Freelance Finance

Muck and Mire’s guide to financial serenity for the self-employed

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16 Things Freelancers Must Know… #3: Pay yourself first

February 8th, 2008 · No Comments

Paying yourself first is the cardinal rule of all income-earners, whether you are a self-employed freelancer or not. As you may have noticed, Mire and I like to call this feeding the monkey. Suppose you decide to save 15 percent of your income. Save it as follows: 10 percent to a retirement account, and 5 [...]

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Tags: Getting Organized · Pay Yourself First · Pleasures of the freelance life · The Emergency Fund · The Retirement Fund

16 Things Freelancers Must Know… #2: You Need a Nest Egg

February 6th, 2008 · No Comments

In an ideal world, I wouldn’t advise becoming a full-time freelancer until you are 30 or 35 years old. The longer you wait, the more contacts you will have, and the more money you’ll have saved up. And, if at all possible, I would not start as a full-time freelancer unless you had 6 to [...]

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Tags: Getting Paid · Invoices · Managing clients · Pleasures of the freelance life · The Emergency Fund