Saving Money as a Freelancer in 5 Steps

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FREELANCER TIPS

• Saving money as a freelancer
• in 5 steps

More freelancer tips on www.freelancermap.com...
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Saving money as a freelancer in 5 steps

• Freelancing is a lot like running a company, only
  you have to fill all openings. One of the things
  companies think about most is what happens to
  their money and how they can cut on their costs.
  The dynamic work of a freelancer will often leave
  you wishing you had more savings, be it as a
  safety net or as a way to invest towards growth.
  There are a lot of things you can do to save a
  significant part of your earnings. The five tips
  below are things that can and should become part
  of your daily routine. That means you wont
  actively have to worry about saving money, and
  will be able to focus all your energy into your
  work thanks to the reduced stress.

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Saving money as a freelancer in 5 steps
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1) Have a budget

• First and foremost, treat your business as any
  company would and implement a budget. Know how
  much you spend and earn on a monthly and early
  average. If these averages dont pan out, you
  know you have to start cutting your expenses.
  Think about what is absolutely necessary and
  start saving on the more wasteful items. If you
  have a surplus, on the other hand, dont waste it
  and put some money aside instead. Think about
  improving your business even further by investing
  into it, too.

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2) White money for black months

• Invariably, you are going to have different types
  of months. Some will be the really good ones
  where everything seems to go as planned and
  better. Others might make digging between the
  pillows of your couch for spare coins seem like a
  good idea. Every freelancer knows that. The
  problem is easily tackled by redistributing. Save
  those extra profits for the tougher months that
  are coming, preventing the stress of having to
  make ends meet. It is also imperative you use the
  times when you have fewer clients, for example by
  adding to your skillset and improving yourself.

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3) Use mor free software tools

• No matter what field youre working in, software
  tools are going to be a big part of your
  freelancing job. Whether it is your website,
  business cards, budget, taxes or something else,
  there are a lot of great free resources out
  there. Actively search for those freebies,
  instead of buying the first popular thing you
  come across. If you know you will need some
  premium products, make sure to test them, most
  will offer free trials. You dont want to end up
  buying something that isnt right for you and
  wasting money.

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4) Deduct expenses from taxes

• As a freelancer, you almost certainly have the
  right to deduct some of your work expenses from
  taxes. Dont hesitate to exercise that right.
  Whether you turned a room of your house into your
  office, bought some new tech or have a large
  phone bill as a result of talking to clients, it
  is probably deductible. That can save you a lot
  of money, so make sure to look into it!

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5) Eat in

• To end up on a lighter, but still serious note,
  learn to cook. Yes, it will take up some of your
  time, but it is significantly cheaper than eating
  out. And while you sometimes dont have the
  choice as a regular employee, freelancers can
  always eat their home-made dishes. Having a great
  meal you made all by yourself can also be
  extremely satisfying, giving you that extra bit
  of motivation to dive into your work after a
  break.

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