This transcript was generated from the episode audio and may contain minor errors.
[Music]
"Account It" balances books for freelancers. Welcome to Sida Soul School. Welcome as well to another week of First $1,000. A segment, in fact, that we call your first $1,000, all about how somebody got going, how they made their first $1,000, how they went from idea to income, and often they go much beyond $1,000. In fact, today we're gonna hear from someone who made $15,000 the first year of their side hustle.
They are now considering going full-time, so it's doing much better. But let's focus on how they built it, providing tailored financial planning services specifically to freelancers. Now, I'm always talking about how important it is to specialize one way or another, so that's exactly what this person has done. Her name is Jackie, she is an accountant. She specializes in freelancers.
How did she do this? Let's hear her story. I'll be back at the end with a quick wrap up. [Music]
Hey there, my name's Jackie, and I'm an accountant turned financial planner for freelancers. My side hustle journey began two years ago when my best friend, a freelance graphic designer, confided in me about her financial struggles.
She was making decent money, but had no idea how to manage it effectively. That's when I realized there was a huge untapped market for freelancers who needed specialized financial guidance. I started by offering my services to my friend and a few of her freelancer buddies. I helped them set up budgets, understand their taxes, and plan for their financial futures. Before I knew it, I had a steady stream of clients coming to me for help.
One of the key services I offer is tax planning. Freelancers often struggle with understanding what they can write off and how to estimate their quarterly taxes. I help them navigate this complex landscape and ensure they're not leaving money on the table. For example, one of my clients, a freelance writer, had no idea she could write off her home office space in the writing workshop she attended. By helping her identify these deductions, I saved her thousands of dollars.
I also help freelancers establish retirement plans, like SEP IRAs, which many don't even know they're eligible for. It's incredibly rewarding to see my clients get excited about saving for their futures and realizing that they can have financial stability, even without a traditional nine to five. Another important aspect of my work is helping freelancers manage their cash flow. With irregular income, it's crucial to have a solid plan in place. I work with my clients to create emergency funds, set aside money for savings, and establish clear financial goals.
One of my clients, a web designer, came to me with a tax bill he couldn't pay because he hadn't been setting aside money throughout the year. We created a plan to get him caught up and developed a system to ensure he'd never find himself in that situation again. To reach more people, I partnered with two freelancer-focused organizations to offer workshops and webinars. At one of these events, a woman approached me in tears, thanking me for the guidance I provided. She said she'd been struggling for years, but after implementing my advice, she finally felt in control of her finances.
That moment reaffirmed me for the importance of the work I'm doing. In my first year, I made 15,000 for my side hustle. That was fine since I was doing it entirely part-time. Now, two years in, I'm making enough to consider quitting my day job and pursuing this full-time. It hasn't always been easy.
There were times when I doubted myself and wondered if I was crazy for taking on this extra work. But every time I help a fellow freelancer achieve their financial goals, I'm reminded of why I started this journey in the first place. It's been an incredibly rewarding experience to help others take control of their financial lives. And it's been great for me, too. [Music]
All right, Jackie, thanks so much for telling us about your first $1,000.
In fact, your first $15,000, it sounds like. And so glad to know that the business is now thriving, almost going full-time. Love it. Listeners, I hope you found it encouraging. If you have a question and update about your hustle, anything else, sidehustleschool.com/questions.
This has been episode 2,711 2711. I got much more coming up. Tomorrow, we're gonna talk about building chatbots. Building chatbots, how do you do that? Well, let's talk about it.
Tomorrow, in the new episode, always completely free. Listen wherever you want. My name is Chris Guillebeau. This is Side Hustle School. [Music]
From the Onward Project.
