Serious gig workers will also create a business plan. This gives the specifics of your plans to obtain income, and outlines your expertise, services, products and clientele.
The business plan also has your marketing plan, fees, location, hours and expenses. “A solid financial plan will incorporate business plans into an individual’s overall personal long-term financial strategy,” Yamano said.
No matter their age or situation, all freelancers can get a grip on their finances.
Make sure to have an emergency fund, set aside money for taxes and retirement, and keep detailed records of your income and expenses.
“Automate your recordkeeping as much as possible,” Yamano said. “A safety net will enable you to have cash on hand when life throws financial hiccups your way, whether car issues or a slow month of freelance work.”
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Source : CNBC
