7 Personal Finance Tips for Freelancers

Image source: Getty Images Being a freelancer or gig worker can be rewarding, but it can be easy to make poor financial decisions. These tips will set you up for success. According to a study conducted by Upwork and Freelancers Union, 57 million Americans freelanced in 2019. It’s likely that this number will only continue to grow in the coming years. Whether you’re freelancing on a full-time basis or working a gig as a side hustle , it’s essential to keep your finances in order. That’s because this kind of lifestyle has different financial implications. Keep reading to check out some personal finance tips for freelancers and gig workers. 1. Outline a budget The first thing you’ll want to do is outline a monthly budget. You need to know how much money you need to make to cover all of your expenses, bills, and savings needs. This will help you set your freelance income goals. If you need help budgeting, we have some excellent budgeting tips . 2. Set aside money for taxes If you’re a freelancer or gig worker, you’re probably classified as an independent contractor. This kind of work is different from a W-2 paycheck job. Instead of having your taxes taken out of your paycheck, you’ll need to set aside a portion of your income for your taxes yourself. Make sure you do this on a weekly or monthly basis to avoid added financial stress. 3. Pay your taxes quarterly As a freelancer or independent contractor, you should pay your taxes every quarter. You’ll pay estimated taxes throughout the year since the taxes aren’t coming out of your paycheck each month. Make sure you pay all local, state, and federal taxes quarterly to avoid penalties in April. Plus, you’ll feel better knowing that you don’t have a huge annual tax bill. 4. Hire for tax preparation If you’re new to gig work or freelancing, you may be confused about your tax situation. That’s understandable, but you don’t want to guess your way through filing your taxes because you may make costly mistakes. Instead, hire a professional to help out. You’ll be less stressed, and you’ll feel more confident knowing you filed your taxes correctly. 5. Don’t ignore retirement savings Just because you don’t have a W-2 job with retirement benefits doesn’t mean that you should ignore saving for your retirement years. If you’re freelancing and have no job benefits, you need to think about the future. Treat your retirement savings as a monthly bill when budgeting and set up automatic contributions. There are several retirement account options to consider, including a Roth IRA, IRA, SEP IRA, or Solo 401(k). 6. Set aside an emergency fund When you freelance or work in the gig economy, your income can fluctuate throughout the year. There may be times when you’re not making much money, and an expensive, unexpected bill comes up. Having an emergency fund is critical. When times are good and you’re busy with plenty of work, don’t […]

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Easy Way to Start Freelance Writing Career

How to get paid to write articles? We’ve heard a lot lately about the “side hustle.” Between the pandemic and the mass move to online work instead of in-person, there is so much talk about making some extra cash freelancing. Freelancing is making people everywhere almost an entire second income on top of their regular job. Writing has become one of the most popular freelancing tasks to complete because you don’t need anything you don’t already have. You only need a laptop and what you can put on the page. But how does one go about it? There are a few different ways to start a side hustle as a freelance writer, and it’s easier than ever to do it. Your side hustle as a freelance writer can begin in a variety of ways. Something you should probably first consider is what kind of writing you want to do. How to Start a Freelance Writing Side Hustle in 2021 There is much opportunity in almost every aspect of writing, and you can do as many different types of writing as you’re practised in and capable of, which brings us to the first point, practice, practice, practice. Write some prompts you see, re-write articles you might read and think you could improve, and look at aspects of writing you like and want to emulate. Depending on which faction of writing you wish to do, look at other material that is successful and notice which pieces you’d like to bring to your writing style. In any venue you select, you’ll likely also need a portfolio to show potential buyers what you can offer as their writer. While you’re building this portfolio, try to think of the different services you can provide and the various tones you need to show that you can provide. For instance, if you’re interested in offering prose or something on the creative front. You would do well to have different examples of this. Choose your niche. Creative writings that you’ve done, poems you might have written, and pieces you might have that lend themselves to that creative medium. If you’re thinking about going into the article and blogging format, it might be a good idea to research the types of pieces you might need to write and the tones that they convey. You might be asked to do informative bits, educational articles. Or more fun-loving pieces, and you need to be comfortable with all of these types as one of the most important things is to be a versatile writer. Another thing to get comfortable with is how to use focus words and SEO concepts if you are moving into freelancing for blogging and articles. There are many free videos and articles on how to properly SEO your piece. So that your employer will have everything they need to correctly catalog and push their website using your article. The words you use and repeat throughout your article help with web traffic and expertise for the site you’re […]

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Freelance SEO Writer – Work from Home

We’re on the hunt for clever content writers with a passion for wowing audiences, delighting clients and transforming widespread ambivalence into measurable engagement. Nodding enthusiastically already? Great, you could be the person we’re looking for. What we need To borrow a tired recruitment cliché, no two pieces will be the same. You may be challenged to write blogs, website content and category for a diverse range of industries, changing gears from piece to piece depending on business needs. From the soft and cuddly world of pets to the roar of a car’s engine, we need brains at the ready to translate jargon heavy info into valuable (and easy-to-read) content. Obligatory about us Full Measure Digital started life as a small consulting project back in 2010. Ten years later, we are one of Australia’s leading SEO and SEM agencies, taking pride in the work we do for our long list of clients: everyone from owner-operated small businesses up to industry leaders like Jetstar, Myer, Uniqlo, mycar (formerly Kmart Tyre and Auto) and Open Universities. Our vision is simple: to be the best search agency in Australia at delivering our clients tangible, profitable business growth. We do that by hiring the best team, deeply understanding our clients’ businesses, genuinely caring about their results, and constantly driving growth based on data-driven marketing. What’s in it for you: $50 – $100 per piece (dependent on experience and content type) SEO training and ongoing mentoring Industry support and networking A thriving community channel to swap tips, complaints and tricks- we’re all in this together A foot in the door – all levels of experience considered. Get Your Application Noticed by: Writing a targeted cover letter Submitting an updated CV Including three examples of your writing Need to Know: Your application won’t be considered if it doesn’t include the impact trifecta described immediately above. Your application won’t be considered if it doesn’t address the screening questions. You’ll need an active ABN This is a remote opportunity available to Australian writers and content professionals

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The benefits of hiring medical device freelancers

Ramya Sriram, digital content manager of online freelance platform for scientists Kolabtree, describes how freelancers can help medical device companies reduce time to market. The pandemic has caused many medical device companies (MDCs) to start working remotely, but it can be challenging to effectively bring a remote team’s experiences, expertise and alternative viewpoints together effectively. Outsourcing allows medical device companies to reduce their workloads, so they can focus on the most important jobs — functions that help grow the business or help the product reach the market faster. Virtual workers can be used throughout the process of bringing a device to market, for example, performing literature searches, applying for grants or regulatory writing. According to PwC, in 2018, the global healthcare industry spent around $169.5 billion on R&D, and it is projected to become the largest spending sector in the near future. Small and medium-size enterprises (SMEs) with smaller budgets may find it difficult to launch products in a market where competitors have such deep pockets. One way to make the most of a limited budget is to work with freelancers, contracting specialists for individual tasks for a defined project length. This can form part of a smart approach to the allocation of resources during the early stages of product development. When the project becomes more viable, medical device manufacturers can then invest in specialist freelancers or full-time employees, as well as any required equipment or facilities. Culture and communication A business looking for a freelancer to perform, for example, specific data analysis or clinical trial design, can benefit from access to a highly experienced talent pool — they can even recruit from other cities or time zones. The company can recruit for specific tasks, dependent on where they are in their project, their strategy and the expertise of the team. For example, an experienced freelancer can help an MDC find opportunities for collaboration with additional experts in the field, such as doctors or scientists, who can act as Key Opinion Leaders (KOLs) and advocate for their product. A KOL can also provide useful industry insights and highlight sector specific issues that may extend the research stage, such as particular end user requirements. Or if the SME does not have a particular design in mind, it could engage a product development freelancer to help identify gaps in the market that spark unique product ideas. This stage could include searching for pre-approved equivalent devices on the market to gain a better insight into existing solutions. An MDC can also work with clinical trial consulting freelancers for help with designing and optimising research studies. If the MDC requires funding to get a project off the ground, accessing the skills of someone that has already successfully applied for the grant can be a real asset. Freelance grant writers bring experience from past projects, so securing funding becomes a smoother process. Grant writers can manage literature and documentation and also gather the evidence and information needed to support the application. This funding knowledge […]

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5 Foolproof Ways to Make Extra Cash From Home

Are you looking to make some extra cash? Finances are tight for many families now, so many people could benefit from having another income to help pay the mortgage or put food on the table. No matter what you’re motivation is, making money at home is easier than you might think. To help you get started, here are five ways to make extra cash from home: 1. Find a Virtual Job Picking up a second job to help make ends meet has never been easier. Now, you can find work virtually so you can bring in extra income without having to leave your family. Many different positions are hiring right now that allows you to work virtually. For example, you can pick up freelance writing, accounting, teaching or tutoring, assistant work, and more. Fiverr is a website that allows you to find gig-work in many different industries easily, so you can start making money from your skills right away. You could also consider starting your own business. Platforms like Etsy allow artists all around the world to sell their work online. If you have a creative skill or product ready to sell, create an online shop today and start getting paid to do what you love from home. 2. Take Surveys Online If you don’t have enough time to commit to a second job, taking surveys online is a great way to bring in extra cash when you have a spare few minutes. Some online survey companies will pay you as much as $50 per hour to spend time taking a survey and giving your valuable consumer opinions. Survey Junkie, Inbox Dollars, and Opinion Outpost are just a few websites where you can take a survey and earn some money. 3. Utilize Cash Back Apps How can you save money when you don’t have enough free time to take on more work? Try an online shopping app that gives you cash back at the stores you already shop at frequently. Apps like Rakuten, Ibotta, and Dosh give you a percentage of cash back into your pocket just for shopping at popular retailers online. These websites also run promotions with higher cashback rates, so you can save as much as 10% (or more) just for buying things you needed anyway. 4. Sell Your Clothes Many families have tons of clothes around the house they’ve grown out of or no longer wear. There are many different online thrift stores that you can send in your old clothes and get cashback. ThredUp is a completely online thrift store. The company will send you a bag to fill with clothes, and you send the bag back to them, they’ll process it and tell you how much they will buy your clothes for. This is a straightforward way to make extra cash for old clothes you’re never going to wear again. 5. Sell Your Old Electronics Did you buy a lot of electronics or old video games that you no longer use? Consider selling […]

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How Can Freelancers Ensure Internet Safety?

Freelancers have a tough time managing their internet security online. They need to use appropriate tools and precautions to ensure maximum data safety. Freelance writers and professionals can protect their work with a legal disclaimer and in legal terms using Indy Contracts . Freelancers need to stay aware of these common data security guidelines to ensure that they don’t fall into the trap of hackers and cybercriminals. Be Wary of Unfamiliar Links A freelancer can come across random links, which may be suspicious. Freelancers must not click on any suspicious links. These links often take the user to a malware-infected site and steal their sensitive data. It is also called a phishing attack. Those sites often resemble any genuine websites, but they link to a fake website. It’s a serious concern and warrants immediate action by the online security expert. New Traders Swear By Benzinga Options ★★★★★ “9 out of 10 trades are winners!” – Cameron W. Houston, TX We sift through this volatile market for consistent trades so you don’t have to. Get Benzinga Options: Starter Edition to follow Benzinga’s high-conviction options trades. Click here to get my trades! Always pay close attention to every URL link before clicking on the same. If not needed, then please don’t click on any such links. Usually, Google or Mozilla often warns the user when they are about to click on a suspicious link. Never ignore the warning. Confirm Identity Protection Online safety is paramount. Keep all necessary data under check. If a cyber hacker ever gets sensitive information like a Social Security Number or Credit Card, it can be misused. The best way to ensure online safety is to keep all confidential information under wraps. Frequently Alter Passwords The golden rule of password safety is to use a different password for different accounts. No freelancers should ever use the same passwords for various user accounts. It can badly impact the integrity of the password. Keep altering passwords at frequent intervals. A freelancer has to use several passwords. He must keep every password-related data a secret. That’s why frequent changing of passwords is a good idea to keep personal data up to date and hard-to-crack. Use Updated Software Hackers and cyber frauds have one thing in common. They often use outdated tools and software to make a backdoor entry into PCs and devices. For freelancers, updating software tools with auto-updates is the key. Another way to protect one’s devices and software is by using Antivirus tools and firewalls, which can alert the user whenever there is any data breach. Use an Online Payment System Freelancers need not send their bank details to all their clients. The best option to receive payment is by installing and integrating a highly secured payment system like Indy. It comes with an invoicing software tool through which freelancers can charge their fee for their services through invoices. The Conclusion Although there are many malicious characters on the internet, there are also many opportunities to grow one’s […]

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Busting 5 Myths About Healthshares

healthcare healthshares What are healthshares and how do they benefit freelancers’ healthcare concerns? Walk into any Starbucks and along with the shuffling of paper cups and the din of barely hushed conversation, you’ll always hear the pitter-patter of laptop keys. Though quiet, those keystrokes represent the resounding boom of the freelance economy’s growth. Every year, millions of workers walk out of the front door of office buildings with boxes full of their desktop baubles, a few framed photos, and their “World’s Best Boss” (where applicable) coffee mug for a life untethered and independent. In fact, 57 million U.S. workers — who represent 35 percent of the workforce — now freelance , according to the Freelancing in America Survey conducted by the Freelancers Union and Upwork. Even as these newly freed workers soar with optimism and possibility , they are grounded in some real concerns. Chief among these concerns is how to pay for healthcare. In order to make the best decision in your life as a freelancer, here are 5 healthshare myths you need to stop believing. 1. Healthshares work just like health insurance. While healthshares and health insurance meet the same need, they go about it differently. Healthshares and health insurance both try to meet the same need — help with your medical expenses. However, they go about it in entirely different ways. With a healthshare, you join a community of people you have something in common with, like your occupation, faith, or commitment to healthy living. The community then shares certain medical expenses according to the guidelines everyone agrees to. That’s very different from ACA governed health insurance plans who have mandates on what they must cover and who they must (or must not) provide insurance to. For some, those mandates provide necessary assurances and peace of mind. For others, they are an unnecessary cost. That means that healthshares are a good alternative for some, but not necessarily a replacement for health insurance for all. Some key differences include the following: Healthshares make their own decisions about what they will share with the community and are free to deny claims for things the ACA mandates insurance companies cover. Since healthshares are more specifically tailored to their members and mitigate costs by pursuing the fair market price for medical needs, they may be significantly less expensive than insurance. Healthshares save money and time by leveraging telemedicine. Healthshares are not subject to the open enrollment period for new health insurance — you may join at any time. Healthshare plans are not always eligible for HSA reimbursement. Healthshare plans usually do not restrict who you can see for treatment and will usually reimburse expenses for seeing whichever professional you choose. Healthshares also focus on mental well-being and have benefits for behavioral health. Health insurance may provide more security for those with serious, pre-existing conditions. 2. Healthshares are “sketchy” because they are unregulated. Thankfully, healthshares are not regulated by the Affordable Care Act (ACA). That’s part of what makes them attractive […]

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