Money Management for Independent Stylists

For a variety of reasons, more and more traditionally employed people are moving to freelance and contract gigs. In other industries, some are doing so out of necessity—company downsizing and layoffs, especially in brick-and-mortar businesses, have become more prevalent in the digital age. For stylists, the pandemic accelerated that effect as some salons shut their doors during COVID lockdowns. But some workers are doing so out of choice. As the pandemic began to ease, people were quitting their jobs at a record rate—nearly 4 million in April 2021 alone. Others, having become accustomed to the greater freedom offered by working remotely, said they’d look elsewhere if they weren’t allowed to continue working from home. But freelancing has its drawbacks, too. There are no automatic income tax deductions, so you have to keep closer track of your income and file quarterly taxes. And your income is more likely to fluctuate from month to month, so you’ll have to work harder at budgeting. Managing your money doesn’t have to be a nightmare, though, if you follow a few simple principles. Set a good baseline It can be tempting to use your best-income month as your baseline. If you got into freelancing because of the “free” part (freedom), you might want to think you’re earning more money than you are. Since income can fluctuate, it’s better to average out your income for the year, taking into account seasonal changes, and use that as your starting point. You may even want to drop below that number a bit to be conservative. Set aside the extra money you make during more profitable months to cover your expenses during leaner times. You’ll have to continually readjust, too, based on new data. If your business grows, this means you’ll have more money to spend or invest back into your business. Keep your finances separate Create separate accounts for your business and personal finances. This will make it easier to track what you’re keeping for yourself and what you’re investing and reinvesting into the business. Of course, it will require two separate budgets. Fortunately, there are some good budgeting apps that work well for freelancers. There are also apps like Square, Trim, and CountAbout, that can facilitate bill payment for you and your clients. One option worth looking at is registering your business as a legal entity. But weigh the pros and cons. This will cost you extra money at the front end for filing fees and paperwork, but it will also provide you with credibility. If you register as a sole proprietor, you’ll receive all the profits, but creditors will be able to go after your personal property to satisfy business debts. Bolster your credit standing Good credit is always desirable, but even more so when you’re running a small business. You’ll need a good credit rating to qualify for loans you may need to make investments as your business grows. You don’t have to go into debt to build good credit. One strategy you can […]

Click here to view original web page at www.modernsalon.com

The post Money Management for Independent Stylists first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/money-management-for-independent-stylists/?utm_source=rss&utm_medium=rss&utm_campaign=money-management-for-independent-stylists
via https://freelancingbuzz.com

3 Ways Reedsy Can Help Your Freelance Editing

Editing and proofreading are creative but challenging paths, especially as a freelancer. Reedsy , the leading publishing marketplace, offers many opportunities for freelance work, but also insights into different aspects of the industry. Here are three key areas Reedsy can help with, from starting out to building a client base. Make the most of its resources and you’ll be a successful freelancer in no time. 1. Starting Out In Freelance Editing and Proofreading Before you do anything, make sure you understand the difference between proofreading, copy editing, and developmental editing. You can start with the first two and build up to developmental editing when you’re more experienced. Reedsy’s guide for starting a freelance editing business clarifies these terms before listing steps you should take to launch your new career in the best possible way. First, determine your niche—a corner of the literary space where you know almost everything there is to know. Then, manage your business with smart techniques like time tracking. 2. Setting Your Editing and Proofreading Rates Your experience will determine your going rates, as will the niche in which you work, and also your confidence. Once again, the more you know about the publishing industry, the easier it is to find your place in it. According to Reedsy’s guide on freelance editing rates , for example, copy editing business and self-help books can cost $0.022 per word on average, as opposed to $0.015 for romance novels. Proofreading rates tend to be lower—reflecting the relative time commitment required for a proofread. Whatever your direction, coming up with the right rates takes research, careful planning, and support from resources like Reedsy’s pricing tips for proofreaders . 3. Finding Editing and Proofreading Work Landing good jobs is an important milestone in your freelance career. At first, you’ll need to show some flexibility in terms of what gigs you accept, so you can gather experience and reviews, but stay on the lookout for exciting opportunities to take your brand to the next level. To help, Reedsy lists sites for editing jobs . While its marketplace is worthwhile, you can join several platforms for a range of opportunities. Fortunately, there are plenty of options for all editing tastes, if the 26 places offering proofreading jobs that Reedsy suggests are any indication. Think about what kind of work you’re looking for and zone in on the best options. Do you want quick, low-effort gigs or high-end jobs? Do you want a platform with lots of user-friendly tools or just a profile to promote and work from? These are all important factors you can sort through with patience and Reedsy’s resources. Explore Resources for Writers Too As a freelance editor or proofreader, authors are your target audience, so learning more about what it takes to write well can be helpful to both of you. You can help with manuscripts, while also offering career advice. Showing that you care is a great way to boost your reputation and nurture wonderful relationships with clients. A […]

Click here to view original web page at www.makeuseof.com

The post 3 Ways Reedsy Can Help Your Freelance Editing first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/3-ways-reedsy-can-help-your-freelance-editing-and-proofreading-career/?utm_source=rss&utm_medium=rss&utm_campaign=3-ways-reedsy-can-help-your-freelance-editing-and-proofreading-career
via https://freelancingbuzz.com

The Pros and Cons of Freelancing

It’s no secret the Covid-19 pandemic has accelerated technology adaptation — making virtual work the norm and boosting freelance work opportunities. A survey by Upwork found that the proportion of the workforce engaged in freelancing is up to 36% of total workers. The global pandemic isn’t the only reason behind the boom in freelance workers. Freelancers consistently report higher job satisfaction and often even greater earnings than traditional employees. According to CNBC , skilled service freelancers earn a median rate of $28 an hour — which is more per hour than 70% of workers in the overall U.S. economy. Between a flexible schedule, the ability to pick and choose which projects you want to work on and being your own boss — freelancing offers a ton of benefits. However, with it comes several drawbacks. The Challenges Facing Freelancers Freelancers are entirely responsible for tracking, managing and footing their own tax bill. On top of this, they also face health insurance expenses, lack of standard employee benefits and sporadic pay. Thankfully, freelancers can tap into ways to lighten the load and manage responsibilities more effectively. It comes down to using the right tools — such as Lili. Lili is the banking app designed exclusively for freelancers. Lili features tax tools, automated expense tracking, savings tools and even early paycheck deposits. Lili Pro takes things even further. The advanced subscription account offers additional invoicing tools, cashback rewards, advanced expense management, fee-free overdraft and 1% interest on savings. Lili helps alleviate some of the major challenges freelancers face, such as: Taxes: Freelancers are responsible for paying additional self-employment taxes — and they don’t have an employer that automatically deducts a portion of income. It’s up to you to estimate, save and pay on your own. Lili makes this easier — with a free tax estimator, integrated savings tools and automated expense reports. Expense Tracking: One way to offset the burden of paying additional self-employment taxes is by claiming expense deductions. Unfortunately, it can be difficult to keep track of expenses —- unless you’re using Lili. Lili allows you to sort and categorize your expenses on the go and in real-time, straight from your smartphone. Sporadic Pay: It’s not always easy to find consistent work as a freelancer. Clients may end a contract early or shift priorities. Some will even fall behind on invoices. All these factors can lead to a sporadic pay schedule. To make things easier, Lili offers paycheck deposits up to 2 days earlier and fee-free overdraft up to $200. Invoicing: On top of managing work, clients and day-to-day business responsibilities, freelancers are also responsible for creating and sending out invoices. Not only is this time-consuming but also requires extensive attention to detail. Lili makes things easier by allowing you to create, manage and organize invoices directly from the Lili app. Banking for Freelancers When the Delta Surge Could End, and What Comes Next In the U.K., where the highly contagious Delta variant struck first, the number of new cases […]

Click here to view original web page at finance.yahoo.com

The post The Pros and Cons of Freelancing first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/the-pros-and-cons-of-freelancing-and-how-the-right-tools-can-bring-balance/?utm_source=rss&utm_medium=rss&utm_campaign=the-pros-and-cons-of-freelancing-and-how-the-right-tools-can-bring-balance
via https://freelancingbuzz.com

Top 20 Sites That Pay (up to $1 per Word)

Getting paid to write may sound easy, but the reality is a little more complicated. Freelance writing can be hard to break into, and the pay can be low (or nonexistent) for beginners. The trick is to get your first few articles or creative pieces published and then use them to score bigger clients and better pay. And even if long-term freelancing isn’t your goal, building a portfolio that showcases your published work can bolster your career as a writer or subject-matter expert. However, publishing those first few pieces is typically the hardest part of your writing journey. To help, we’ve compiled several places where you can get paid to write now. We’ve also included tried-and-true techniques to allow you to grow as a writer and, ideally, make more money writing in the long-term. If you’re new to freelance writing, one of the first things you may notice is how opaque the whole process is. Websites, blogs and publications often rely on armies of freelancers, but their contributor guidelines and pay are often nowhere to be found. Instead of diving straight into negotiations with editors about assignments and pay, first try to find a site or publication that has a straightforward process for contributors so that you know exactly what they’re looking for and how much they’re paying. (We’ll cover pitching and negotiating further below.) Ready to make money writing online? Here are 20 sites to try pitching: Copyhackers is a content company based in Canada. It provides educational materials to help new copywriters as well as paid opportunities for writers to publish lengthy articles on Copyhackers’ blog. Its submission guidelines are clear: You should be well versed in the topic that you’re pitching. And you should expect to be writing blog posts that are 2,000 words or more “unless it’s extremely wonderfully amazingly readable reading.” Pay : $300 to $1,000 per blog post Categories/Topics: Advertising, branding, UX (User Experience) or marketing concepts; freelance lifestyle or advice; entrepreneurship As its name implies, Listverse specializes in listicles aka list posts. These are highly clickable posts where each main point is part of a numbered list (sort of like the article you’re reading right now!). To narrow that down ever so slightly, the website is broken into several topics: bizarre, entertainment, general knowledge, lifestyle, science, society and more. Your articles should roughly pertain to those areas. Note: Listverse will only pay freelance writers via PayPal. Pay: $100 per list post Categories/Topics: Bizarre, entertainment, general knowledge, lifestyle, science, society and more. To understand what type of articles Narratively publishes, look no further than its tagline: “Human stories, boldly told.” All sections of the website are open to submissions. Just be sure that your story is longform, gripping and has strong narrative elements. For an in-depth breakdown of the different sections and story types, read Narratively’s submission guidelines . You’ll need a Submittable account to send in your draft. Pay: $300 to $400 per article Categories/Topics: Personal essays and reported articles with a […]

Click here to view original web page at www.yakimaherald.com

The post Top 20 Sites That Pay (up to per Word) first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/get-paid-to-write-top-20-sites-that-pay-up-to-1-per-word/?utm_source=rss&utm_medium=rss&utm_campaign=get-paid-to-write-top-20-sites-that-pay-up-to-1-per-word
via https://freelancingbuzz.com

5 Best Free Proposal Management Tools for Freelancers

Freelancers are often faced with the difficult task of writing proposals from scratch for every client. Using free online proposal management tools will offer you relief. Creating a new proposal for every client takes up a lot of your time as a freelancer. Instead, using online proposal tools helps you spend this time finishing your existing projects and finding new gigs. Check out the following apps for proposal management, so you can always give your best to a new client. 1. Proposify This free online proposal tool is particularly suitable for freelancers who need a quick tweak to proposal templates to customize for different industries. Creating, sending, and managing proposals are now simple and quick. Proposify offers options to add text, images, and videos to the proposals. The interface of this tool allows drag-and-drop so that you can add various sections to the proposal document without much effort. You can also modify the text boxes, tables, sidebars, and background colors in its layout editor. Moreover, its robust analytics features let you know the section of your proposal that got the most views, the number of times the proposal got viewed, the duration of the views, etc. It offers you the facility to embed YouTube and Vimeo videos into your proposal with ease. Its Online signature tool allows faster signing of proposals once the client agrees to do so. With the help of Proposify, you can further track the performance of the proposals you send. Thus, you will have a better idea of the proposals that benefit you and the areas where you should improve. Download: Proposify for Android | iOS (Free) 2. PandaDoc This online proposal app is also a smartphone-based tool that works fine on both iOS and Android. PandaDoc lets you create customized proposals by quickly filling in the document fields of the template proposal. As you can build any template document here, sending any other necessary information with the proposal to your client is just a few clicks away. The custom notification feature of this tool empowers you by spontaneously informing you about some actions. For example, you can enable notifications to know when the client opened the document, the time they spent reading the proposal, and the time of signature. The two major resources of PandaDoc are templates and a content library. You can create templates for the proposals and include images or formatted copies to brand them as per your freelance business . You can save your portfolio for any particular industry or terms of work in the content library. Whenever there is a need to customize the proposal, add information in the square brackets. ‍This tool offers easy integration with various CRMs. It is also useful to create proposals that include collaboration. Download: PandaDoc for Android | iOS (Free) 3. Bonsai While working as a freelancer, a proposal is not the only thing you worry about. You need to manage your clients, calculate task time, prepare invoices, and many more. Bonsai offers you […]

Click here to view original web page at www.makeuseof.com

The post 5 Best Free Proposal Management Tools for Freelancers first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/the-5-best-free-proposal-management-tools-for-freelancers/?utm_source=rss&utm_medium=rss&utm_campaign=the-5-best-free-proposal-management-tools-for-freelancers
via https://freelancingbuzz.com

7 Side Hustles That Earn $1,000 a Month

Image source: Getty Images Almost any skill can be turned into a profitable hustle. An easy way to improve your financial situation is to boost your income. You can pay down debt faster, rest easier with a well-funded emergency fund, boost your retirement account — the options are endless. While you can ask for a raise or switch jobs to make more money, those options aren’t always available. That’s where a good side hustle can fill the gap. But not all side hustles are created equal. Any extra income is great to have, but sacrificing your precious free time should come with a proper boost to your bank account . The following seven jobs all have the potential to bring in $1,000 a month or more in side-hustle earnings . And chances are you have already cultivated the skills or hobbies needed. By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions . 1. Tutor or consultant If you have a useful skill, you can probably monetize it. Whether you’re an ace at algebra, play a mean tambourine, or can boost a company’s bottom line, someone out there can likely benefit from your experience. How much you can make tutoring or consulting will depend on any number of factors, including the rarity of your skill or experience. If you’re tutoring young students, you can expect rates around $15 to $25 an hour. At more advanced levels, tutors can easily charge $30 to $50 an hour. And a top-level consultant can bring in $100 an hour or more, depending on the industry. 2. Virtual assistant Most of us lead busy lives, but some folks are better at it than others. If organization is your skill, consider becoming a virtual assistant for someone who needs a hand staying on track. Virtual assistants do anything from keep schedules and send errand reminders, to scheduling business meetings and overseas travel. The amount you make will generally vary based on the hours you work and the complexity of the tasks you perform, but $15 to $25 an hour is common. 3. Freelance writer Anyone who has a way with words can work as a freelance writer. It helps if you have both a good grasp of grammar and a strong knowledge about a specific topic. Experts in niche markets will make the biggest bucks. Even if you aren’t the best writer, you could put research skills to work compiling listicles for popular websites. And folks with a knack for pithy social media posts can offer their skills to companies looking to boost their reach. Writers get paid in a few ways, including by the word, by the project, or by the hour. Rates at the bottom of the ladder aren’t great, but those with a bit of experience can easily make $15 to $25 an […]

Click here to view original web page at www.fool.com

The post 7 Side Hustles That Earn ,000 a Month first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/7-side-hustles-that-earn-1000-a-month/?utm_source=rss&utm_medium=rss&utm_campaign=7-side-hustles-that-earn-1000-a-month
via https://freelancingbuzz.com

Earn $1,000+ With This Free-to-Start Side Hustle

Image source: Getty Images Many people are starting side hustles or are thinking of doing so. A recent study conducted by The Harris Poll found that 61.1 million Americans plan to start a side hustle in 2021. A side hustle can allow you to maximize your income potential and expand your skills. There are side hustles that work well for all kinds of interests. Freelance writing is one popular side hustle that is free to start, and it can bring in $1,000 or more per month. Yes, that’s right, people and companies pay others to do their writing for them. Whether it’s a press release, a web page, an article, or a brochure — someone wrote it. You can start your own freelance writing business providing web content for others and can do it without spending any money. While you may see some side hustles advertised that require money upfront before getting started, freelance writing isn’t one of those opportunities. So if you’re interested in bringing in more money and want to do so through writing, check out the following tips for better success. By submitting your email address, you consent to us sending you money tips along with products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions . Choose an area of focus Many writers pick an area or a couple of areas to focus on. When you write about any topic in general, it can be hard to stand out against the competition. Choosing a niche allows you to write about topics that interest you, and it helps you establish yourself as an expert. Whether you want to write about fitness, health, business, real estate, travel, or finance, pick something that you enjoy, and pick a focus that you already know about or that you’re willing to learn. If you choose a topic you don’t find interesting, you may end up giving up on your side hustle. Practice, practice, practice! Don’t let a lack of experience keep you from pursuing this side hustle. If you don’t yet have a lot of writing experience, take the time to practice and learn! The more you write, the better you will get. You’ll also feel more confident in your abilities. Create some practice pieces and then use these pieces as samples to show prospective clients. Set your rates Make sure you set your rates so that you’re getting paid fairly for your work. Your time is valuable. If you set low rates, you’ll have to work a lot harder and spend more of your time writing to reach your income goals. Plus, you may not have enough time to find additional clients who pay better because you’ll be too busy. By setting your rates higher from the start, you can maximize the income that you bring in and feel good about the time that you’re spending writing. If you’re unsure where to start, join writing […]

Click here to view original web page at www.fool.com

The post Earn ,000+ With This Free-to-Start Side Hustle first appeared on Freelancing Buzz.

from Freelancing Buzz https://freelancingbuzz.com/earn-1000-with-this-free-to-start-side-hustle/?utm_source=rss&utm_medium=rss&utm_campaign=earn-1000-with-this-free-to-start-side-hustle
via https://freelancingbuzz.com