Photographer, pay yourself a photographer’s Salary!
You take pictures, and people pay you for them. A bit of a racket, really. The only hitch is that your income from this dream job is wildly unreliable.
If you’ve been shooting for any length of time, the question of how to structure your cash flow has no doubt occurred to you. The people at NinetyNineBeans have heard your cry, and have assembled [this piece] just for you: a ridiculously common-sense set of guidelines for getting yourself set up on a regular income, in one of the most notoriously episodic income-generating careers around.
Here’s the assumption your friends at NinetyNineBeans start out with: that you are like most photographers, and pay yourself from one project to the next, whatever is left over after you’ve covered your expenses. The result, of course, is a roller-coaster income stream and virtually no financial security. “Tsk, tsk,” say they—not in so many words, of course—“you really should place yourself on salary.”
Perhaps the words “Photographers salary” in close proximity seem a bit too oxymoronic for comfort? (Or some kind of moronic, anyway.)
The NinetyNineBean people wisely choose to ignore this implied criticism of their professional competence, and continue, without missing a beat, “…And here’s an easy one-two-three for getting yourself into position so that you can do just that.”
Of course, placing yourself on a salary involves certain complications, forcing you to project and manage your cash flow, and develop a tracking system for your revenue and expenses.*
*not that these aren’t things you should be doing anyway.
The good news: their steps are commonsensical and easy to implement. Within a few months, you should be in position to be drawing a regular Photographer’s salary every month, or perhaps weekly or semi-monthly. You get to figure that one out…it’s your money, dude!