| If you are just going into freelancing then | | | | money they are going to be receiving on a |
| perhaps one of your biggest questions (unless | | | | monthly basis try to budget each amount that |
| you are already a financial management | | | | comes in so that you know where your money is |
| expert) is how you should handle the | | | | going. |
| financial aspects of your freelance business. | | | | |
| | | | Another thing you will probably want to do is |
| Perhaps one of the first things you should | | | | to set yourself financial goals. How much do |
| consider is getting someone to help you with | | | | you want to make this month? Next month? Six |
| the bookkeeping and accounting aspects of | | | | months time? In a year? Write down these |
| your business. You may want to get someone | | | | goals and then see how you can go about |
| you know to help you with this or if you do | | | | improving your income to meet these financial |
| not know anyone who has the necessary | | | | goals. Also work out how much you want to |
| expertise then you can use the same freelance | | | | save and how much you are going to be |
| jobs boards you use to get a freelance | | | | spending. |
| bookkeeper or accountant. | | | | |
| | | | If you have not already registered as an |
| Start by collecting all your invoices for any | | | | independent agent for tax purposes you will |
| purchases you make. As you go into | | | | also want to do this as soon as possible. You |
| freelancing you will discover that there are | | | | should speak to your accountant about this |
| many items that you would not have normally | | | | and ask him what is required and how you |
| worried about in the past but that you can | | | | should go about doing this if you do not |
| now claim from tax as business-related | | | | already know. It is important that this is |
| expenses so keep all invoices you receive. | | | | done within the first three months of |
| | | | starting your freelancing business. |
| You should also keep a book where you write | | | | |
| down everything you buy, all money expended | | | | In conclusion then, to manage your finances |
| and all money received. Speak to your | | | | effectively as a freelancer you should begin |
| bookkeeper about what books you should be | | | | by finding yourself a reliable bookkeeper or |
| keeping and how you should go about filling | | | | accountant, collect all your invoices and |
| them in but before you speak to them start | | | | write down all money that comes into or goes |
| now by just writing down every cent that | | | | out of your hands. Register for tax as early |
| leaves or comes into your hands. | | | | as possible (within the first three months) |
| | | | and set yourself financial goals that you |
| The next aspect is to budget your expenses as | | | | would like to reach to help you manage your |
| far as possible. Although freelancers often | | | | money more effectively. |
| find it hard to determine exactly how much | | | | |