The Real Financial Reason Why I Quit

Рет қаралды 35,389

Күн бұрын

How much does it actually cost to run my business? This is my second year of breaking down my business expenses and the first time since my career change, so let's take a look at my stripped down, scaled back business expenses together!🌻Head to www.squarespace.com/morehannah to save 10% off your first purchase of a website or domain using code MOREHANNAH.
Patreon: / hannahwitton
Doing It Podcast: doingitpodcast.co.uk/
CHAPTERS
00:00 - Intro
04:28 - Full piechart
04:55 - Consultancy fees
05:34 - Video costs
06:08 - Podcast costs
06:50 - Workplace
07:14 - Pension
07:28 - Software/computer costs
08:12 - Accountancy
08:24 - Travel & subsistence
09:01 - Insurance
09:37 - Telephone & internet
10:15 - Styling
10:39 - Equipment
11:02 - Research
11:35 - Charitable donations
14:03 - Entertainment
14:49 - Postage, packaging & stationery
15:44 - Bank charges
15:56 - Other
16:43 - Wrap-up
SIMILAR VIDEOS
The Financial Reality of Having a Baby and Working for Yourself (2 Years Later…): • The Financial Reality ...
I lost my studio so let’s create my ideal work from home setup: • I lost my studio so le...
dreams change and that's okay: • dreams change and that...
✨WANT TO SUPPORT ME AND MY WORK?✨
Join The Common Room on Patreon! / hannahwitton
Buy me a coffee! ko-fi.com/hannahwitton
📝SIGN UP TO MY NEWSLETTER📝
bit.ly/HannahWittonsNewsletter
🌻FOLLOW ME🌻
Instagram: / hannahwitton
TikTok: / hannahwitton
💛ABOUT ME/WORK WITH ME💛
hannahwitton.com/
⭐SERVICES*⭐
Captions: rev.pxf.io/MXz6gq
Music: share.epidemicsound.com/hannah
*Affiliate links
#HannahWitton #MoreHannah

Пікірлер: 41

@PeterReidUK Ай бұрын

Was watching in the garden, and the postman walked in just as Hannah made the raspberry sound. The look he gave me 🤣

@morehannah Ай бұрын

hahaha what ARE you watching?!

@beckyt8698 29 күн бұрын

@@morehannah12:51

@elspethfougere9683 Ай бұрын

Love your numbers and pie charts hannah, thanks for being so open with us, its super helpful as a self employed person, and its fun not feeling alone with getting my head around it

@selinanatalie93 Ай бұрын

I love these Wednesday lunch videos 🎉

@16ilovevampires Ай бұрын

Always nice to look at some good old pie charts🤓🥧

@SJ-vf2yq Ай бұрын

This is so helpful! I'm starting my Masters in September and will be self-employed after that, it gives me so much anxiety from time to time but your video really put things in perspective expenses wise :)

@shellfx3542 Ай бұрын

I just finished my school year and I'm looking forward this summer to actually have the time to attend the primère of one of your future video's!!!

@DamnItsJustSam Ай бұрын

Love this series of videos, it’s so interesting!

@theaudiobookaficionado Ай бұрын

Oh i love that you mentioned the captions because it reminded me to turn them on! 😅 I always prefer watching with captions but i often toggle them off for one reason or another and forget to turn them back on because so few people use proper captions!!!

@qwertydeluxe Ай бұрын

Yes her captions are so good! It makes a huge difference to have proper capitalization, punctuation, and line breaks. None of that "one word at a time flying by" unreadable junk that other creators think is perfectly reasonable.

@ratbag268 Ай бұрын

Really informative, thank you!

@ASmokeyHaze Ай бұрын

Great video

@edie555 Ай бұрын

the lil data nerd in me loves this!! solid bedtime watch from a british gal all the way in australia

@xzonia1 Ай бұрын

I always love a good pie chart. :)

@gracefulpearl Ай бұрын

I love these business videos and learning about the economics of the creator economy!

@diplomog Ай бұрын

Thanks!

@SarasBooksAndThings Ай бұрын

What a fun video to wake up to!

@morehannah Ай бұрын

you know when you've cultivated the right audience on youtube when you talking about money and spreadsheets people are like "FUN!" 😅😅

@morehannah Ай бұрын

*and pie charts!! spreadsheets were involved but unseen in this video haha

@carinamaria_ Ай бұрын

Love it! Also thank you, because now that I as well have entered the magic world of freelancing, even if it's obviously completely different here in Italy, I get really inspired and motivated by your organization and overall enthusiasm, which atm I feel a big lack of. Think I'm gonna need a rewatch of all the business-related videos now that I kinda know better what you were talking about 😂

@morehannah Ай бұрын

oooh I hope they are helpful! good luck!

@misssnowfoxx Ай бұрын

The struggle is truly real for us freelancers who want the bank daddy to like us but also don't to pay and arm and a leg in tax - which way do we want to get screwed regarding business expenses, that is the eternal question!

@morehannah Ай бұрын

the eternal question indeed! also, lol "bank daddy" 😅😅

@IceNixie0102 Ай бұрын

In the USA, you can deduct some of your home cost at a business expense if you run your business out of your home. Talk to your accountants about the UK side of that!

@scalpandthings Ай бұрын

Please can you do a video on when you started your pension and how much to put in as a Self employed person etc etc x

@bimaloxley Ай бұрын

So wait, if I pay into my pension, I put that in my books "out" section? Or is it that the gov site asks if I pay into pension when I'm filling at the end of year?

@Brihoggy Ай бұрын

Assuming you're in the UK - If you have a limited company it counts as a business expense and goes in the company accounts as an expense. If you are a sole trader it doesn't go in the accounts and you put it on your personal tax return 😊

@alissa6380 Ай бұрын

So, did you find that the overall expenses went down from last year already because of not renting the studio in Q4, or did variation in other categories balance it out? Did the proportion between income and expenses stay the same as last year or did it change in some way?

@morehannah Ай бұрын

Expenses were a bit lower overall - I was still renting my studio in Q4 but team costs had been reduced a lot

@laurenschenck5355 Ай бұрын

So proud of you Hannah and you done incredible job and always rooting for you 🌈🌈🌈🌈🌈🌈🌈🌈🌈🌈🌈🌈🌈🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌊🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌺🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞🌞

@natalyaplatten9562 Ай бұрын

I would love a video on how you save and organise your receipts so it's not complete chaos when it comes to tax time 😂

@morehannah Ай бұрын

I’ve used the app receipt bank in the past but now I have a Google drive folder everything goes in and my accountant has access to it and they sort it all… I don’t do anything other than save them! I also have a Monzo business account which lets me upload pictures of receipts in the app and then that all automatically gets exported to a spreadsheet that my accountants have access to