End-of-Year Planning: How I Budget & Forecast Business Expenses for Next Year As A Family Photographer

If you’re a family photographer, the end of the year can feel like a strange mix of exhaustion and pressure. You’re wrapping up fall sessions, thinking about slower winter months, and wondering how to start the new year without feeling financially reactive.

That’s exactly why end-of-year planning matters so much.

In this post (which accompanies this week’s episode of The Systems and Workflow Magic Podcast and YouTube video), I’m sharing how I budget and forecast my business expenses for the next year as a family photographer. So I’m not starting in January, and I’m not guessing what my overhead will be.

This system helps me make confident decisions about:

• pricing my family photography packages

• planning for slower seasons (this is the point where I lean into the most because, to be honest, I love taking the entire month of December off, and a little bit of January too. But this calls for loads of intentional planning)

• setting realistic income and profit goals

• building a sustainable photography business that fits my life

🎥If you want to watch the YouTube Video of this blog post, watch here

🎙️If you want to listen to the Podcast Version Of This Blog Listen Here

What end-of-year planning means for family photographers

End-of-year planning is not about predicting how many sessions you’ll book or magically knowing your income.

For family photographers, it means:

• reviewing last year’s business expenses

• identifying recurring monthly and annual costs

• planning for seasonal fluctuations

• forecasting known expenses for the year ahead

This kind of planning helps you start the new year feeling prepared rather than stressed.

Why family photographers need to forecast expenses before January

Family photography businesses are often seasonal, which makes financial clarity even more important.

When I forecast my business expenses before the new year, it allows me to:

• Understand my actual monthly overhead (even during slow seasons)

• Prepare for annual subscriptions and renewals

• Avoid panic pricing when bookings feel slower

• Plan marketing and promotions strategically

• Price my sessions based on numbers—not guesswork

End-of-year planning gives me control and clarity (or, for sure, clarity), even when my booking calendar changes.

Step 1 – Identify your family photography income streams

Before you budget expenses, you need clarity on how money comes into your photography business.

For family photographers, income streams often include:

• family photography sessions

• branding or milestone sessions

• mini sessions

• college graduate portraits (if applicable)

• memberships, digital products, or education

• affiliate income

Even if you only have two or three income streams, write them down. This makes expense planning much easier and more accurate.

Step 2 – Create simple expense categories for your photography business

One mistake I see family photographers make is overcomplicating their finances.

Your expense categories don’t need to be fancy—they need to be usable.

Here are expense categories I track as a family photographer:

• subscriptions (CRM, email marketing, AI tools, etc.)

• contractors and outsourcing (bookkeepers, educators, assistants)

• photography supplies and materials

• studio and equipment rentals

• travel and food (sessions, meetings, conferences)

• client gifts

• business maintenance

• marketing and advertising

• taxes set aside

• affiliate payouts or charitable giving

Clear categories help you quickly see where your money is going.

Step 3 – Use last year’s expenses to forecast next year

This is where forecasting becomes simple.

To forecast business expenses for next year:

1. Review your bank statements or bookkeeping records from the previous year.

2. Identify recurring monthly expenses.

3. Note annual subscriptions and what month they renew.

4. Add those expenses to a spreadsheet month by month.

For example:

• If a tool costs $21.95 per month, I add it to every month.

• If a platform renews annually in December, I add it to the December tab. 

This prevents surprise charges and helps you plan ahead.

Step 4 – Plan for monthly vs annual subscriptions

Some photography tools are cheaper when paid annually, while others make more sense monthly.

What matters most is that you:

• know when the expense hits

• record it ahead of time

• plan for it intentionally

Many platforms display renewal dates in your account settings—use them to forecast accurately.

Step 5 – Forecast outsourcing and contractor costs

If you outsource any part of your business—like bookkeeping, education, or marketing support—those costs should be forecasted, not guessed.

Even if you’re not ready to hire help yet, understanding what outsourcing would cost helps you:

• plan future growth

• set realistic income goals

• avoid burnout

I use a bookkeeping spreadsheet alongside a bookkeeper to stay connected to my numbers.

Step 6 – Use expense forecasting to price your family photography packages

This is where end-of-year planning directly impacts your pricing.

When you know:

• your monthly expenses

• your annual overhead

• How much do you want to pay yourself

• How much to set aside for taxes (I plan for 30%)

You can price your family photography sessions with confidence instead of fear.

Forecasting helps you stop underpricing just to fill your calendar.

Step 7 – Treat forecasting as a living system

Your expense forecast isn’t permanent.

New tools, education, or opportunities may come up—and that’s okay.

Forecast what you know now, and adjust as needed. The goal is clarity, not perfection.

The system I use to forecast my photography business expenses

To keep this process simple and visual, I use my Bookkeeping Template for Creatives, which I’ve used consistently since 2021.

It allows me to:

• categorize income and expenses

• forecast expenses month-by-month

• understand my overhead quickly

• Reuse the template every year

If you’re a family photographer looking for a clear, sustainable financial system, this template was created with you in mind.

Grab the Bookkeeping Template for Creatives here: https://systemsandworkflowmagic.com/bookkeeping-template

Or if you want to hand off your entire bookkeeping to the BEST bookkeeper ever, might I suggest checking out: https://www.willabbybookkeeping.com/

In Summary

End-of-year planning doesn’t have to feel intimidating.

As a family photographer, creating a system for your business expenses helps you:

• feel grounded in your numbers

• plan for slower seasons

• price confidently

• build a business that supports your life—not consumes it

And friend, you can do this.

Stay streamlined and magical, you amazing muggle you!

Meet Your Favorite Launch Planner for Small Biz Owners & Marketing Strategist for Family Photographers (Dolly DeLong Education)