Seriously, how do these freelancers live? The more we work on this issue, the more we’re increasingly drawn to the life of a freelancer. But we just can’t shake the fact that we like steady income, pension, insurance, etc. you can forget about all that as a freelance worker. Furthermore, you’re on your own, so it is up to you to manage your money and ensure you have some saved for those low seasons where work is dry. Where does one even begin?

Forbes has put out it’s three top tips for saving and investing your money as a freelancer: but before it gets into that, it urges that you MUST have a well-maintained budget. Then there’s the self discipline required to top up and hold on your rainy day fund. Assuming you’ve saved enough to begin investing, the piece advises you to be cautious when considering short-term investments. Especially when there are money managers out there who can’t wait to entice you on smaller scale but get-rich-quick plans. It notes that you don’t have to avoid these all together, just make sure you do the homework. And finally, it encourages looking at long-term investments. Some financial advisers recommend freelancers save up 10-12 times what they make in a year, while other will suggest putting 10% of your income into long-term savings.