We asked successful entrepreneurs and creatives to tell us about whether they have a budget and how they think about spending decisions and have shared some of their responses below.

Charlesa Hopkins | Clothing Designer

We always have a budget. Budget’s are crucial in projecting the future of the company. It’s always important to know profit/loss in order to avoid overspending. Saint Mantra has definitely helped me be more responsible with my personal spending habits, because at anytime and really all the time I have to be prepared to invest back into SM. Rather it’s buying materials, manufacturing, etc Read more>>

Sean Clark | Filmmaker

The way I look at budgeting for my business and my personal finances is to always take care of yourself first. Every time I get paid I split it up by priority, I put money in my savings first. That includes emergency funds, new gear or long term savings, then I make sure I pay bills on time. I never like to gamble on paying bills late and having my credit docked that ruins your credit score which then makes you ineligible for certain perks that come with paying on time. Then whatever I have left over becomes recreational activity money like weekends with friends or family, but even then I like to put it back into my savings if I can so that if I ever experience an unexpected expensive situations and I don’t have work lined up I have some cash to keep me afloat. Read more>>

Eli Capella | MC, Singer/Songwriter & Youth Educator

Yeah. I go by a zero-based budget and I have an emergency savings fund of (at minimum) $1,000 to (at maximum) 3 times my monthly expenses. My lifestyle decisions are based on three budgets: my diet, my money, and my time. These 3 forms of budgeting are vital to my physical, mental, financial, and spiritual well-being. I have a small studio apartment and I’m not making a six-figure income yet, but as a believer in Christ, I believe in being prepared to shoulder the weight of my future blessings. Therefore, I take care of my modest income, modest living space, and modest schedule as if I’m already the successful person I plan on being in five years. Read more>>

Antonio Higgins | Creative Director at AHP Studio

In regards to budget, personal finances, lifestyle and financial decisions one book has helped me the most with fingering out how to manage my company AHP Studio. FABAS; Freelance, and Business, and Stuff written by Jennifer and Amy Hood the co-founds of Hoodzpah. They are twin sisters funning a design studio in Orange, country California. In their book they provide formulas for finding your billable hours per year, hourly rates, flat rates, when to raise your rates, perceived values vs cost and creating a financial plan among many other useful tips, resources and templates. I would highly recommend this book to anyone wanting to get a good sense of the business side of running your own studio or just having a better understanding of how one operates. Read more>>