5 Money Tips Every Freelancer Should Know

Written By:

Haley Sacks

(aka Mrs. Dow Jones)

Calling all freelancers! Mrs. Dow Jones is back with five essential money tips. Whether you're a seasoned freelancer or just starting, you NEED to know these 5 money tips.

Emergency Fund Essentials

First up, save that emergency fund – 3 to 6 months in a high-yield savings account. Because, let's face it, life throws curveballs.

Get Insured

Beyond health insurance, consider disability insurance. It's an extra layer of protection, providing income replacement if life throws you a curveball.

Quarterly Tax Payments

Freelancers, make those quarterly tax payments. Your employer isn't deducting it from your paycheck, and nobody likes a surprise tax bill.

Invest in a Great Accountant

Yes, it's worth the money. Writing things off is part of the freelancer fun, and your accountant is your ticket to maximizing those deductions.

Plan for Retirement

Just because you don't have a 401k through an employer doesn't mean you can't grow wealth for retirement. Check out my other video for the lowdown on SEP IRA, Solo 401k, and SIMPLE IRA.