My Streams of Income: Making $50,000 a Month
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- čas přidán 21. 07. 2024
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F R E E R E S O U R C E S
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L I S T E N T O T H E P O D C A S T
▸ The Chillpreneur Podcast (iTunes, Spotify)
C O M E S A Y H I
▸ Instagram: @erinmayhenry
▸ Website: https//chillpreneur.co
S H O R T B I O
Erin May Henry is an entrepreneur, CZcams content creator, and founder of The Chillpreneur Company
** This video is not sponsored
I would like to acknowledge the Wurundjeri people, Traditional Custodians of the land on which this content has been created. I would like to pay my respects to their Elders past and present. - Zábava
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Thank you sis for sharing this heart felt content I appreciate it. I believe everyone needs to find what gives true financial freedom and happiness. Making passive income is really cool I will try this in addition to my investment income 🤗
Yes everyone loves making extra money because Having a 9_5 is not a dream any longer
Yes I'm glad to be able to earn an extra income by investing. I earn about 5k and more in a month or 3 weeks
@@svetlanalena3208 wow impressive you're making quite a fortune how did you do that I would like to learn?
@@maxdmitry1912 I started during the COVID pandemic and I put some money from my salary to invest. I have a professional who guides me in building a good investment portfolio
Fantastic idea I need a reliable professional i’d like to start soon inv esting
I love your videos, but they are getting darker and darker (not in the meaning but litteraly in the video) even with the full light on my computer i'm having trouble watching it.
I would love to see/understand the transition from working for yourself to paying yourself out of the business, especially as you are still a personal, one-person brand!
This is a great idea I would love a video on this too please Erin 🤩
Absolutely!!!
You pay yourself from your business by taking an owners draw or shareholder distribution or putting yourself on payroll
Congratulations Erin! I’ve watched your channel over the years, and it’s so inspiring to see your growth. Thank you for your transparency and knowledge.
This was so helpful! Sometimes it’s nice to have examples modeled so thank you so much for your transparency and sharing with us!
You mentioned you’re not hustling very hard right now + of course your business is established + you’ve gotten it to this point!
Would you say that there is a season in the past of hustle for you that was necessary to get your business to this point?
Or has it been steady work + effort that was simply a matter of time to get you to this point?
I feel like that’s where I’m at currently. I’m always at a tug of war of “should I be doing more? “ thank you💜💜
Thank you so much Erin for sharing! I appreciate learning from you and seeing the average and where everything comes in from for income and how much you pay yourself! It's my dream to coach with you!
Wow! Wonderful! Thank you for your transparency. I'm in the stages of deciding what I want to do with my life. You've helped me to see more clearly the path I should take.
Your videos have helped me reach over $300,000 in trading by age 24! Thanks Erin May Henry. Keep the videos coming. 👍🏽
Congrats ! .
I'm convinced that the big investors and analysts are trying to scare us to keep us poor and ignorant to the market.. because its steady doing good after all the jobless and market crash talks
Congrats and wishing you the best .
@kim sun When I was 21 ,but you need a finance Pro if you don’t want to loose and if you want to be more successful.
@kim sun Follow⬇️⬇️
I love your vibe so much, Erin! This is so insightful and I really appreciate your honesty. Would love to work with Chillpreneur one day
Loved this video! Really inspiring as I'm considering merging my own coaching with being more of an influencer because it's fun to express myself that way, can I ask you which courses and mentors are you investing in at this point? Thank you
Your video quality would increase a great deal if you invested in some lights, it's quite dark.
Thank you so much for sharing this. I always wondered how do the youtubers deal with taxes, etc. I want to start my own business, but I'm not into content creation or consulting, or much else really. Either way, watching you channel (which I discovered 2 days ago) is helping me to find some motivation. Thank you, Erin!
ok so! this was super interesting, I'm an Aussie, and paying myself is confusing. You mentioned personal tax and business tax? I havent made a profit yet (all what ive earned this year has gone to my credit card to pay off my coaching i invested in, so i havent had to worry about this yet. my accountatn said i pay tax on my profit. Is this something i need to talk to my accountant about to understand (personal taxvs business tax)? coz it confuses the heck out of me!
Erin this video is the best behind the curtain I have seen. I love your energy and transparency!
How inspiring! My next goal is to have a 15k month! Working my way up there
That’s amazing!!!!! ♥️♥️♥️
Love your transparency- often we impose ceilings without realising what others- and we can earn x
I’m actually very interested in how you pay yourself and all those details! I’m relatively new to making money this way and the taxes/logistics are something I’m trying to get right 👌🏼🙌🏼
Thank you so much, Erin, for this video. It's helpful, and I appreciate your honesty and authenticity. Much love. xo
Hi what do you do about failed payments? So many customers on Stripe fail payments
Thank you so much for your transparency. It's incredibly motivating and helpful.
More behind the scenes content please!!!
Thank you, Erin.You always bring so much value and I'm super happy you're back on youtube.
I am so glad you enjoyed it my love!
Love the transparency here! Thank you
Thank you for being so open, it’s so inspiring 🥰
Good for you! loved your transparency :)
Erin! This breakdown was sooooo helpful. Thank you!
My absolute pleasure x♥️♥️
Loved this sooooo much !!!!! So insightful
Love how open and transparent girl! You are literal boss girl goals! 😍🙌🏻💞
Wow Erin thank you for opening my mind 💕 my question is as a beginner on CZcams in DIY space, how much should I be posting to build an audience and what idea for a course can I create? I was part of your membership but took a small break.. what can I offer people in a course to help them get from A to B?? Would love some tips.. kind regards. Katherine (Melbourne gal) xx
Here's how to make money:
Create courses and coaching on how to make money.
this is cool, thanks for the transparency! what platform do you use to host your courses on?
you dropped this on my birthday. This is the second really cool thing that happened behind the scenes on my birthday that I found out about today. Happy birthday again
This was so helpful and such goals! Thanks beaut 🤗
My absolute pleasure x
I am struggling to figure out what kind of freelance assistance I need. What are your four freelances responsible for?
I have a business manager, copywriter, accountant, assistant and also a pinterest manager- (I don’t include the account ad it’s not ever month I use the work)
Thank you Erin
For sharing this video, so simple and transparent🤗 u inspire me so much😍😍
absolutely this is a wonderful video. thumbs up ! bb
It’s so inspiring to see an Aussie female in this space, Thankyou for sharing ❤️
That was really insightful, thank you Erin. I have a question (and please excuse my ignorance, I am pretty new to all this)- if you made $50K, paid yourself $10K, then paid your expenses and freelancers, what happens with the remainder? If you essentially ARE your business, with the services you provide etc, what do you do with what's leftover and why doesn't it end up in your personal bank account? Thanks for your content, love how open you are.
It's not leftovers, it's the bussing revenue. The business needs its own separate saving account for growing, unexpected expenses, etc. Basically the business is it's own entity with it's own money.
It's the business' profit margin. I was also surprised she didn't address it.
I would guess it stays in her business operating account or savings account.
-Taxes for the business 🏛
-Savings for the business 🏦
-Equipment for the business if she's still paying🎥
-Paying employees if she has any👩💻🧑💻👩💻🧑💻
-Platforms that she uses to keep her business running🖥
Just also depends on her but that's the jiff for most businesses. Give or take
It just stays in the business bank account for savings/cashflow. When you take money out of the business you are taxed 43% so it’s a lot!!! It’s actually a real issue many people with sole directorship to a business face and is why there is illegal stuff that happens like people funneling money etc. for me I am going to look at investing through the business, but either way you cannot avoid the tax of withdrawal so I trying to keep it as low as possible.
Why I haven’t discovered u long time ago ??? Thank u
🦊, I like that Boston accent.., and thank you for content
Hi! Thank you for sharing this! It’s really insightful and inspiring 🥰 I have one question, do you think it’s possible to succeed in coaching without putting yourself out there as an influencer? I’d love to help people in this way and create courses and even individual sessions. But I don’t want to put myself out there on YT or Instagram. Also, “success” for me could be a lot less than 50k because I live in a third world country and the cost of living here is way cheaper. If I managed to make 5k a month it would be amazing. Do you think that would be possible without becoming an influencer? Thank you! I love your videos 🥰
Hi Valeb,
My name is Amanda
That's something I also wanna work on as well. Although I am considering doing youtube now. I'm also based in a third-world country so my first goal is basically $1000 a month then going up to $5000 eventually
This is such a good question, I hope she makes a video on this!
How do we sign up for 1 on 1 coaching from you instead of the community membership?
Hey beauty! Send me a message on DMs ♥️
@@Erinmayhenry I messaged you on your Instagram:)
Realist person ik on youtube 💜
love this info!! But @Erin May Henry why is this video so dark? Makes it hard to watch lol
Just got done watching the whole video and Wow! I am so impressed with your honesty! I love how you show us exactly what you're doing and how you make your money!!
For women they say it's rude to share money info or some people don't want to share because they want to hide it for fear of losing money themselves!
But your success comes from others succeeding and that's what I REALLY love about you and your business
I really wanna know how much of this is real!
I'm really happy for you. I am surprised how much you're making from one on one mentorship. Obviously, you're time is very valuable.
It also has a lot to do with the return on investment ♥️♥️
☺️
This was so helpful Erin! Does your house rent come out of the $10k you pay yourself or is that a separate expense?Thanks for your transparency as always!
That is separate, my house rent - this one is a bit confusing and I’m not sure I fully understand it myself but I can claim 60% of my rent on the business so I pay it from there and then it’s lodged at 60% and I am taxed the rest personally or something again this is not advice because it’s all through my accountant but please speak to one for you needs!!
In the US we can claim a certain % for home office use as a deduction
Thank you for sharing .. was curious how much is from CZcams or Instagram :)
I make nothing from IG! And CZcams is about $600 at the moment but when I was uploading before my break it was about $1500 x
@@Erinmayhenry thank you so much Erin for sharing .. love your content
Ever heard of lighting? Only joking. Thanks for the vid!
Haha no don’t worry i made this too dark! Getting my lights from storage tomorrow 🤣
Can you set it up all this business for me to get started? I’ll pay you to create it. And then sign a legal contract with you that you get 50% of the profits. Any deal?
Are you taking clients??
This. This is what I’m manifesting 👸🏻❤️
♥️♥️♥️
EXPANSIVE
This video is to dark. U need better lighting.
Mrs Charlotte is the best, recommending her to all beginners who wants to recover from their losses and gain more like I did through her strategies
Yeah
Thank you for your transparency. You’re such an inspiration 💕