How can you turn your freelance hustle into a comfortable retirement?
During the pandemic’s peak, outsourced CFO and wealth manager Christina Gamache had a front-row seat to the tough decisions small business owners faced with keeping the lights on. She watched many decide to close up shop only to realize they had nothing substantial saved for retirement. Christina knew she could help them and opened Audax Wealth Management in response. In this episode, Christina talks to us all about the many facets of freelance finance and how we can set ourselves up for a solid financial future.
As an investment guru and a mother, she brings a unique perspective on navigating the financial upheaval of recent times. In our chat, we tackle the nuts and bolts of financial management for the solopreneur, from essential budgeting to savvy banking. This conversation is sprinkled with actionable advice, emotional intelligence, and insider knowledge that any freelancer or business owner will find invaluable. Don’t miss this episode where personal finance gets a refreshing and relatable makeover!
In this episode, you’ll learn:
- Essential principles of financial planning and management specifically tailored for business owners and how these practices can weather economic disruptions.
- Strategies for maintaining a healthy work-life balance as a working parent.
- The differences between various financial advisory roles and how this impacts investment and tax planning for your business.
- How to navigate personal finance and money trauma to foster a healthier relationship with money, both personally and in business contexts.
- How strategic time and financial management can lead to significant growth and freedom.
- Techniques for budgeting and financial planning that are specific to the needs of freelancers and solopreneurs.
- Understanding and utilizing financial statements, managing cash flow, and improving invoicing practices to enhance the financial health of your freelance business.
- Ways to find business-friendly banking options and strategies to mitigate the risks.
0:02:10 How Christina Gamache transitioned from a corporate career to starting her own business
0:06:00 Fiduciary designation and giving financial advice
0:11:56 How Christina’s experience during the pandemic led her to start her own business
0:13:14 Importance of understanding financial reports as a business owner
0:22:40 Challenges solopreneurs face with finances
0:25:16 Most important financial reports for freelancers to understand
0:35:20 Tips for budgeting as a freelancer
0:43:42 Getting capital to help with cash flow issues
About Christina Gamache
Christina Gamache is an investment manager, outsourced CFO for small businesses, and owner of Audax Wealth Management. She is passionate about helping business owners increase profitability, pay themselves, and plan their exit strategy!
Christina knows that work is just a vehicle for people to take care of the things that really matter the most. She helps owners tell their stories through their numbers and take care of their employees, families, and futures.
She has worked with techpreneurs, sports celebrities, local businesses, and other national enterprises. She regularly speaks to groups and organizations on topics ranging from women business owner trends to understanding financials and exit strategies.
Christina has a Master of Science degree in Entrepreneurship from the University of Florida as well as a Master’s Certificate in Personal Financial Planning from the College for Financial Planning and is a Certified Exit Planning Advisor with the Exit Planning Institute. Christina earned a Bachelor’s degree in International Studies from the University of California at Irvine. She serves as a board member of the Alaska Women’s Leadership Forum (AWLF), the Exit Planning Advisors of Alaska, Alaska Natural Burial, and Saint Elizabeth Ann Seton School.
Christina currently lives in Alaska with her husband and two daughters, where they fish, hike, and snowboard. She loves to travel, visiting friends and family all around the world. Her new book PROFIT, Not Loss: The Financial Guide For Women Business Owners is available on Amazon.
Connect with Christina
Noteworthy Quote From This Episode
“Ideally, I want you to be your own bank. I want you to go to yourself if you need capital. This means we’re going to have to rearrange our feelings with money. We’re gonna have to save a little bit. Start saving as much as you can so that if you do need capital, you can just tap into your own bank.”Christina Gamache
Click the player above to listen to the episode. We’re also available on all major podcast platforms including: Amazon Music, Apple Podcasts, Spotify, Google Podcasts, iHeart Radio, Podcast Addict, and Deezer. You can also find all episodes on our Buzzsprout page.
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