organizing finances for freelancers

Ep93: How to Organize & Prepare Your Finances As a Freelancer | Mastermind Q&A

If you’re a freelancer in the entertainment industry, there’s a 95% chance you are unemployed1. Even worse, the remaining 5% who are fortunate enough to still be working right now will likely run out of work soon as current projects are finished and delivered.

We’re staring down the barrel of nearly a 100% unemployment rate in Hollywood, and the chances of there being any sustainable work for us in the near future are slim to bupkis. Let’s face it: The cameras aren’t rolling again anytime soon.

No matter your present financial circumstances, it’s time to accept that things aren’t going back to “normal”, and you need a financial plan to weather this storm.

Having reached out to many people in the entertainment industry, those who subscribe to my newsletter, as well as after polling the members of my coaching & mentorship community, I’ve learned that the vast majority of people are far more fearful of the unemployment market than they are of our current global pandemic.

In today’s episode I provide a candid look at the struggles many in the entertainment industry are facing specifically with their finances in an ‘All Hands On Deck’ Community Q&A call with my ‘Optimizers.’ We talk about the most pressing challenges many of us have with reorganizing our finances, having a clear picture of how long we have before running out of cash, and ways to better prepare for both the current circumstances as well as for the future.

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Useful Resources Mentioned:

Ep88: The ‘Profit First’ Financial System (That Gives You the Freedom to Say ‘No’ to the Wrong Gigs) | with Mike Michalowicz

Government support for creative professionals impacted by COVID-19

Ep91: How To Reduce Anxiety and Take Back Control During COVID-19 | Community Q&A

FEAR: How to Protect Your Mental Health From the Infection Far Worse Than COVID-19

Ep90: How to Stay Productive (and Stop Procrastinating) During Your Next Hiatus | with Debby Germino

Our Generous Sponsors:

This episode is made possible for you by Ergodriven, the makers of the Topo Mat, my #1 recommendation for anyone who stands at their workstation. The Topo is super comfortable, an awesome conversation starter, and it’s also scientifically proven to help you move more throughout the day which helps reduce discomfort and also increase your focus and productivity. Click here to learn more and get your Topo Mat.

Show Credits:

This episode was edited by Curtis Fritsch, and the show notes were prepared and published by Glen McNiel.

The original music in the opening and closing of the show is courtesy of Joe Trapanese (who is quite possibly one of the most talented composers on the face of the planet).

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Note: I believe in 100% transparency, so please note that I receive a small commission if you purchase products from some of the links on this page (at no additional cost to you). Your support is what helps keep this program alive. If you have any questions, please don’t hesitate to contact me.

Zack Arnold (ACE) is an award-winning Hollywood film editor & producer (Cobra Kai, Empire, Burn Notice, Unsolved, Glee), a documentary director, father of 2, an American Ninja Warrior, and the creator of Optimize Yourself. He believes we all deserve to love what we do for a living...but not at the expense of our health, our relationships, or our sanity. He provides the education, motivation, and inspiration to help ambitious creative professionals DO better and BE better. “Doing” better means learning how to more effectively manage your time and creative energy so you can produce higher quality work in less time. “Being” better means doing all of the above while still prioritizing the most important people and passions in your life…all without burning out in the process. Click to download Zack’s “Ultimate Guide to Optimizing Your Creativity (And Avoiding Burnout).”