How to manage your creator business income

⁉️As you start to invest in yourself as a creator, certain questions might arise:

• What’s the point of a business bank account?
• Why can’t I use the same account for my work and non-work expenses?
• What’s wrong with Venmo and PayPal?

🤔Let’s debunk some common myths about business banking:

• "I'm just a creator, not a business. I handle everything through Venmo."
• "Using my personal account for business transactions won't make a difference."
• "My talent manager takes care of all financial matters."
• "A business bank account is unnecessary until I expand.”
• “I don’t make enough money to matter”

🔍Here's the truth: If you’re a creator, and you’re making money, you’re a business. It doesn’t really matter how much you make, just that you have a legit intent to profit. And that you’re keeping your business income and expenses separate from your personal stuff. 

💼 So, what's a business bank account? It's a toolkit designed for businesses. But here's the twist: creators have unique needs. You need invoicing, payments, expense tracking, analytics and tax ease. That's where business banking comes in – all your money in one place, making your life easier.

Managing money: If you’re dealing with money coming in and going out, having one place to keep track of it is super important. This helps you spend money smarter. 

Tax savings: Knowing how much you're making and spending is really handy for doing taxes. You can pay less in taxes, avoid missing deductions and skip extra tax prep fees.

Rewards: You can receive rewards and cashback on everyday purchases with Creative Juice's debit card.

Banking relationship: Create a banking partnership with a company that understands your creator business. A trusted financial partner can help you with taxes, community and financing.

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🫠How to stress less about your creator business:

• Begin with a business bank account: Start by getting organized and get a Creative Juice account to help you set up a dedicated creator business bank account. Having a home base for your revenue, expenses and invoices is lowkey, key.
• Cash flow tools: Cash flow is easy to predict in a 9-5 situation. That’s not the case in the business of being a creator, which can make it hard to invest in yourself. This matters because as busy as you are, a little cash flow management makes your business more predictable, which can result in growth. And…less stress. Every successful business has tools to manage cash flow. Creator businesses should too. Juice offers real time metrics and insights on your cash flow, so no need to worry.
• Separate your personal and business expenses: With Juice’s automated and customized creator tax tools, you can categorize your personal, business and mixed expenses to make tax time a breeze. 

Okay, how are we feeling? You might be feeling overwhelmed. We get it, but there are so many ways to manage your business effectively.

Need help? Sign-up for a banking account today and chat with our team in Discord.