Learn how to budget
Learn the basics about setting up a budget and taking the time to manage the earnings and investment in your channel.
Balancing your life and YouTube
If you’re into your channel and want to stay on track, stay happy, manage your to-do’s -- and hopefully make a little money -- it’s important to take a look at how you spend your time. It can make a big different when you balance the time you spend on your channel with the resources you have and your other life priorities. Here are some things to take stock of:
- How much time do you work on your channel each week?
- How much time do you want to spend on other activities important to you like hobbies, friends, family, or anything else?
- Are there areas where you might be able to hire someone to help or purchase equipment to save you time? If you can pay someone less money than it takes for you to do the job, you may want to consider hiring out.
- Can you make the most out of every video shoot by shooting footage for more than one episode at once? try capturing more footage than you think you’ll need, like extra b-roll footage, behind-the-scenes clips, a quick vlog, or outtakes. Then you can reuse the extra footage in new ways.
Set a budget
Are you hoping to make YouTube videos full-time? Or did you just hit the 10K subs mark? Whether you’re thinking about getting more serious about your channel or exploring the business side of it, you’ll want to plan for how much you have to spend.
Think about expenses that include costs like: space rental, gear, travel, props, talent, post-production, etc. Come up with a reasonable monthly spending limit for your channel based on your current income or how much you want to spend. Then decide how much money you will spend on each of your channel-related tasks or equipment. Plan for future income, and think carefully about spending money that you haven’t made yet.
So, what am I really earning?
The total amount of money that you make is called your earnings. To find this number, subtract what you spend (your costs) from what money you make (revenue).
Revenue - Cost = Earnings
There are four different types of costs you might want to factor in that can help you predict what you’ll spend money on:
- Cost of doing business (aka forgone additional revenue). Example: the part of the overall earning that you don’t receive, like taxes, fees, etc.
- Cost of making videos (aka direct variable costs). Example: buying (or fixing) video equipment, miscellaneous purchases like memory cards, batteries, mics.
- Cost of living your life (aka fixed/monthly costs). Example: rent, monthly mobile phone or internet bill.
- Hidden and non obvious costs. Example: hiring a social media manager or when friends can’t help you for free anymore.
How can you track your most recent YouTube income?Try it now
For your most recent YouTube earnings, you can review estimated earnings for your channel and videos with the Estimated earnings report.
Why doesn't your payment history page match your unpaid finalized earnings?Try it now
The payment history page in your AdSense account won't show you estimates of YouTube earnings activity and is updated after the end of the prior month to reflect any adjustments. To see estimated earnings from your YouTube content, please use YouTube Analytics.