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Are you interested in starting a podcast but don’t know where to start?
A podcast is a great way to share your story and educate people
on different topics. I’m the host of a podcast called The Money Exchange
where I interview financial experts on various issues
surrounding finances. Here are my tips on how
to start a podcast and financially prepare for it.
1. Know Your Why
Why do you want to start a podcast? Your why is what’s going to motivate you and keep you going when you feel discouraged. Your why could be for brand awareness, to improve your public speaking skills, or to meet new people if you plan to have guests. You could just want to start a podcast for fun! Determine your why before moving forward.
2. Determine Equipment Needed
You don’t need the newest and most expensive equipment when you’re first starting off. All you need is the bare minimum. Eventually, you can evolve as you go along. Equipment you should consider buying is a laptop, microphone, headphones, recording software, and an audio mixer.
3. Choose A Budgeting Tool
Creating a budget will help you save money to purchase podcasting equipment. If you’ve never budgeted before, I recommend using pen and paper to start. It will help you become very intimate with your finances. Some other options include using a google or excel sheet, the notes app on your phone, or a budgeting app. I recommend using apps such as You Need A Budget (YNBA), Mint, or Personal Capital.
Quobe Money is another great app that lets you put your money into digital budget envelopes. Budgeting envelopes are easy and empowers to to create your own spending calories while supporting your budgeting goals.
4. Create Your Budget
A budget helps you plan your spending. It will help you keep track of all your income and expenses. How much money are you making? What are your daily expenses? Then, include the podcasting items you need and how much they’ll cost.
Make sure you prioritize your needs over your wants. A podcast is a want. Include podcast equipment into your budget and slowly cross off each item. It may take you a few pay cycles. It will help you appreciate delayed gratification. Grab a free budget sheet on our resources tab here.
5. Make Extra Money
If you find that after paying off all your expenses you don’t have enough money in your budget to get this your equipment, consider starting a side hustle! A side hustle can be anything from affiliate marketing, selling items on Amazon, or selling your skills. Affiliate marketing is one of my absolute favorite ways to earn extra money. If you want to learn how to master doing this - I got you! Go to Master Being an Affiliate so that I can help you. Master Being an Affiliate. I am also going to be speaking about this at FinCon22. Check that out If you decide to attend, I got a discount code for you. use discount code: PATRINA10 to save on the basic passes.
Fiverr is a great website where you can list your services and get paid for what you do best.
Do you podcast today? Are you considering starting a podcast soon? Let me know.
Write something about yourself. No need to be fancy, just an overview.