How to properly handle money: 7 life hacking for freelancers
Get Rich / / December 20, 2019
1. Keep accounting of income and expenses
Yes, this activity may seem dull and annoying, but it is necessary to analyze their financial situation. You will see how many get and how much money spend much money on average need for a month. After that, it is easier to set financial goals and plan purchases. In addition, it will be clear how many orders have to take a month to live comfortably.
you can make Table in Excel for clarity or to take advantage of application, If you want a personal budget has always been at hand.
Open Table →
2. Take into account when planning future income
Create a tab in your table and make it into new orders with an estimated sum payment. Most of the companies involved in such a prediction to understand on how much profit you can expect in the coming months and years. You do not have to look too far ahead. But roughly represent what will be next month, it is very useful.
Let's say, for the next two weeks, you have a little order. Seeing this in your table, you know that now you have to actively look for clients, or in some way to cut costs.
3. Keep track of spending on coffee
It seems to be a small thing, but if you often work out of the cafe, about a month can coming up rather big amount. Try to keep such waste to a minimum, especially if you are just starting to work on freelancing. When you have a stable income, with a clear conscience can please yourself your favorite coffee. But do not forget that instead of spending the third or fourth cup better save the money for the next item on our list.
4. Open pension contributions
Many freelancers forget about it or think that they do not need. But if you do not have an employer who can take care of you, take care of themselves.
Do not tighten it. As soon began to receive a steady income, with a maximum contribution of open interest and set up an automatic transfer of funds. Now, many banks offer special programs for pension savings, review proposals and select the appropriate. Think of it as another taxAnd not as money that could be spent on something else.
Prepare in advance👵
- How to survive in retirement without government assistance: financial expert advice
5. Take part of the proceeds for the development of relations
You will need to meet with clients, prospective customers and partners. In such cases, the offer is a cup of coffee or lunch companion. This gesture may seem unnecessary, but in fact it will help build business relationships. Let these costs will not always pay off, but it is better to lose 300 rubles, buying someone a coffee than miss out on a chance at great familiarity.
6. Do not waste all that get
Do not leave in a minus - it is not an achievement. If you spend every month everything got time to think about your strategy. Work should bring income, which then can be used to go to the next level. For some it is a discovery of one's own business, for others - an investment or early retirement. Decide what is important to you, and go for it.
And do not forget about the contingencies. You can get sick or stay without projects. In such cases need financial safety cushion that will hold a couple of months without income.
insure💰
- How to create a reserve fund: step by step instructions and example calculation
7. Invest in their development
Do not skimp on professional growth. It is better to give up buying new clothes or going to the movies, but the visit useful workshop. Keep track of what's happening in your area, and regularly Suck his skills. So you'll be popular and gain a competitive advantage.
Do not cease to grow after graduation: read the professional literature, go on courses, look for people who can learn something. These investments will pay off in the future - new projects and clients who are willing to pay more for the expertise and skills.
see also🧐
- How to find the time to freelance, if you already have a permanent job
- 5 myths, from which you want to get rid of before moving to freelance
- 10 reasons not to work in large corporations