The New Rules of Running a Side Hustle in New Zealand
About this episode
This episode discusses how to properly manage finances when a side hustle starts generating significant income.
Your side hustle is making real money. Now what? Because when the income is real, things are growing, you can suddenly realise the whole operation is held together with sticky tape and good intentions. Income from a job, income from side work, all of it landing in the same personal account with no clear picture of what's coming in, what's going out, or what any of it means for tax time. This week on Ask the Experts, James Gibson, head of Revolut Business, walks through exactly what to do when a side hustle outgrows its informal beginnings. It’s a question that a lot of self-employed New Zealanders will recognise: how do you set up your finances properly when your side hustle starts making serious money? This episode is proudly supported by Revolut Business. Sign up online and get a one-month free trial at this link https://get.revolut.com/e9Jc/makingcents1 T&Cs apply, subscription fees will apply at the end of the trial, see website for details. Revolut Payments New Zealand Pty Ltd. This episode covers: When to open a separate business bank account for your side hustle How to manage multiple income streams without losing track What happens if you mix personal and business…
People in this episode
Host: Frances Cook
Guest: James Gibson
Topics covered
- side hustle
- financial management
- self-employment
- business banking
- income tracking
- budgeting
Keywords
- side hustle
- business bank account
- income streams
- tax time
- self-employed
- financial systems
- budgeting
- cash flow
Sponsors
Revolut Business
Mentioned in this episode
Places: New Zealand
More episodes of Making Cents
- The Kiwi Teenager With Four Businesses Bringing In Six Figures
- The "Safe" Place for Your Money Is Not What You Think
- I Put Solar On My House. Was It Worth It? (Numbers Breakdown)
- How to Embrace Ambition Without Burnout, with Mindset Coach Sarah Robb
- Make Money And Save Money Through The Secondhand Market
- The Hidden Areas Of NZ Where Houses Don't Cost As Much
Explore listener stats, chart rankings, contacts and more on the Making Cents podcast page.