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Jessica Moorhouse is an entrepreneur and freelancer living in Toronto. We talk to her about managing variable income as a freelancer, figuring out how and what you should reinvest into your business, and getting burned on online courses.
We also chat about…
- Invoicing
- Reinvesting in your business
- Couples finances
- Home ownership
- Entrepreneurship
She was an absolute delight to speak with! Enjoy this chat with Jessica, and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- Jessica’s Website
- Mo’ Money Podcast
- FIRE Drill Masterminds
- Making Sense of Affiliate Marketing Course
- Donna Freedman’s Blog Writing Course (use code FIREDRILL for 20% off!)
- AND.co free business software
- Freshbooks
- Pinterest Traffic Avalanche Course
- Pinterest Strategies book
- Paying Sallie Mae Back
Key takeaways from our chat with Jessica Moorhouse
1 – Include a late payment clause in your contracts
Worried that clients will pay late? Jessica handles this by including a late payment clause in her contract and she enforces the fee. Companies don’t pay late anymore.
2 – Put a portion of your business aside to reinvest back in the business
Jessica recommends that entrepreneurs put a portion of their income aside to reinvest back in themselves and their business. This could be courses or a sales coach.
3 – Separate finances can work as a married couple!!
Jessica and her husband are both entrepreneurs and freelancers so it makes combining finances more complicated. They have a joint account and at the end of the month they figure out what they each owe and put it into the joint account. They’ve been married for 5 years with no problems at all.
Besides their joint accounts, they keep all of their investments completely separate. In Canada, they are taxed as individuals too so they don’t worry about combining finances for tax benefits.
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