Thursday, May 14, 2020

Tips to Becoming a Financially Secure Freelancer

Working as a freelancer grants you freedom and the ability to choose projects based on your availability and your personal preferences. This is hugely preferable for those workers who like to have a little more control over their working output, and those who work in a creative industry. But the downside to this form of work is that your orders can be sporadic, and your clients can leave you with little work for weeks on end. As such, a key part of a freelancer’s life is their financial security – and that’s what this article focuses on, with tips to help you become more financially stable as a freelance worker.

Personal Budgeting
Freelancers are self-employed, which means that the lines between their business accounts and their personal accounts are blurred and indistinct. Indeed, for casual freelancers and those who haven’t set up a company name to work through, it’s unlikely that you’ll even have a business bank account. As such, your budgeting will be a little more complex than many people’s – but it’ll also be more holistic. Take your time, look at all your figures, draw up averages, and reveal to yourself what your usual monthly incomings and outgoings are.

Regular Work
One of the most stressful times in a freelancer’s life is when you don’t have work. You may have dozens of clients that often approach you with projects, but you’ll find that, on occasion, no one is able to give you a project for you to earn from. In these times, you can end up slipping into debt. In order to ensure that you have regular work each week – the kind that keeps you ticking over – you should find an agency or organization that can send you weekly projects, enabling you to make the most of your free time without scouring the web for work every week.

Loans and Support
Nevertheless, even with your regular work, there are occasions where you simply aren’t making enough cash to support your ongoing working responsibilities. It’s in this case that you may be required to take out a loan in order to cover your bills, your rent, or other financial obligations that you cannot abandon. Loans can feel scary, but there are some loan providers out there who can help you get access to cash fast without slapping you with high interest fees. For instance, by taking out a loan against the value of your car, you’ll be able to access cash through the providers at This is perfect for those looking for a short-term financial boost.

Savings Pot
When you’re enjoying regular work, and you’re finding that you barely have a free hour in the day to relax, you’ll know that the money is pouring in a little faster than usual. It’s in these periods, when the going is good, that it’s imperative that you put some cash into savings. This cash can help you if you do find yourself in financial difficulties in the future.
Use the four tips above to enable your chosen freelance lifestyle and to make sure that you never hit a dead-end financially while working as a self-employed individual.


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