Understanding and managing your finances is pivotal to your freelance career’s success. Without a dedicated accounting department, it falls on your shoulders to track your income, handle your expenses, and meet your tax obligations. But don’t let this intimidate you. In this article, you’ll learn about the importance of freelancer accounting, financial planning for self-employed…
As a freelancer, you know that negotiating contracts is a crucial part of your business. These contracts protect your rights as a service provider and establish a solid foundation for the working relationship with your clients. However, the negotiation process can often seem daunting, especially if you just started freelancing. With the right information and…
In today’s gig economy, financial stability can sometimes seem elusive. Irregular income streams and lacking traditional employment benefits necessitate a savvy financial management approach. In this context, understanding two fundamental financial concepts–saving and investing–is critical. Both saving and investing are cornerstones of sound financial management, but they serve different purposes and are influenced by other…
The freedom to choose your clients, determine your hours, and truly own your work can be an exhilarating experience. But with freelancing comes the often complex, sometimes daunting task of managing your finances. Suddenly, you’re not only your own boss, but also your own accountant, tasked with keeping track of who owes you what, when,…
Embarking on a freelance career in the Philippines offers numerous benefits, such as flexibility, autonomy, and the ability to pursue your passion. However, the shift from traditional employment to freelancing often comes with the added responsibility of managing your financial resources. Surprisingly, many freelancers lack the knowledge and skills to effectively manage their finances, which…
The demand for flexible and remote work opportunities is rising in today’s fast-paced and digital world. Two popular career choices for individuals seeking independence and the freedom to manage their schedules are freelancing and becoming a virtual assistant. At first glance, freelancing and virtual assisting may seem remarkably alike, both providing the opportunity to work…
In today’s globalized economy, Filipino freelancers like you are given opportunities to carve out a niche in the competitive freelance market. But to stand out, you need to leverage effective communication tools that enhance your ability to collaborate and unlock new avenues for expanding your freelance business. When you harness the power of online communication…
Managing finances can be challenging for anyone, but it can be particularly difficult for those without a steady paycheck, such as freelancers. Freelancers are responsible for paying for their own benefits and taxes as self-employed individuals. In fact, FreshBooks’ Money Matters: The Freelancer Finance Report revealed that people who work for themselves experience various challenges,…
Freelancing in the Philippines has become popular for many individuals who want to take control of their careers and work independently. However, as a new freelancer, navigating the various aspects of starting and running a successful freelancing business can be overwhelming. That said, it’s crucial to clearly understand the basics of freelancing, such as determining…
If you’re a Filipino freelancer, you’ve likely experienced the ups and downs of an unpredictable income. This feast-or-famine cycle can make managing your finances a daunting task. However, one of the most crucial steps is to create a budget process that works for you. In this article, we’ll explore the significance of setting a healthy…