Most freelance designers are experienced and talented with their trade, but not so much when it comes to financial issues. In this post I’d like to share some things that I have learned through my own experience of being self employed that I think will be able to help others. I am in no way a financial professional and you should always seek the advice of someone qualified on the specifics of your own situation, but these are some general things that have helped me along the way.
1. Have Emergency Savings
If you haven’t started full-time freelancing yet, the best thing you can do for yourself financially is to build up an emergency fund that will allow you to pay all of your bills for at least a few months. Hopefully you won’t need this money, but if things don’t go as expected at least it will be there for you and you won’t have to go scrambling back to a job as soon as things slow down.
If you are already freelancing full-time with no emergency savings, it’s not too late to address the issue. This money will help to reduce the stress that you may be feeling to earn enough each month.Read More