3 Questions To Ask Yourself Before Spending Your Freelance Income
- rhizadxb
- Jun 5, 2020
- 2 min read
Freelancing does not guarantee that you always have a job therefore, managing your income is necessary.
Here are the 3 questions that you need to ask yourself before spending all your freelance income.
1. How will you prioritize your budget as a freelancer?
As a freelancer, you need your paycheck to sustain your needs, however, it doesn’t mean that you will spend all of it. Make sure to make a budget, and if ever you want something, ask yourself if it’s very important or not. Knowing the difference between needs and wants is essential that is why, before coming up with your purchase decision you need to evaluate the level of necessity of it or else, you will end up buying unnecessary things.
2.) Do I need to save?
Yes, it is because in saving it makes you financially secure, and in emergencies, you are prepared. Another reason why you need to save is that you can take calculated risks with less worry.
An example of this is when you are putting up a business, you need a fund for capital to start that business, and when you don’t save, you will end up having a loan from a bank or any financial institutions.
Some freelancers tend to spend all of their money because they know that there will be more projects to come, and more projects means more income. Break that habit and keep in your mind that every centavo that you are earning is a fruit of your labor that you need to treasure.
3.) Do I need to invest my money in my professional growth?
Freelancing market is continuously evolving and so business needs in terms of remote workers evolves. In order to make you a competitive freelancer, it is necessary to always crave to learn something new, enhance your capabilities, and keep yourself up to date as a freelancer.
But, how will you do that?
You can enroll in an online course or attend a webinar or a training about something that you wanted to add up on your current skill sets.
Investing on your professional growth means investing on your future. You may not feel the effect of your investment now, but believe me the return of investment in the future is much fulfilling.
Conclusion
Whatever question is in yourself, as long it is beneficial and will help you to grow especially in freelancing, do it. Believe in yourself, and empower your freelancing career.
Get guidance from the Filipino Virtual Assistance, if you need one today, we are here to help you succeed.
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