Site url: https://www.momentum.co.za/momentum/campaigns/general/geldhelde-season2/manage-and-save-money-as-a-freelancer
Pagecontext: org.apache.jasper.runtime.PageContextImpl@a49985e2
NameValue
breadcrumb.start.level4
param.sharing.scope.{http://www.ibm.com/xmlns/prod/datatype/content}ibm.portal.sharing.scope.page
param.sharing.scope.{http://www.ibm.com/xmlns/prod/datatype/content/resource-collections}ibm.portal.sharing.scope.page
param.sharing.scope.{http://www.ibm.com/xmlns/prod/websphere/portal/v8.0/portal-contextual-portal}ibm.portal.sharing.scope.page
wcm.template.oidZ6_48GC1K80O0FH90QS83FHN530K6
param.sharing.scope.{http://www.ibm.com/xmlns/prod/websphere/portal/publicparams}path-infoibm.portal.sharing.scope.page
breadcrumb.enabledtrue
param.template.pageZ6_48GC1K80O0FH90QS83FHN530K6
param.sharing.scope.{http://www.ibm.com/xmlns/prod/websphere/portal/v7.0/portal-contextual-portal}ibm.portal.sharing.scope.page
hide.from.menutrue
dynamic.sitemapfalse
param.sharing.scope.{http://ibm.connections.com/portlet}ibm.portal.sharing.scope.page
label.namepersonal
sitecontext:personal
ibm.template.oidZ6_48GC1K80O0FH90QS83FHN530K6
menu

Managing your money as a freelancer

This week on Geldhelde we share helpful insights on how freelance workers can plan their finances to withstand cash flow interruptions, buy property, choose suitable insurance, and much more. As the country is going through a national disaster caused by the Covid-19 outbreak and businesses are scaling down, freelancers’ financial statuses are being tested. This is the right time to ensure that, as a freelancer, your budgets, as well as your short and long-term plans are in place. The truth is, budgeting is every bit as important for the freelancer as it is for the person with a traditional job.

The importance of a financial plan

There are a number of advantages of working as a freelancer, and amongst them is the ability to work for several employers and making more money. But there are also disadvantages, like your future income being uncertain which makes it difficult to plan your finances. That’s why it’s important to get help from a financial adviser. Because your cash flow can be uncertain, you need an emergency fund that will cover your essential needs for at least three months to a year. A long-term financial plan is the most important one to ensure that you plan for things like retirement. At Momentum, we can help you plan and manage your retirement. Get more similar practical financial tips, watch Geldhelde, every Monday evening at 19:30, via.DStv, channel 147.

How do I save as a freelancer?

Saving as a freelancer can be challenging and needs extreme discipline, especially when you get a lump sum payment. Remember to cover all your short and long-term costs first. It’s a good idea to put in place automatic transfers from your bank account to your retirement account to ensure your savings plan stays on track. Also, consider boosting your savings with windfalls, like tax refunds or big client payments, whenever you can.

As a freelancer, get tailored car and home insurance from Momentum

Owning property as a freelancer

A frozen raspberry smoothie bowl topped with hemp seeds, sliced banana, shredded coconut, and oat and raisan muesli.

Are you a freelancer and need help planning your finances?

We use cookies to provide the best experience. View our Cookie Policy.

Internet Explorer is out of date. Update your browser to ensure our website functions correctly.

Your browser's cookies are disabled. Enable cookies to ensure our website functions correctly. View our Cookie Policy.