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Your Solo Summer Survival Guide

When summer rolls around, you're probably daydreaming about vacations and lazy days soaking up the sun. But don't forget to keep your income in mind.

Spending your summer solo? Being a solopreneur means navigating seasonal ups and downs without a team. However, this season can be a chance to recharge and strategically manage your finances.

Here's your no-nonsense guide:

1. Forecast Your Finances: Summer can be feast or famine for clients. Analyze past trends and create a "high" and "low" income scenario. Use this to adjust your budget and build a buffer in your savings (ideally before summer hits).

2. Project Pay, Not Paychecks: Solopreneurs often treat themselves like businesses, not salaried employees. When setting project rates, factor in your vacation time. This ensures you're paid even when you're off the grid.

3. Embrace the Off-Season Hustle: Don't wait for clients to find you. Use downtime to network, revamp your online presence, or tackle marketing projects. Investing in your business during slow periods fuels future growth.

4. Automate Your Savings: Temptation is high in summer. Set up automatic transfers from your business income to a dedicated savings account. This "pay yourself first" strategy ensures you are building a financial safety net, even with fluctuating income.

5. Vacation on a Budget: Who says a getaway has to break the bank? Explore staycation options, take advantage of free outdoor activities, or plan a road trip to less expensive destinations. Remember, a change of scenery can do wonders for both your personal well-being and your business creativity.

Bonus Tip: Track expenses diligently. This helps you identify areas to cut back and free up cash for personal needs or business development.

By following these tips, you can navigate the summer as a financially savvy solopreneur. Enjoy the sunshine, take some well-deserved time off, and come back refreshed and ready to crush your business goals!

What’s Happening at Carry?

Here’s what you can expect in the coming weeks

See the full list of events here. ⏰

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If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:

• The Solo 401k handbook 

• The Roth IRA handbook 

• The Self-Directed IRA handbook 

• The Guide to Paying Less in Taxes

• What is a Solo 401k?

• How to Open a Solo 401k