Three Top Tips for the Self-Employed

Some people just aren’t suited to standard employment. Although they may spend years working in an office, a factory, or a warehouse, sometimes their dreams are bigger. They want increased freedom, a life spent at the helm, the ability to pursue their own ideas without any constraints…

Three Top Tips for the Self-Employed

If you’re self-employed, or considering taking the plunge, you can probably relate to these feelings. But the truth is that working for yourself has its downsides too, and one of these is the total responsibility for your success, especially with regards to your finances. Without anyone there to guide you, it all rests on you, and you need to get it right.

Luckily, there are ways of doing this. Here are three to get you started…

#1: Have a Contingency Plan 

One of the main things that you’ll miss once you take the plunge and start working for yourself is the safety net offered by standard employment. No longer will you have a guaranteed monthly wage, sick pay, or holiday cover; it will be down to you to provide these for yourself. This is why experts recommend that you should always have at least six months’ worth of living costs in the bank before you leave your existing employment, and why they also suggest maintaining this amount in your savings permanently so that you have something to fall back on.

#2: Actively Tout for Business 

Another top tip is to actively go out and look for work. Although old-fashioned advertising methods such as leaflets and business cards have their uses, they can be expensive, and may not be seen by the right people, so it’s usually better to go straight to the source. By this, we mean potential clients, and for those who are self-employed, there will often be handy websites to help hook you up. LinkedIn is good for everyone, but more specialist sites, such as Copify and its ilk for freelance writers, will often have more immediate and direct results.

#3: Engage an Accountant 

Thirdly and finally, those who are self-employed will find the services of an accountant invaluable. Once you leave standard employment, financial matters will all fall to you to take care of, and some people simply aren’t suited to dealing with this responsibility. Companies like Just Accountants are the answer. Ideally equipped to keep you in the black and your accounts in order, they’ll take charge of those tasks that are beyond you, and won’t charge you the world to do it.

Follow these three top tips today to make life as a self-employed business person a veritable walk in the park.

About Tina Roth

Get to Know Me Better. Hi, I'm TINA! I am a financial planner, blogger, and freelance writer and digital marketing consultant. The idea of starting a finance blog has been hitting me for long; I took it seriously after falling into a spiral of finance debacles and recovering from it. Here I write about personal finance and money management tips.

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