What I've learned about money after 1 year of indiehacking
Finance and accounting is a topic few people talk about when it comes to indiehacking and building a business.
It looks boring and if you don't do right, truth is that you are gone (unless if you have lots of money to pay tax advisors & accountants).
Here are a few things I've learned so far...
- All the details of my country's tax system and company legal forms
- How to do proper budgeting and set financial goals
- How to do forecasting and plan for the future
- How to use spreadsheets properly
- How to invest my profit to avoid taxes
- How to invest into assets to generate future income
Truth is that I've no financial education and I don't know all these since I was always into freelancing and full-time employment. But I slowly get better every month!
Steps I am taking to learn all these:
- Google search and read a lot about tax-related stuff (double pain for me cause everything is in Dutch here in the Netherlands and I am an expat)
- Read "Rich Dad Poor Dad" and understand the mindset of rich people https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194
- Research for low-capital assets I can buy to generate income (e.g. buy a boat to rent during summer to tourists)
- Read and then read some more - Here is a great YouTube channel from Sorelle that could be helpful for you as well https://www.youtube.com/channel/UC9lKBRxxsDIarUmNaPe0h0Q
That's all so far - There are many things to learn in the future but I am excited for the journey 🤩
If you are new to my journey, on June 2020 I quit my job with a year of savings (32.000€) to chase my dream of becoming a full-time IndieHacker. I had no specific plans or project ideas to work on. Only a goal, some savings and my skills. Since then I share every week what happens behind the scenes.
Feel free to join me on my journey, and to check all the updates I 've published so far!
