Managing Your Finances as a Freelancer
Because they won’t manage themselves
If you’ve just started your freelance journey or you’re planning on starting soon, then it’s important that you start your finances off on the right foot.
I’ve been freelancing for just over a year, and as prepared as I was to start (I really wasn’t) and as business-orientated as I am (this is true), my freelance finances have continued to boggle my mind.
But over the past 12 months, I’ve picked up a few tips, tricks and insights about how to manage your finances.
Keep your business and personal separate
First thing’s first, your business income is not your personal income, even if you do need to pay yourself with it. That means the first step to managing your finances as a freelancer is to separate your business and personal finances.
Separating your finances means taking yourself down to the bank and opening a separate business bank account. Having a separate business bank account means that tracking your income and expenses is much easier.
The other thing that really helps when it comes to keeping your personal and business separate is having a business credit card. But having another credit card is more added financial responsibility…
