum for your budget and put any additional money into savings to weather famine months. It gets tricky when you're dealing with paying down loans (I've got crazy student loans too, lol), but having several months worth of expenses in your savings is a HUGE weight off your brain.

[@PixelPlasm]

TIFFANY omg this saved me, my friend is trying to start a small business and watching a bunch of "freelance bookkeeping gurus" wasn't getting me anywhere 😂🙏thank you for this!

[@rebeccahorne4465]

From a financial standpoint if you are already in credit card debt then pay that off first instead of making savings because of the interest on the credit card. Better to pay it off asap so you aren't paying as much interest.

[@madelcyfuentes6709]

the last seconds were AMAZING LOOL great video, thank you for sharing on this topic!!! It´s truly enlightening :)

[@osnapitzgigi]

i’m trying to start up on youtube and this was soooo helpful thank you so much! your content is amazing and so inspiring , i always look forward to your uploads ❤️

[@OMGitsShrimp]

I’m venturing into freelance writing and finances has been on my mind a lot. I haven’t made money yet but want to be prepared as much as possible. I’m excited but so nervous. This video helped A LOT tho. I’m mostly concerned about self-employment tax 😓😰

[@jkalous100]

Thanks for this candid view inside the KZbin game. It sounds like SO much to juggle! Kudos to you for keeping on top of it. It’s sounds like a very difficult job.

[@emilieroberts4958]

The cash system is a fab idea, I did it solid for about 6 months and saved much more money bc I was never transferring between savings accounts bc I wasn't looking at it. BUT it was really had to track down HOW I spent money bc I couldn't refer back to statements, so I think pairing it with a spend tracking app would be like revolutionary haha

[@ThatEllenGirl]

That lifestyle inflation bit is too real. It can sneak up on you too. I recently moved to a place with lower rent and I was like “yes! I can finally pay off debts and save more” but still somehow had no money. I took a hard look at my spending for the last couple of months, and I’d been spending way more on shopping and food than I was saving in rent because I felt like I had more money. Definitely not doing that anymore.

[@flowerkomal367]

Yess I love this! it’s so informative and helpful

[@isadoraklock1991]

i`m living for the rap section of this vid. pls create a soundcloud profile. love u good luck w them debts

[@MonochromeRainbowz]

Thanks for your candor! This was so insightful & helpful. 👍🏾

[@xtremely04]

I laughed so hard at 6:28! Just watched those 10 secs over and over! Thank you!

[@ambernotaro3241]

I'm an independent contractor this year and I was told to save it so you earn interest on your savings. I am worried that I'm not saving enough but I'm pretty sure I do!

[@lifewithkayy1816]

I’m currently using the envelope system I love it because it helps me spend money wisely . But at the same time it’s so hard when you have a child & not making enough money 😩😩.

[@Samalys71]

If you don't have health insurance call the company the bill is from and tell them you're " self pay" and you can negotiate your bill down or split it into payments!

[@Sr7b]

I've been looking for so long for a video with advice like this lol thank you so much! I'm having so much trouble staying motivated while working for myself- any advice?

[@LaurenSchwartzbard]

Thank you so much for your videos! You are always so honest and informative.

[@lcrjones5220]

Could you talk about how you got involved in KZbin/how you started? Thanks

[@eighteen7287]

in france (hey from Nimes!), we only get paid once a month so it's always weird for us when we hear americans talking about pay dayand getting their checks every friday

[@marrriexo]

I love you so much omg student debt is lol but also not. Love that you capture that feeling ✨✨😭♥️

[@poniesandproteins]

Does it actually benefit youtubers if viewers watch full ads instead of skipping? I've heard other viewers say that, but I thought the adsense payments were based on video views in general, so im mostly wondering if its worth letting the ads run through for smaller creators.

[@PlantBasedBride]

theparaplegicbarbie I believe we get paid more if our viewers watch the ads through or click on them than if they skip, but I don’t know 100%! It’s pretty confusing for us, as creators, as well 😅

[@meganeff]

I love these kinds of videos because it shows a more personal side of you like the old days! ....old days. Like a few years ago was that long. 😂

[@HappyLuckyLooney]

In US you get payment every week - 2 weeks? In Poland it's normal you get your salary once a month.

[@EverythingBeeLikes]

I LOVE YOU FOR TALKING ABOUT ALL OF THIS

[@GigiNally]

I love to unironically listen to finance talks ty

[@000AnnA000D]

Could you maybe make an internet analysis video on the personal finance/spending habits of popular youtubers and how that influences their viewers (who are often children/teenagers)

[@sylwiam.7228]

I think talking honestly about money is sooooo important - thanks for bringing up this topic! Also, you may find interesting another youtuber's debt payment journey: her name is Aja Dang :)

[@sylwiam.7228]

lmao, I wrote the comment below before you mentioned Aja :D

[@victoriacanduelailundain9970]

AYAYAYAYAYAY ANOTHER VIDEO😱😱🙌

[@Pexzee]

What I didn't quite understand is the safety net on a zero interest savings account rather than paying off the credit card debt and using the credit card as the safety net as you do now.

[@StaticLines]

THIS IS SO INTERESTING THANK YOU

[@amymarie9107]

Can't watch right now but just wanted to tell you how MUCH I LOVE YOU!💜💚💙💛💖