As we approach the start of a new year I’d like to thank everyone for there support for my blog, podcast and books this year. It’s been a year filled with highs and lows but I’m more than ready for 2019!
It’s often challenging being an independent entrepreneur but one thing that makes it easier is staying on top of my money management.
There’s various ways to do this personally, but how do you go about managing your money as a freelancer or independent creative? I talk about my top 3 ways to manage your money which in turn reduces your stress and gives you time to focus on what you love to do.
Don’t underestimate what a clear plan can do for you. Outline all ideas and costs before even thinking about executing your next venture. I often plan projects way in advance to make room for any unexpected financial obstacles that may arise. It’s always good to be prepared and have a back up plan if you don’t have the funds for your initial plan. Having the ability to adapt your ideas to your budget is significant.
2. Maintain Your Records
As a young entrepreneur I know it can get frustrating trying to keep up with all your business purchases, keeping receipts in order and more. This frustration isn’t all bad. It allows you to have a clear view of what you’re investing into your ventures as well as what you’re getting out. This leads on to the next point – having an accountant.
3. Hire An Accountant
Sounds costly right? In reality it’s not so bad. There are various accounting companies out there that are willing to work with freelancers and independent creative’s for a small fee. In addition, there are multiple freelance accountants that can do the job for an even more affordable fee. One thing that is important is that you know that the person you have as you’re accountant knows what your needs are and knows how to do their part effectively.
I’ve been burnt by a freelance accountant before however there have been others that have been spot on. It’s about knowing where to look, and People Per Hour is a great place to start if you’re interested in a freelance accountant.
I talk about various ways that I’ve managed my money in my latest book, but I also had to share how I’ve lost money too, and the mistakes I’ve made that other freelancers and young entrepreneurs can avoid.
Find a money management system that works for you. It’s easy to let things like social media and how others do things influence actions, but all you really need to know are the basics. You build on the basics in a way that is feasible for you.
Time is Money is available to purchase via Amazon, Authorhouse UK and all other online book retailers.
Happy New Year and I’m wishing you all the best with your goals in 2019!
Author instagram: @timeismoneyldn