Finance

I’m a Gen Z freelance graphic designer earning $61K. Can I save enough for the future?

Real people. Real finances. From six-figure earners to side hustlers, BCBusiness's Money Makers is pulling back the curtain on how British Columbians really make, spend and think about money—no filters, just facts.

By The Editors /

This week, we hear from a Vancouver-based Gen Z who enjoys the flexibility of her freelance career, but worries about long-term financial security. At 28, this graphic designer earns $61,000 a year and spends a little over $3,000 a month on expenses. She’s trading square footage for lifestyle perks, splurging on her crafting hobbies and the occasional concert ticket, while saving aggressively to cushion the unpredictability of self-employment.

“I’m mostly worried about being able to save enough to settle down one day,” she says. “Seeing how my parents did things, and how their experiences were so different from mine makes it difficult to visualize what my financial future will look like.”

This creative’s money mantra? Save hard, play creatively.

  • Age: 28
  • Location: Vancouver
  • Industry: Marketing/design
  • Role: Freelance graphic designer
  • Pronouns: She/her
  • Total income: $61,000
  • Education & training: $35,000 (four-year design degree)

Income

  • Freelance income: $60,000
  • Passive income: $1,000
  • Benefits: Flexibility in schedule and unlimited unpaid vacation

Do you feel fairly paid for what you do?

For the most part! I set my own prices. There are people who lowball, but I wouldn’t take them on as clients.

Name one item you splurge on, regardless of your budget.

Hobby items! I love crafting, sewing and the outdoors, so when I buy equipment or materials I let myself splurge to support brands I believe in and get products that will last and perform. The last thing I bought was a new sewing machine. (It was on sale, though!)

What’s something you refuse to spend money on?

Fast fashion—I do love trends and dressing up, but I hate the culture of over-consumption that goes with it. Instead, I do thrift flips with my modest sewing skills; I spend way less and the effort it takes makes me appreciate the pieces even more.

Do you use a financial advisor, app, spreadsheet—or vibes?

I use Wave Financial for my freelance biz. It helps me create, send and track invoices for clients and keeps track of receipts.

How has living in your city/neighbourhood impacted your financial choices?

I live in Vancouver, so things are pricey for living expenses. I’ve moved into a smaller place with less light that’s a bit more affordable, but because of that I let myself splurge more on decorating the home, and on things that get me outside (like concert tickets and Ubers.)

Do you ever find yourself concerned about money or financial security?

Yes, I’m mostly worried about being able to save enough to settle down one day. I think seeing how my parents did things, and how their experiences were so different from mine (even just generationally) makes it difficult to visualize what my financial future will look like. Since I’m freelancing as well, there are some months that are better than others, so I have to balance that uncertainty by saving more aggressively than I would on a salary.

How, if at all, are you approaching retirement planning right now?

Currently, I have a small RRSP that I started making contributions to this year, as well as a GIC TFSA with about $21,000 that I’ve had for the last two years—which I renew annually at 5-percent guaranteed interest. My main plans right now are to start actually planning soon and making some smarter investments with my (small) savings.

Is there a job you secretly admire for the pay or lifestyle?

Influencers, especially travel or food ones! I could never do it, though; I’m not extroverted enough. And I’m sure being that online would have plenty of downsides.

How do you define financial success? What does being “rich” mean to you? To be able to take time off work, travel one to two times a year, invest in property and still be able to retire at a reasonable age. I have no idea how much you would need to make for this. Maybe DINK $300k+ annually?

What’s one lesson you’ve learned about work and finances that you think others in your industry could benefit from?

Save, save, save. Even though it can feel stressful, one of my favourite things about my job right now is that I can embrace the down periods and reinvest time into things that I love without stressing. I can only do this because I save as much as I can during my higher months.

Want to share your money story with BCBusiness? Take our short, anonymous survey here (bonus: enter to win a $200 Chop Steakhouse & Bar gift card for a fabulous meal on us this August!)