Financial Planning for Freelancers: How to Manage Your Finances
· 6 min read · Tsquared Services
Separate your money
Open a dedicated business account so income and expenses are easy to track and evidence.
Set aside tax every month
Move a fixed percentage of every invoice into a tax account so self-employed Social Insurance and income tax never come as a surprise.
Build a buffer
Aim for three to six months of expenses to smooth irregular income.
Plan for retirement
Freelancers have no employer pension - regular contributions to a pension or investment plan matter.
This article is general information, not personal tax advice. Contact us for advice on your situation.