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3 Finance Tips for the Self-Employed

Being self-employed is amazing. It is one of the best things I have ever done. I really can’t imagine working for anyone ever again. It feels liberating to be able to dictate the pace in which I work. And being able to work from home whilst care for my growing kids is a blessing. I am super thankful everyday for this amazing life I have been blessed with.

 

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Having said that, managing the finances can be a little tricky when you are self-employed. Especially when you are dealing with clients that never pay your invoices on time. I have had to put on my accountant hat to keep my business thriving. For those who do not know, I have a degree in Accounting (graduated university in 2006) but only practised for 1 year. The story surrounding that is a whole new blog post for another day.

Here are some finance tips I have picked up in my self-employment journey.

 

Be Careful with Credit

As a self-employed person, you need to be very careful with credit, especially credit cards. You may find it super easy to shop on your credit cards, especially when you are dealing with late payments and need to survive. If you must get some kind of credit to survive, make sure you understand the payment terms and don’t get carried away with spending money that isn’t yours.

If you have to deal with unforeseen circumstances and need quick money, a company like Cash Lady could come in handy. This company helps customers to find short-term finance solutions. So they are good for when your boiler or car break down, or when you need money quickly for urgent home improvements.

 

Keep Records

I am always on top of my records. Leaving it all until the end of the tax year will stress the life out of me. So I make a note of money coming in and going out.

Sending invoices is a great way to keep track of your money. I always send out an invoice for every project I work on. Even if the client does not request one. I need it for my books, so I get invoices sent out for my records.

 

Claim the Expenses

When filing my tax return, I make sure I claim every expense. This advice also links back to the keeping records tip. I always keep track of every expense, all year round. This makes it easier for me to claim the right amount of expenses. If you are not sure what you could claim as an expense, here is a detailed list of all expenses the self-employed are allowed to claim.

 

I hope you find these finance tips useful. If you have any finance tips for the self-employed, please share in the comments section below.

 

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How to share your passion for fashion online

In order to enjoy a long and happy life, it is important that you are spending your time doing what you love. If you are going to achieve this, you will need to find one key passion or pastime to focus on. Then, you will need to clear out your schedule, so that you are left with plenty of time to follow your dreams. Whatever your interest, there is sure to be a way for you to share it with like-mindedenthusiasts. For instance, if you are a dedicated follower of fashion, you should embrace at least one of the four options listed below.

 

Start your own YouTube channel

If you are a confidentindividual who loves to communicate, you should think about starting your own YouTube channel. Thisis a fantastic platform for you to share your passion for fashion. Once you have set up your account, you could produce clothing hauls, lookbooks, and honest reviews of celebrity style choices. If you decide to push forward with this project, just make sure that your channel appears as stylish as possible. In order toattract a following of fashionistas, it is vital that you invest in your visuals. Luckily, this doesn’t have to be an expensive or complicated step. You can simply go online to find out how to make YouTube intros that will stand out for all of the right reasons.

 

 

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Write your own blog posts

Another great option is to write your ownblog posts. If you are not as comfortable sitting in front of the camera or sharing your image online, this could be a great way for you to focus on your writing skills. It could also be a brilliant opportunity for you to share your wisdom withothers. Perhaps you are an expert in styling a daytime look so that it can transition into the evening. Or, maybe you love to restore vintage garments and use them to add a unique flair to your closet. Whatever the case, you will need to find plenty of topics that you are eager to write aboutbecause that way, you will always feel motivated to produce content for your online following.

 

Invest in your social media

Alternatively, you could invest in your social media. In this digital age, it has become extremely popular for people to make their living online. Whilesetting up an Instagram, Twitter, or Facebook account might not seem like an investment in your future, it could be a great way for you to establish yourself as a social media influencer. If you always find yourself one step ahead of the rest, why not use your online platform to share your fashion hints, tips, and predictions? You could also takeoutfit-of-the day selfies and then share them online. As your profile grows, you might even find that you are approached by online retailers who would like to work with you to promote their products. Simply tagging them in the description or posting a discount code could be enough for you to bring in an impressive profit.

 

Set up an online store

Finally, you should think about setting up an online store. Thisis a wonderful way for you to make your mark inthe fashion industry. Rather than directing your online audience to other people’s operations, you can take matters into your own hands. One option is to create your owngarments or accessories from scratch and then sell them online. However, you could also find success by buying in stock from other companies and then setting up an outlet retailer that deals with all of your favourite labels.

 

How do you share your passion for fashion online?

 

*Collaborative post.

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