Paying Yourself Like a CEO
Stop treating your freelance income like an afterthought. Learn how to pay yourself consistently and manage your finances like a CEO, even with fluctuating income.
For a long time, I didn’t treat myself like a business. It wasn’t because I didn’t care—I cared too much. If you’re a freelancer, self-employed, or a creative, you probably know exactly what I mean.
The ups and downs of fluctuating income, the unpredictable paychecks, and the constant cycle of feast-or-famine—it’s exhausting. I used to think this chaos was just part of the deal. But then I realized something that changed everything: if YOU don’t take you seriously, nobody will.
If I wanted to build something sustainable, I needed to act like a CEO. And CEOs don’t dip into company funds at random—they pay themselves like an employee, intentionally, consistently, and with a plan.
If you’ve been treating your paycheck as an afterthought, stop. You deserve better. You deserve consistency, stability, and the freedom to focus on what matters most: growing your business and enjoying your life.
Here’s everything I did to start treating myself like a CEO, even with fluctuating income and a team of one.
Separate Business and Personal Finances
The first game-changer was opening separate accounts for my business and personal finances. All the money my business earned went into a dedicated business account, and I only transferred money to my personal account once a month.
By keeping funds separated, I could easily track how much my business was making, where the money was going, and most importantly, how much I could afford to pay myself.
Know What You Need
Next, I figured out exactly how much I needed to cover my personal expenses each month. I listed everything—rent, utilities, groceries, and yes, even my Netflix subscription. For me, that number was $3,000.
Then, I added up my business expenses: software tools, marketing costs, etc. (again, thank you separate accounts). That came to $1,500.
So, my combined baseline for both personal and business expenses was $4,500. This was my non-negotiable number—the minimum amount I needed to keep both my life and my business running.
Set a Minimum Monthly Paycheck
With these numbers in hand, I decided on a monthly paycheck of $4,000—enough to cover my personal baseline and save for the future.
On the first of every month, I transfer that amount from my business account to my personal account, just like a salary.
The key is consistency. Even in months when my business earns less than expected, I still pay myself $4,000 by tapping into my reserves (more on that later).
This stability allows me to focus on growing my business instead of stressing over my personal bills.
Treat Bonuses as Bonuses
Here’s the fun part: in months when my business exceeds expectations, I don't just let the extra cash just sit there in my business account. Instead, I treat it as a bonus. It could go toward personal savings, a well-deserved vacation, or reinvestment into the business.
This way, it’s a reward for the hard work I’ve put in—not just a desperate attempt to make up for leaner months.
Why Is Important
When you pay yourself a consistent salary or owner’s draw, you create a clear paper trail of income. This clarity is invaluable come tax time.
For business owners, paying yourself appropriately isn’t just a good habit—it’s a legal obligation in many cases. If your business is an S Corporation, for instance, the IRS requires you to pay yourself a “reasonable salary.” This means you must compensate yourself for your work in the business, and that compensation must align with industry standards.
There’s also a psychological element to paying yourself consistently. It reinforces that you’re not just a hustler scrambling for cash—you’re a business owner with systems in place. This confidence extends to your business, where you’ll approach filing with a sense of control rather than dread.
Trust me, you’ve got this. It’s time to pay yourself like the boss you are.
Stay Connected with Brooke
Brooke Benson is a thriving artist, money coach, and business owner in New York City, on track to retire as a multi-millionaire. Her company, Not Starving Artists, empowers creatives, neurodivergents, service providers, & small business owners to become financial CEO’s of their life, business, and career.
