Instagram

Follow Me!

Business, blogging & Money Career Finance

Financial headaches that are common for freelancers | biz + blog tips

Financial headaches that are common for freelancers

There are upsides and downsides of working as a freelancer. You don’t have to answer to a boss, and you decide what work you do. But that’s not the whole story. There are challenges and difficulties that you will face as well. So, you need to make sure that you are aware of the key financial difficulties associated with freelance working. After all, making money and earning enough to live off is what it’s all about.

Maintaining a Steady Cash Flow

Your cash flow is vitally important when you are a freelancer. When you don’t manage it properly, you face big difficulties. You should try to make sure that your use of credit cards is kept to a minimum because they can confuse things even further, which is not what you need. You should also try to ensure that you don’t spend too much near the start of the month if you are not getting paid again for a while. These are issues that you should get used to over time as you grow to understand the realities of freelance work.

MArketing challenges to grow for free

Chasing Unpaid Invoices

When a client doesn’t pay your invoice, you have to chase them. This is, unfortunately, a very common problem that many freelance workers have faced. It’s something that you should not back down on, though. If a client is trying to take advantage of you, you can’t let them.

Also read: recognizing, dealing and getting rid of annoying clients

The more you let them get away with, the more they will exploit you. So, be firm about expecting payment by a certain date. And when those expectations are not met, take action immediately. Things like invoice factoring might be able to help you out if you are having problems with getting invoices paid too.

Saving for the Tough Times

As you should already know, freelance work is inconsistent. You can never be sure about what your income will be from one month to the next. Of course, you can secure long-term contracts and repeat work. But even these things are never certain because you can be let go very easily. So, it’s important that you start to save when the times are good. They might not be good forever, and having some savings to fall back on when times are tough can be a real help. You just need to make sure that you have all of your immediate costs covered before you start to save.

Financial headaches that are common for freelancers

Currency Challenges

When you work as a freelancer, it’s possible that you will be working for clients in different parts of the world. This is one of the things that can make freelance work so interesting. However, things can get confusing when you are being paid by clients and companies in different countries. There are currency challenges that you will have to overcome. You should be sure to keep a close eye on the currency exchange rates. Your income can go up or down depending on what the current rate is. Sometimes, it will work in your favour. At other times, it will mean that you lose out a little.

Wanna learn more?
I perfected a lot of my money strategies and routines after doing this course from my money mindset coach. She offers a ton of free content on her blog and website, from webinars to meditations to help you grow your income.She helps women release their fear of money, set premium prices for their services and take back control over their finances. You know that icky feeling in your belly when someone asks you to work for free? Or the baffling procrastination of sending out an invoice to a potential client? Or the fact that your income has stagnated… she’s here to help you break through! Learn more about her here.



Thanks for reading! ? If you enjoyed this article, please save it to Pinterest by clicking the 'save' button on any image.

And say hello on Instagram or Snapchat
Subscribe to my Newsletter HERE






Follow me & my blog:




Visit noni's profile on Pinterest.





Shop my current favorites:









 

Most useful blog posts to grow your biz + blog



  • – The Complete Guide To: making money blogging when you have a small following

  • – 50+ online income streams to make extra income online from home (to pay off debt)

  • – 4 simple steps to starting a WordPress blog from scratch if you have zero technical knowledge

  • – The tools I use to run my 5-figure automated business and blog.

  • – MailchimpΒ vs Convertkit: growing your list to 5000+Β 

  • – How to use Tailwind Tribes to grow your blog and traffic on autopilot

  • – The ultimate list 40 ways to promote your content: free guide content promotion tools

  • – Free email course: A Media Kit That Sells to pitch to press and sponsor and become a professional blogger.Β 

  • – How to use Convertkit as a PR tool to automate the heck out of your PR strategy

  • – Boardbooster vs Tailwind + 3 more tools to schedule and automate your Pinterest

  • – A breakdown, the real costs of running a successful business and blog

  • – My top 7 automations that will help you get more done in less time

  • – Time-saving tips for busy entrepreneurs

  • – How to use Convertkit as a PR tool to automate the heck out of your PR strategy

  • – 7 reasons why your PR efforts + strategy shouldn’t cost you money (+ FREE PR Checklist)

  • – 6 reasons why public relations are important (+ You should start PR ASAP)

  • – Your Network Is Your Net Worth FREE 3-day email

  • – A list of 50+ recommended paid blogger networks to join


  • Travel Advice & Digital Nomad lifestyleΒ 


    Travel more with less money

    Screen_shot_2016-02-14_at_12.00.26

    Download your free guide by signing up. You'll immidiately receive your free guide!

    We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

    Please follow and like me:

      Instagram

      Follow Me!

      Sign-up for my free 3-part video training for bloggers '$10k income.'here
      +