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Learn How To Budget And Save Money And Time On YouTube

Budgeting is the process of creating a plan to spend your money wisely and effectively. 

Now, it’s the time to set up a budget, and take time to manage your earnings and invest in one of the greatest video platform world-wide, YOUTUBE

=➔ Practical Steps to Budget

Make a balance between YouTube and your life

If you really love what you are doing on your YouTube channel and your want to take your project to another level, go further and earn extra money, then it’s important to look and reconsider how you spend your time. It can make a big difference when you rationally balance the time you spend on YouTube with the resources you have and maybe your other life priorities (family, job,friends..)

Here are some simple steps you need to follow when you are budgeting :
● How much time you dedicate to your channel each week ?
● How much time you intend to spend on other activities, like hobbies, friends, family ?
● Is there any possibility to hire someone to help to purchase equipment to save your time ?
● Can you make the most out of every video shoot by shooting footage for more than one episode at once ? 

Here’s a good idea : try to capture more footage than you think, you will need like a quick vlog, behind the scenes, clips..You may reuse the extra footage in a new creative ways.

Budgeting Basics

Are you thinking about getting more serious about your channel on YouTube ? 

Are you aiming at making YouTube videos full-time ? 
Or you just want to hit the 10K subs mark ? 

That’s great, but in all cases, you need to think about how much you have to spend. 
In other words, you need to think about expenses like space rental, gear, travel, talent..
Come up with a reasonable monthly spending limit for your Youtube Channel based on your actual income, or how much you intend to spend on each of your channel-relates tasks (in case you have more than 1 channel) or equipment. 

Think about your future income, and also think about spending money that you haven’t made yet.
The amount of money you can make is called ‘’earnings’’. To find this number, you simply need to subtract what you spend (costs) from what you make (gross income or revenue).

Revenue– Cost = Earnings.

In general, there are 4 types of costs you might want to factor in that can help you predict how much money you will spend, and what you will spend your money on :

Cost of doing business (aka forgone additional revenue). For example: the part of overall earning that you don’t receive such as taxes, fees..

Cost of making videos (aka direct variables). For example: buying video equipment, miscellaneous purchases like mics, memory cards, and batteries.

Cost of living (aka fixed/monthly costs). For example : rent, monthly mobile phone and Internet bill.

Non obvious costs. For example : hiring a social media manager, or when your friends refuse to help you for free anymore.

=➔ Move To Action :

Now, it’s time to write down how much time you want to spend with the following activities each week : shooting your videos, writing the script and editing your videos, and tweaking your channel to make it shine.
Create a budget and write down how much money you can spend in your total budget, then break down how much you want to spend for each item in your budget.

=➔ Boost and Check Your Knowledge

How do you calculate your earnings ?

● Subtract what you spend from money you make.
● Sustract what you earn from what you make.
● Subtract your estimated monetized playbacks from your estimated earnings.
● Review your Demographics report.

2) How can you make the most out of each shoot while staying on a budget?

● Make playlists.
● Hire lots of extras.
● Shoot with many cameras.
● Shoot more than one video on the same day.

Buying fixing equipment for your YouTube channel can be considered what type pf expense ?

● Hidden costs.
● Costs of living your life.
● Costs of making videos.
● Cost of doing business.

=➔ Frequently Asked Questions (FAQ) : YouTube Channel.

How can I track my most recent income ?

Answer : Concerning your most recent Youtube earning, you can review estimated earnings for your YouTube channel and videos along with the estimated earning report.

Why my payment history doesn’t match my unpaid finalized earnings ?

Answer : the payment history page in your AdSense account will not show you estimates of YouTube earnings activity, and is updated after the end of the prior month to reflect any possible adjustments. 

In this case, you may use Google Analytics to check your estimated earnings from YouTube.

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