Paying Yourself Consistently as a Photographer: How to calculate Your Consistent Pay and Fund it even in slow months
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What to expect on this episode of the Hey, Thriver Podcast:
Paying Yourself Consistently as a Photographer: How to calculate Your Consistent Pay and Fund it even in slow months
🎙️ In this episode of the Hey, Thriver podcast, Shayna and Devin sit down with financial coach Gina Knox to talk about:
How to Pay Yourself as a Photographer or Videographer: Why not paying yourself is actually the fastest way to kill your business—and how to fix it.
The Cash Flow Waterfall System: Gina breaks down her no-fluff three-account system for managing income, saving for taxes, and giving yourself a raise.
The Problem with Percentage-Based Pay: Why using percentages to decide your paycheck or save for taxes is setting you up to fail.
Money Mindset and Capacity to Have: What to do if you’re constantly broke, not because you don’t earn enough, but because you can't hold onto money.
Paying Yourself Consistently as a Photographer: How to calculate Your Consistent Pay and Fund it even in slow months
In this episode of the Hey, Thriver podcast, Shayna and Devin sit down with financial coach Gina Knox to break down how photographers and videographers can start consistently paying themselves—even during slow seasons. Gina introduces her signature Cash Flow Waterfall system, shares why percentage-based pay strategies fall short, and explains how your mindset around money directly impacts your ability to grow. Shayna and Devin get honest about their own finances, and Gina offers a practical, no-fluff approach to turning your creative business into a financially sustainable one.
Paying Yourself Consistently as a Photographer: How to calculate Your Consistent Pay and Fund it even in slow months
On this episode of the Hey, Thriver podcast, we had the pleasure of interviewing powerhouse financial coach Gina Knox, who helps entrepreneurs pay themselves, ditch debt, and stop treating their business like an expensive hobby. Gina’s approach is equal parts strategy and mindset, and she gave us a crash course on how to build a business that actually supports your life—starting with consistent pay, even in your slow seasons.
Paying Yourself Is a Business Strategy
In the episode, Gina broke down the myth that not paying yourself is noble or necessary when building a business. In fact, she argues the opposite: if you’re not compensating yourself, your business isn’t sustainable. She’s seen it firsthand after working with over 800 small businesses, and the pattern is clear—entrepreneurs who don’t prioritize owner's pay often burn out or shut down. Gina reframes paying yourself as a non-negotiable business expense, not something you “earn” after hitting a magic revenue number.
The Cash Flow Waterfall System
To make all of this actionable, Gina introduced us to her Cash Flow Waterfall system—a refreshingly simple way to manage finances using three bank accounts: checking, working capital, and tax savings. Your checking account covers monthly expenses and pay, working capital is a buffer you pull from in slower months, and your tax account ensures you never get slammed with a surprise bill. By tracking monthly averages (not percentages), you can build in a consistent paycheck that grows with your business. Gina also stressed that saving too much for taxes is common—and inefficient—if you’re basing it on total income rather than taxable income.
Avoiding the Percentage Trap
One of Gina’s hot takes (that totally changed our thinking) was her firm stance against percentage-based pay systems. Her reasoning? It reinforces inconsistency. When your income varies month-to-month—as it does for most creatives—basing your pay on percentages guarantees stress. Instead, she recommends using your average profit to determine a set paycheck, then adjusting only if your accounts are consistently overflowing. It’s a system that gives you stability without the guesswork.
The Real Reason You're Broke (It’s Not Lack of Sales)
Gina also touched on a concept that hit real close to home: capacity to have. Many creatives unconsciously self-sabotage by spending or giving away money when they start to accumulate it, because they’re uncomfortable holding onto wealth. Whether it’s charitable giving, over-investing in your business, or buying gear you don’t actually need, it all stems from the same issue: low capacity to have. Gina challenged us—and our listeners—to start recognizing those patterns and to practice keeping money on purpose.
What Thriving Really Looks Like
We wrapped up the episode by asking Gina what thriving looks like in her own business. Her answer? Feeling creatively prolific and financially abundant. She talked about the power of paying herself consistently, funding retirement, and living a life that would’ve only been possible as a VP in corporate America. For Gina, thriving means living in full alignment—with her money, her values, and her creativity.
If this episode slapped you across the face with clarity like it did for us, don’t miss Gina’s free weekly training on how to pay off five figures of business debt—live every Monday at 1 PM CST. And check out her podcast, Small Business Big Money, plus her fashion-loving side project, Rich Mommy on Substack.
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We have a ton of awesome resources for you to reach your business goals this year over at the shop — run and go snag a course, guide, template, or free guide. :)
