In 2015, I left my full-time job to devote all of my efforts to building Money After Graduation. I’d like to say I was organized and top of things right from the get go, but in reality it took me more than 12 months to really get my business working, particularly my business finances. Believe it or not, one of the things I struggled with most was paying myself. How much should you pay yourself when you’re self-employed? A good rule of thumb that I wish I learned in my first year of business is: For up to $250,000 in gross revenue, you should pay yourself 50% of what your online business earns. So if your business is earning $3,000 per month, $1,500 should be going straight into your pocket as net personal income, and $1,500 should remain in the business to help it grow. This suggestion comes from the […]
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