![]() So pick a realistic percentage you can set aside as savings every time you get paid. I’ve seen too many freelancers fall into a panic when it comes time to pay their taxes because they’ve not stored away (in a separate account) the correct percentage they need to cover this inescapable expense. If it’s all in one account, it doesn’t really matter if you’ve tallied somewhere that some portion of it is supposed to be savings, it’ll all turn into financial soup and will get spent before you know it. I’ve also found that, when it comes to the practical mechanics of saving, it’s better to have separate accounts to move different portions of your income into. I prefer to use percentages to slice and dice my income-rather than a set monthly amount-because the total amounts I then save, invest, give etc., will automatically scale as my income increases. ![]() Saving often can protect you against the unexpected. Eventually it will all add up and consistently saving something helps to build that crucial habit into your financial life. Always be saving something.Įven if it’s a tiny percentage of your income. If not now, then maybe later.Īs in the edit suite, so in life. So if freelancing is something you’ve chosen or recently fallen into, or if you’re just considering the jump, then there’ll be (I hope) something in these personal experiences that you find useful. ![]() I’ve made mistakes, I’ve learned valuable lessons, and along the way I’ve landed on a system that’s helped me manage my finances through a financial crisis, two babies (and another on the way), a global pandemic, and the industry’s constant leaps in technology.įreelancing isn’t for everyone, but I can’t imagine giving up the freedom, flexibility, and entrepreneurial agency that it offers. But I’ve also seen boom times where I earned more than I ever thought likely. There’ve been long stretches of unemployment, especially at the start. I’ve never had a proper job-and by that I mean, a salaried position, with a boss and the assumption of constant work-but so far it’s worked out alright. Before acting on any information, consider your situation, objectives, and needs, and seek professional local help. ![]() It is very important that you never forget to be your own best friend and constantly look for ways to build yourself up rather than tear yourself down.Editor’s note: This article is intended to be general in nature and is not personal financial advice. There is no doubt about it that life can be hard. Most of the time, the men and women who settle for a life of survival let the tough times of life tear them down while they completely neglect building themselves up. If you want to forever make sure you don't fall into survival mode, hang around with winners. When you hang around with people who are obsessed with growing, getting better and maximizing their potential, you will end up growing and getting better as well. If you hang around with people who are not motivated and searching for ways to better themselves, that's exactly the same type of mindset and life that you will adopt. You have probably heard a million times about the importance of who you hang out with, but it's amazing how many people still don't comprehend it and practice it in their every day life. Related: Pursue Those Scary Dreams and Crazy Ideas to Make Every Day Your Best Day Ever 2.
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