How do I manage my self-employment money?

This is one question many self-employed ask themselves over and over again. Managing your funds as a self-employed person is so vital especially in the current times we are in. It is so important to stay on top of your money when you work for yourself. I have been self-employed for a couple years now and I had to learn very quickly how to manage my self-employment money.

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Here are some tips to help you manage your money as a self-employed person:

Have a monthly budget

Regardless of how much income you get as a self-employed person, it is important to have and stick to a monthly budget. That way you can manage your finances effectively and have money to cover your bills in the quiet months. I always ensure I stick to my budget these days. The last thing anyone would want is to not have enough money to cover your bills when during the quiet months. Having a budget sorts that all out as you can plan your bills in advance and spend within your budget.

You can also pay yourself a fixed salary every month and save everything else which leads links into the next tip below.

Grow your savings

Everyone should have some savings especially business owners and those who are self-employed. It makes sense to save an amount of money every month, no matter how small. That would help you to continue to grow your savings on a monthly basis which come in handy on rainy days.

Stay on top of your tax

Ensure you sort out your tax and national insurance contributions as soon as you can. It is usually possible to set up a repayment plan that allows you spread your payments over a set number of months or you can just do it the way I do which is to pay the tax bill over a certain of months before the due date. That usually takes the pressure off massively.

Spend less

This can be a tricky tip for the shopping lovers but spending less usually means you have your money for longer. The older I am, the less I spend, and this habit has helped me live a more peaceful life. It is so simple; if you can cut back on your spending, you will have more money.

Check what you are paying for

It is important to an audit check of your direct debit plans as often as you can so you don’t keep paying for products and services you no longer need.

Are you self-employed? Do you have a business? How do you manage your money?



3 Tips for Self Employment

With the changes happening all over the world, more and more people are going into self-employment or thinking of going into it. I have been self-employed for many years now, and although it has been a bumpy rollercoaster, I would get on the ride again if I had to start all over again. Being self-employed has given me so many opportunities regular employment would not have given me and for that, I am forever grateful.

If you are thinking of going self-employed, here are 3 tips that would help you start in the right way.

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3 Tips for Self Employment
  • Pretend you are in an office

Working from home can be fun but it can also be very distracting. The best way to get around it while working from home is to act like you are in an actual office. That means getting out of bed and your PJs and starting the day all dressed up. That puts you in the right state of mind and allows you to stay productive.

  • Treat yourself well

This is another great tip for those who are new to self-employment because it is so easy to let yourself go and put your all into your job because you need it to bring in the money. I did this for many years and I had to learn the hard way. Nowadays, I am so gentle with myself. I work hard but I care for myself even harder, and this allows me to work successfully as a self-employed. I take days off work now; something I did in the early days. It is important to treat yourself as you would like a nice boss to treat you.

  • Say No to what does not serve you

This is one area I never really struggled in. I have and always will say NO to offers that don’t serve me. It is important to ensure you only take on the kind of work you want and remain selective. Depending on the sort of business you run, it is likely you get all sorts of offers. Being able to say NO as often as you need is crucial. You don’t want certain folks to run you out of business.

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Being a self-employed mother is a blessing. I won’t change any part of my journey and I am looking forward to the many years of self-employment ahead of me. Even if I go back to traditional work, I will still retain my self-employment as it serves as a creative outlet for me.

Are you self-employed? How are you finding the experience?



What you need to know about freelance work

Freelance work allows me to work and study from home. It also allowed me to homeschool the kiddies these last few months. A few years ago, I was stuck in a job I hated and dreamt of being able to work for myself from home. Freelancing has allowed me to break out of that job and pursue my dreams. It has completely changed my life and I am forever grateful to be able to do what I do, how I do it.

What is freelance work?

Freelance work is a flexible sort of self-employment job that allows you to provide a service to a variety of clients. I get to work with all sorts of businesses all over the world and I have met some incredible people along the way. My freelance work allows me to work on small and big projects, both short term and long term, depending on the project.

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What jobs can I do freelance?

You can do almost any job freelance. I handle copywriting, blogger outreach, blog coaching, and social media management for many businesses. Other jobs you could carry out on a freelance basis are –

  • Proofreading
  • Public Relations
  • Graphic Design
  • Videography
  • Data Entry
  • Book Keeping

These are just a few examples of jobs you could do for clients on a freelance basis. There are many more freelance jobs you could do. Quick research in your chosen field will shed more light.

What are the benefits of working freelance?

Here are some of the most amazing benefits of working freelance –

  • It is flexible. You can set your own working hours
  • You can work from anywhere you choose
  • Freelance work is usually varied and variety is the spice of life.
  • You are your own boss.

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Where can I find freelance work?

You can find freelance work anywhere depending on your niche. I started off getting jobs on LinkedIn and other social media networks. These days the majority of my jobs find me thanks to my blog and existing connections. However, if you are just starting out, Upwork, Freelancer, and Peopleperhour are great sites to check out.

How much do freelancers get paid?

The beauty of being a freelancer is you get to set your own rates. You can decide to be paid hourly or set up a fixed rate. The choice is yours. It is best to do some research and find out what other freelancers in your niche charge. That way you make sure you set realistic rates.

What do I need to become a freelancer?

For you to be a successful freelancer, you need to have the skills required for your niche. So to be a successful copywiter, you need to be a great writer. You also need to be self-motivated and organised to succeed as a freelancer. The beauty of freelancing is you are your own boss, and that means there is no one to remind you to get your work done. You need to be able to motivate yourself and stay on top of your workload to succeed.


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