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Your Financial Stack as a Creator
set yourself up for success
Grace Lemire
March 04, 2025
Hey.
This week, we’re talking about money.
Not just making it—but managing it, keeping it, and growing it.
Because everyone talks about how to monetize your channels, but nobody talks about what to do with the money once you have it.
In today’s newsletter:
Perfecting your financial stack as a creator
MrBeast’s playbook for success
Duolingo’s viral content strategy
Your Financial Stack as a Creator*
You don’t have the luxury of a steady paycheck as a creator. There’s no built-on 401(k) set up for you, no benefits, and you’ve got a more complicated tax situation waiting for you.
This makes your financial stack that much more important.
Banking
This is where all your hard-earned dollars flow. You need a business-first approach, even if you’re a solo creator.
This means having a business bank account that’s reliable and easy to use.
Can you use your personal one?
Technically, yes. Is it recommended? No.
Mixing personal and business can make tax season more complicated than it needs to be because:
It becomes difficult to identify which expenses were personal vs. business.
If you’re ever audited by the IRS, having clean records is better.
Business Bank Account Recommendations
Credit
The right business credit card can earn you insane perks. Of course, we’re biased here, but here’s what the Karat Card includes:
1-3 points back on every dollar spent
Redeem points for Time Square billboards, statement credits, and more
Credit limits based on your socials and cashflow
No fees
Remember: use credit wisely.
Taxes
Increasing your income is important, but keeping more of it is too. That starts with having a proper record of your income versus expenses.
Bookkeeping Software Recommendations
Xero (designed for small businesses)
Wave (also designed for small businesses)
QuickBooks (more robust, but less user-friendly)
In Creator Bootcamp, CPA Kevin O’Connell recommended hiring a CPA once you’ve hit $200k in revenue.
However, if you have another job, several 1099s, employees, or a more complicated tax situation—hire a CPA sooner.
As a Karat Banking customer, we’ll connect you with our tax partners to streamline this process.
Invoicing Tip 💡
Pro tip—try to keep invoicing to just a few platforms (ie. Stripe). I know, brands tend to send payment in different ways, and we don’t always have a say.
But the fewer platforms you invoice through, the fewer 1099s you’ll get at the end of the year. (AKA less stress)
Investment Vehicles
You work hard for the money you earn. Let it work harder for you. Investing allows your contributions to grow, without you lifting another finger.
When it comes to investment accounts, you have several options. This is not an exhaustive list, just an overview:
Account | Income Limit | Pre-Tax or Post-Tax Dollars | Withdrawals |
|---|---|---|---|
Roth IRA | $165,000 (if filing single) | Post-tax | Tax-free withdrawals in retirement. |
Solo 401(k) | None; In 2024, you can contribute up to $23,000 as an employee or 100% of your compensation, whichever is less. As an employer, you can contribute up to 25% of your employee’s compensation. This is often used for businesses with an S-Corporation election. | Pre-tax | Withdrawals taxed as ordinary income. |
SEP IRA | None; You can contribute up to 25% of an employee’s compensation, capped at $70,000. Employee contributions not allowed. | Pre-tax; Contributions tax-deductible for employer. | Withdrawals taxed as ordinary income. |
Brokerage | None | Post-tax | Withdrawals taxed as ordinary income. |
*Contributing after-tax dollars means you won’t see tax savings today, but typically you won’t have to pay taxes on it when you withdraw. This is beneficial because most people assume they’ll be in a higher tax bracket come retirement.
Investment Platform Recommendations:
Carry (designed for business owners, user-friendly but robust)
If you’re unsure of your investment strategy, consult a financial or investment advisor (but be careful).
Financial Advising
It’s wise to consult a financial advisor. Small mistakes, like contributing money to an investment account but never investing it, can cost you millions.
But make sure you’re working with a fee-only fiduciary—advisors who charge a flat fee, not a portion of your investment gains.
A great platform for fee-only advising is Nectarine. You can sort through the list of available advisors to find someone with knowledge on your specific situation.
MrBeast’s Playbook for Success
MrBeast was recently on the Diary of a CEO podcast. He shared some of his greatest tips for success. Here’s the TLDR (reported by Business Insider).
Long-Term Employee Retention
He seeks coachable candidates who see value in his mission. No hiring mediocre people.
Train someone for a year, then get 9 years of dividends back when they crush it.
Handling Negativity
“The more good you do, the more people think you’re secretly evil.” The hate has taught him to not let the internet determine who he is.
Managing Risky Decisions and Uncomfortability
Risk excites MrBeast. He credits his high threshold for risk for much of his success.
He also basks in uncomfortable situations. He said, “If my mental health was a priority, I wouldn’t be as successful as I am.”
Quick Links
🎥 Is CapCut gone for good?
🦉 Behind Duolingo’s recent viral content strategy.
💼 Media kit for landing brand deals on LinkedIn.
This Week in Creator Studio
This week in Creator Studio (our free Discord community) we’re interviewing Josh Mattingly, CEO at Upright Media—a consulting company that helps top YouTube creators:
Streamline their operations
Scale their businesses
And focus on what they do best—creating content.
*Disclaimer: I am not a financial advisor and the contents of this newsletter should not be taken as financial advice. Consult a financial advisor for advice tailored to you and your financial situation.
See ya next week,
Karat