Five successful freelancers share their own advice for managing money when you become your own boss
Photo-Illustration: by Stevie Remsberg; Photos Getty Get That Money is an exploration of the many ways we think about our finances — what we earn, what we have, and what we want.
Below, five other successful freelancers share their own advice for managing money when you become your own boss. 2. Have some savings before you start, and don’t freak out if it takes a while for work to come in. It might take you 6 to 12 months to settle into freelancing, just like any other new job. If you started a salaried job in an office, you would get paid while you took lunches with your co-workers and got set up. But when you’re a freelancer, you don’t. All the networking and contact-making and learning the ropes is on you.
4. Don’t let anyone mess with your paychecks. A lot of freelancers let that 30-day payment deadline turn into 120 days, but the moment a month goes by and I don’t get a check, I’ll do a follow-up. If day 45 rolls around, I will send a demand letter. I was taken advantage of by big companies when I first moved to New York and didn’t know any better. When that happens, it not only hurts me; it also sets a precedent for when that company works with the next freelancer.
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