8 Financial Advice For Freelancers

There’s so much to think about in financial advice for freelancers: Budgeting, debt, credit, savings, spending, and it never seems to stop.

It’s time for you, to think about the future as well. This industry is known for being tech and gadget aware, and now is the time to be wise in your finances.

1. Staying silent about your finances

If you make a lot of money, be quiet. It is one of the best yet forgotten financial advice for freelancers.

Don’t tell your friends and family because they won’t be impressed.

They will more likely dislike you or judge you for not lending them money and being overly generous during holiday time.

2. Save to invest, not save to spend

Don’t be too conservative if you are young. Inflation is not your friend if you look to save for retirement.

Saving and investing may seem like a challenge right now, but putting away just a few dollars a week can have a big impact.

3. Explore Crypto

If you ever think about it in the past, invest in crypto. Bitcoin is highly volatile but very lucrative. So is Etherium. But do a stop limit order on your account so if it turns sour, you are automatically out.

4. Invest in assets, not in liabilities

Use your money to buy income-producing assets, not consumer items like fancy cars and cool mansions.

The market for mansions is going to downfall once the boomers start retiring. Cars depreciate unless you own a proven collectible like a 1969 Dodge Charger Hemi.

Another piece of financial advice for freelancers is to avoid buying cool mansions and fancy cars just to impress others.

5. Credit cards will make you broke

Two words: stay away! If you can’t pay it off completely when you receive the bill, you are spending more than wise.

Don’t be tempted, or you will end up in a world of hurt.

6. Budgeting is your best friend

It’s simple: making a budget every month and sticking to it means you are going to win with money.

A bit of financial advice for freelancers is creating and sticking to budget management.

7. It’s okay to say no

If a friend asks you to go on a trip or out to dinner, and you don’t have the money, there’s nothing wrong with saying no. Your friends will understand. And if they don’t, you should find new friends.

8. Health is wealth

Your health is your greatest asset. If you feel like you are rich, but in reality, you are poor.

Put your health above all else. It is like putting an oxygen mask on yourself when the airplane is going down.

Do that first so you can help others. Eat healthy, exercise, and avoid the midday sun. Don’t smoke. Drink moderately.


As a freelancer, your personal finance is 80% behavior and only 20% head knowledge. It’s all about behavior change.

We all know if we’re being irresponsible with money. But, many times, we go ahead and make bad choices anyway. That’s got to change!

Click this link for more freelancing tricks.

Written by: Japhet Torres, creator of Kadlight.com

People Also Ask

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