Top Tips For Becoming Financially Independent As A Freelancer

Are you tired of living the 9-5 rat race? Are you looking to discover financial freedom so that you can live a comfortable life and provide for your family? Starting out on your own can be a daunting prospect, but it can also be a wonderful opportunity to improve your earnings and enjoy a better work/life balance.

Having made the jump to freelancing myself, I know how tough it can seem. That is why to help you, I’ve taken a closer look at my top tips for becoming financially independent:

Set your rates
The most important thing to do is set your rates right. Too many beginner freelancers undervalue their skills and charge too little for their services. When starting out, calculate all of your expenses, including downtime when you might not have work, and make sure your rates cover these and more.

Build an emergency fund
As a freelancer, particularly one starting out, you’ll find that your earnings can fluctuate quite a bit. This can be a stressful period, so to help ease that worry, try building up an emergency fund that will sustain you for six months. This can also be used to fund those unexpected emergencies that life can throw up.

Utilize technology
From managing clients and deadlines to paying taxes, freelancing requires a lot of admin. Messing one of these up can be very costly and leave you losing clients. Thankfully, there are countless apps and free tech out there that can help you to manage your workflow, improve focus, and manage your invoices. Incorporating these into your daily work can help you to maximize your efficiency and boost your profits, allowing you to spend more time with your loved ones.

What are your top tips for freelancing? Comment below and let us know!