The freedom and flexibility that working as a freelancer brings is a dream for many working in nine-to-five office jobs. Freelance careers offer not just flexibility but control over your time, schedule and career. However, despite the hugely positive draw to going freelance, it can be a somewhat unpredictable and unstable means of making money, let alone saving. For our generation saving can seem like a distant pipeline dream, but it’s even more important when looking to go freelance. Savings for a freelancer enables you the security to have a quieter month, without worrying that you won’t have enough to make ends meet. However, it’s incredibly difficult to save when you’re only just finding your feet – often in the beginning even just paying your rent is stress-inducing enough, without attempting to think about putting money aside in a savings account. Frankly, it’s not even an option for most newbie freelancers. But with increasingly expensive demands on our finances – for instance, the price of renting an apartment letting alone buying one – having a stash of savings is more important than ever. Now that I’ve sufficiently scared you into the importance of savings, let’s look at ways you can save money in the early days of your freelance career. [Read more…]
I save over 50% of my income. Whenever I tell people this, I always get this astonished look followed by the question ‘how do you do it?’. People always assume there’s some big secret or magic trick to saving more. There really isn’t. It comes down to two factors. You either have to make more or save more.
Earning extra income can be a little tricky. If you want to save over half of your income, start by trying to save more. And to do that, you need to cut your budget. It may seem impossible but there are painless things you can do everyday that will cut your budget in half.
I hate to admit this since I have a personal finance blog and would probably lose any credibility I have. But I’ll just go ahead and say it: I’m financially lazy. I’m a sucker for convenience and would throw away money just to save some time and effort. In my defense, that can make perfect sense sometimes. But not when I’m getting take-out six nights a week.
Trying to right my ‘financially lazy’ ways has always been a constant struggle for me. Sometimes, I’ll take it to the other extreme and waste loads of time just to save a couple bucks, which isn’t good either. I’m sure many of you can relate. I think I’ll always be sort of financially lazy (at least a little) but there are little life hacks I’ve implemented that have made my finances better and my life easier. [Read more…]
I remember the first time I attempted to create a budget. This was a few years back and I was still confused about what exactly a budget was. But hey, if everyone was doing, shouldn’t I? Needless to say, my first budget wasn’t successful and I’ve since gone through countless iterations.
Creating a budget can be overwhelming, especially if you’re young and still trying to figure out what to do with your money. To start, don’t try to do too much. Forget the gigantic spreadsheets and maze of numbers. Your first budget should be effective, yet simple. Take a look at these 4 easy steps (plus one important pre-step) to creating a successful first budget.
I love to travel, especially when it’s cheap or even better free. When I first started traveling more a couple years ago, I started doing some research on how to travel on a budget. What I discovered was that many people were “travel hacking” by churning credit cards. If you’re not familiar with this, it’s basically signing up for credit cards for the rewards or promotions, with the intention of using it for travel. Say what, free travel? Count me in! I gave it a try and while it worked, I wasn’t sure it was for me. [Read more…]