Personal Finance Advice For Freelancers

Prepare A Budget

This may seem obvious, but all freelancers—and everyone—should create a budget to know how much they need to pay expenses and buy necessities.

Separate Bank Accounts

Open a separate bank account for professional revenue or side gigs like Uber or Airbnb to simplify work finances.

Save For Taxes

Party time for freelancers on payday. It's easy to forget that some of that payment will be taxed. Freelancers should save the tax proportion of each payment.

Create A Safety Net

Delayed payments, slow periods, client loss—downturns can happen for many reasons, therefore a safety net is essential.

Emergency Funds

Freelancers should save for emergencies, but how much? Most experts recommend saving three to six months of income for essential expenses.

Grow Your Business

Freelancing isn't always easy. It's crucial to build your business and invest in obtaining new clients to avoid financial disaster if a client leaves suddenly.

Secure Your Income

As a freelancer, your salary is not assured by your company if you can't work due to a serious illness like cancer.

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