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budgetting

Gaah.. The saving money to jump ship plan is not going well. The saving money part. December in general is a bad time for savings because of all the gifts, but also we're starting to scope out travel plans for next year, and I am traveling a lot as usual. But we want to do a big trip in Dec 2011, and one of the ideas is Peru. So that is not cheap. In addition I need to fund my ballet camp trip in August, and also I'm considering a wedding photography workshop in Toronto in May. I can sleep in a hostel, which would be cheap, but flying there and the workshop cost needs to be covered.

In addition, I need another camera lens. I've an 85 1.4, and a 50 1.8 that I use all the time. I need a wide angle lens. And then I need to start paying for monthly equipment and liability insurance.

Gah. Starting a business is expensive.
I've 2 booked for 2011, my goal is 20.

Anyways, yesterday Andy and I celebrated our 5 year dating anniversary. It was low key, with a trip to P Terry's, watching Tangled, and then he gave me a full body massage. Half a decade together. Who would've figured.

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( 13 comments — Leave a comment )
preservationgal
Dec. 29th, 2010 05:25 pm (UTC)
equipment costs and overhead is pretty much why I am not interested in starting my own business. Because even if it only takes (for example) $5,000 to incorporate an LLC, get supplies and rent space, RUNNING it and making it PROFITABLE and then being able to live off that is really really difficult.
ripresa
Dec. 29th, 2010 05:28 pm (UTC)
Yeah, that's why small business loans are important. In my case I'm just funding it from my other job.

But it is possible to succeed, takes hard work and good luck.
preservationgal
Dec. 29th, 2010 05:57 pm (UTC)
There's also a gray area in which the business is profitable but the margin isn't high enough to live on.

That's my major fear. That I'd open a business, get it into the black and realize I'd spent 110% effort to tread water.

But you're in a much different place than I am.
zuleikhajami
Dec. 29th, 2010 05:48 pm (UTC)
What are your priorities? Couldn't you just not do a big trip until your photography business is on firmer footing? I love travel, too, but delaying Peru (and even ballet camp) for a year or two doesn't seem that bad if it lets you get out of your job sooner.

I don't know enough about how taxes work with one-person businesses, but are you at the cross-over point where you can treat Nadine Studio as a business rather than a hobby? If so, the workshop, lenses, and insurance are at least deductible business expenses.
ripresa
Dec. 29th, 2010 08:30 pm (UTC)
My business is already real. It's registered and stuff.

I don't mind working an extra month for Peru and another extra month for ballet camp and stuff. It's just that each big trip pushes back the jump ship date.
bittercrackbaby
Dec. 29th, 2010 09:18 pm (UTC)
Did you get E&O along with the equipment/liability policy? Do you have a 2nd camera body? Enjoyed your shots, and hope 2011 will be a good year for your business.
ripresa
Dec. 29th, 2010 09:59 pm (UTC)
What's E&O?

I do have a second camera body.

Do we know each other? :)
bittercrackbaby
Dec. 29th, 2010 10:50 pm (UTC)
Sorry for the ninja post. :) I read patrissimo's friends list from time to time so I see your posts.

E&O is errors and omissions, was curious if you were advised to take it at the starting stage.
ripresa
Dec. 29th, 2010 11:20 pm (UTC)
I don't remember being advised so.

Ah Patri. Please don't judge me by Patri :-P
__bin
Dec. 29th, 2010 09:34 pm (UTC)
If you came to Toronto, you could stay with me for free!

I know what you mean about saving money. I'm looking at the possibility of quitting my part-time job (which is 3/4 of my earnings) to go to school in September, but I can't seem to get my savings past the 4 digit mark.
ripresa
Dec. 29th, 2010 09:51 pm (UTC)
Whaaaat! *awesome*

Where do you live? The workshop is downtown at the Spoke's club. If you live too far I can just stay at the hostel (Canadiana backpacker's inn) which is a few blocks away.. and then stay with you guys while I explore Toronto. I've actually never been to Canada.

I love Livejournal :)

http://www.davinaplusdaniel.com/workshops/



__bin
Dec. 29th, 2010 09:54 pm (UTC)
That place is probably about 1/2 an hour from us on public transit. I'm not sure if that sounds far to you or not, since my sense of how long it should take to get somewhere is totally thrown off by the fact that I commute 1.5 hours to work on the subway in the morning 3 days a week. ;)
ripresa
Dec. 29th, 2010 09:58 pm (UTC)
oh that's not bad at all!!

You're freaking awesome. Thank you :)
And i'll be so happy to return the favor if you ever visit Austin, Texas.
The workshop is May 10 and 11, I'll prob do that for two days, and then spend 3 days exploring Toronto :) Don't feel pressured to entertain me the whole time, I'm good with just wondering around, but it makes it less intimidating knowing a familiar face. (or livejournal icon).

Yay!! This makes things so much better.

( 13 comments — Leave a comment )

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