There is a growing number of people who are working from home or doing freelance work. There are many benefits to this kind of work arrangement and although the job security is not as high as that of regular employment where you go to a physical workplace to report for work, the perks of being a freelancer may be hard to resist for some people.
There are some people who are able to find regular fulltime work that allows them to earn money from home; these people are expected to report for work on a regular basis and they are paid on a regular basis as well. On the other hand, some people work on a freelance basis and there are times when work is overflowing and times when barely any work comes to them. For these freelancers, there are many ways to make money online during lean times but proper management of money and resources is often necessary. Below are some money saving tips for freelancers.
- Save for the rainy days. The biggest challenge for some freelancers is controlling the spending and saving more during times when work is overflowing. A successful freelancer can earn as much as a year’s salary in a single month because of the higher rate and flexibility in terms of time. However, this does not mean that this much pay will indeed be enough to support his needs for a year. Blame the tendency to splurge and ‘treat’ oneself whenever there are good times like these to compensate for days when every little peso is stretched to the limit. Set aside a minimum of 10 percent of whatever income you are getting. This way, you will be able to save enough for the rainy days.
- Be debt free. Not having regular income can be a pain if you need to make regular payments to a debt that you have. No matter how tight the finances become, try to be debt free as much as you can!
- Invest in your home. Since you work from home, your home is actually functioning as your workplace as well. Hence, it is very important to ensure its smooth maintenance and operations. Make sure that your Internet connection is good and regularly paid for. Keep your ‘workplace’ facilities clean and in good condition. This includes your computer, laptop, or anything else that you need for working at home.
Jeric is a freelance blogger and a Filipino guest poster that is intersted in social media, online marketing and online money making.