Financial Tips For Twenty-Somethings Who Want to Build a Brand
In the world of business, the concept of “building a brand” is constantly changing. Now, there is not only a focus on specific company goals, but personal achievements as well. When you build a personal brand, you’re engaging in a specific community that highlights your interests, and you’re also focusing on your reputation and how others perceive your name on the internet. In addition to the creative side of establishing an individual empire, organizing a financial strategy is an imperative part of the process. There will be times when a budget is necessary when establishing possible partnerships, advertisements and business deals that can help bring your personal brand to the next level.
To successfully be your own CEO as a twenty-something, consider these financial hacks to help your brand:
Identify Your Strengths and Weaknesses
No matter the phase of life your brand is in, and more specifically, when popularizing your brand name, it’s important to analyze your budget to effectively define both the strong and shaky points of your current financial strategy. If the financial side of building your brand is something that you haven’t looked into quite yet, no need to fret! Defining your personal goals can happen at any point in the process— it’s only going to improve and change your money-related decisions for the better and set a clear vision for what you expect.
Create a Reliable Budget
The more time and hard work you put into your personal brand, the more you’ll inspire others to follow your journey. More paid business opportunities can come along with this, so it’s vital to account for a spending and saving limit for each category of your business. Say you want to organize a brand partnership or a sponsorship that requires a payment-- with a reliable budget, you’ll have a strong backbone for an unexpected fund that can potentially grow your brand without worrying about a potential bank account scare.
Consider a Personal Finance App
If you’re someone who is constantly on the go and want to utilize as many tech-savvy conveniences as possible while building your brand, why not make controlling your finances easier? Personal finance tools or a mobile bank account require zero additional fees, and no in-person visits when opening up a savings account or monitoring your statements. Since you probably will be constantly checking social media, a blog, or an online shop while putting yourself out there as an influencer, it’s important to take advantage of the financial platforms that can be accessed whenever you need them.
Save Money for Your Future
During your twenties, it can be easy to spend more than you originally anticipated, especially when you have an overarching goal to increase your brand’s popularity. It’s important to remember that even though you’re young and may only want to worry about certain short term expenses, it’s important to take your future into consideration, and build your savings as early as possible for a lifetime of financial and business success.
The Bloggers: Kathryn & Emma
Kathryn and Emma are the bloggers behind FashionablyFrank.com. Emma is the travel, beauty, crafts and DIY guru. Kathryn is the mastermind behind career and general organizational life hacks.