“Freelancers: Take Charge Of Your Finances With These 14 Tips
The number of people in the U.S. who freelance has been growing in recent years, and the pandemic has accelerated this trend. There can be definite financial and lifestyle benefits from making a living as a full-time independent contractor or padding your regular income with a side hustle. However, freelancing comes with unique financial responsibilities as well as potential pitfalls, so it’s wise to be prepared.
Whether you make most of your money through freelancing or just do it on evenings and weekends, knowing what to do with that money is as important as earning it. Below, 14 members of Forbes Finance Council share expert tips that anyone currently in or thinking of joining the freelance pool should consider…
10. Set aside four months of living expenses.
Cash is king. If you are self-employed, you should try to keep at least four months of living expenses saved at all times in the event you hit a dry spell with little work. Having the discipline to save a bit when times are good will save a lot of stress in the future. – George Souri, LQD Business Finance…”
Read the full article in Forbes.