https://fonts.googleapis.com/css2?family=Montserrat:wght@400;500;700&display=swapstylesheettext/css

Financial Tips for the Saving Freelancer

  • Oct 14, 2019
  • By Miles Malferrari

#


Good things happen to those who hustle. The daily grind isn’t what it’s always cut out to be. We think it’s a bold and respectable decision to become a freelancer. You are not just an employee anymore, but a business owner. You have to make sure your business is a sustainable operation. We’re here to help! Here are our top ___ financial tips to help you get started on your path to success.


  1. Prepare to Pay Quarterly Taxes

It’s easy to forget to pay your taxes in the first year. Find out your estimated tax rate, set aside the amount and calendar reminders. Don’t wait until the last minute to file taxes and risk getting fined with late fees.


  1. Keep Detailed Financial Records

Be sure to track your money in and money out. Use a business account and business debit/credit card. Using a spreadsheet helps to track your expenses and income. If you’re ever audited you’ll be sure to have pristine records and can validate anything in question.


  1. Automate Your Payments

Any personal bills you have at home or in a coworking space? Automate your payments to be able to avoid unnecessary late fees. Take advantage of apps that remind you for any payments or even facilitate online payment when you connect it to your bank account.


  1. Take Care of Yourself

Protect what you worked so hard to get. It could be your products, your location, but most especially yourself. Without you, the business would cease to exist, especially if your work is service-based like graphic design, writing, etc. Make sure your health is taken good care of by picking one that not only has a vast base of hospitals and doctors but also prioritizes people like you, the freelancers or business owners. If you’re looking for it, check out Allcare.io.


  1. Don’t Bury Your Head in the Sand

There’s a certain stigma surrounding talk of personal finances. Most artists don’t like thinking about money and the nitty-gritty details. As a freelancer, you need to get over these mental hurdles. As of now, it’s your personal freelance CEO job description to manage your finances without excuses.


  1. Prioritize Retirement Savings

Don’t miss out on saving for your future. It’s easy to miss out on saving for retirement when you’re so busy in the here and now and all the expenses that entail. But you can invest more powerfully and it will be there when you really need it.


  1. Carefully Scale Growth

Create as many opportunities as you can. Use the internet and social media as an advantage to reach more customers or clients, but don’t be too loose with cash that you realize too late when you overspent on your marketing budget.



Knowledge is power, and assuming control of finances is one of the most powerful things we can do as freelancers, artists, and individuals.


How do you manage your finances?




Related Articles



10 Essential Tools Every Freelancer Needs
10 Essential Tools Every Freelancer Needs
Aug 20, 2019
  • BY Miles Malferrari
  • Starting out in the freelance business can be a daunting task. If you aren’t worried about how you want to represent ...
    How To Set Up Your Own Home Office
    How To Set Up Your Own Home Office
    Oct 01, 2019
  • BY Miles Malferrari
  • People typically associate a given mindset to a physical space they are familiar with: there’s the kitchen where you ...
    Applying for a Business Permit in the Philippines
    Applying for a Business Permit in the Philippines
    Feb 26, 2020
  • BY Miles Malferrari
  • So you’re looking to start a business. DIY-ing a business from scratch brings with it a great sense of fulfillment al...
    Budget Christmas: How to Make Sure You Stay On Track
    Budget Christmas: How to Make Sure You Stay On Track
    Dec 14, 2019
  • BY Miles Malferrari
  • Christmas is usually the time people decide to go big. Whether it’s throwing a party or buying that thing you’ve alwa...
    What to Gift Your Clients for the Holidays
    What to Gift Your Clients for the Holidays
    Dec 17, 2019
  • BY Miles Malferrari
  • The Christmas Season can be a tricky time from the lens of a professional. Unlike personal friends and family, the ac...
    A Freelancer's Starter Pack
    A Freelancer's Starter Pack
    Jul 25, 2019
  • BY ALLCARE Team
  • So, you’ve decided to try your hand at freelancing, huh? Being your own boss, owning your hours, and most of all – be...