Practicable ways of saving money for freelancers

Augusta

VIP Contributor
As a freelancer, the truth is that you might not be making money daily, so a reasonable person will be high on savings while low on spending. To achieve this, you should practice the following:

  • Cut down on your groceries purchases
  • Cut down or totally cancel your membership and subscriptions, then go ahead to turn off auto-renew for new purchases
  • Buy things that are of quality and leave the brand name, which might just be about the hype
  • Don’t spend unexpected income, save them automatically
  • Check your insurance rate and be sure there are no hidden charges
  • Try to ask for discounts or bonuses when you buy from your favorite stores, there’s no harm in trying
So how else can a freelancer save money?
 

Samuel72

Verified member
According to my own point of view there are many ways in which you can save money for your freelance all you have to do is for you to work on your expenses and also reduce your demands for the day if you really want to save money I will advise you to keep a schedule on how you are going to be spending your money at that particular period of time which you are saving or you can fix a budget in which will be spending for the week with this advise you will be able to save much money
 

OlaAdams

Active member
Well stated bro!
Am glad to have someone talk about freelancer and saving. Some what you have stated am very much convinced that you must be a freelancer Your.
Am I right?
If yes, what digital skills are you into?
 

Planet408

Active member
Your details are helpful. Many of us struggle so much to save money and still finds it uneasy because of some things or needs that surrounds us. Many freelancers are in this scenario. The money earned from freelancing is not earned everyday. Therefore one should always learn to do his or her mathematics properly before making any purchase on the street.
 

Ozigba Richard Lamai

Active member
The practical way to save money for free licences, is save as you earn as you and you save my money and with this morning you can be able to start a freelance business.freelance business is a business on your own business that you can run and manage on your own without any assistance from anyone or any financial support from anyone.
 

Alexandoy

VIP Contributor
My earning in my freelancing online work is always my savings because I have a pension that I use for my personal expenses while my wife handles the household expenses. However, my savings is my recourse for non-regular expenses like gifts and donations or unforeseen expenses like a sudden gathering. It is good that I can somehow have savings of my own from my freelancing work.
 

btaliat

VIP Contributor
Nice tips over there. And people must learn how to save before eating. Some people don't really save much for unforseen circumstances. No one ever dreamt of Covid 19 neither has someone thought that we would be lockdown for almost a year. And also, we should not try to live to impress. We should not try to live beyond our earning.
 

sincerem

VIP Contributor
As freelancers we ought to cut down our spending spree, spending for utility bills, maintenance, and recreation and refreshments etc. We should spend when necessary and not overspending money on things that doesn't matter much. We need to cultivate saving culture, and save enough to grow in life and own a business that is profitable in the future through our freelancing work online.
 

Chibson

VIP Contributor
These tips are not only practicable to freelancers alone but for everyone who wants to save money. You need to cut down your expenses and also reduce the kind of money you spend on your lifestyle. You also need to be disciplined because it is the ultimate for anyone who has to succeed in life.
 

Carpon

Valued Contributor
Yes, you have made solid points on how to save as a freelancer. And of course before one can even start to save he or she must know the need for it and the benefits attached or the benefits once can receive from it.
Your savings has so many importance which I won't mention here but I'll just like to add in the quick tips you have stated already in the main thread

In order to save you must be disciplined. Make a savings resolution and make it almost like a compulsory affair for you to save a particular percentage of what you earn. At most times people save like 10% of their earnings but you may decide to make it more. But personally I think a good savings must not be less than a 1 out of 10 the total amount you make in a given period of time
If you make this your habit it becomes your way of life and with time you would discover that taking out of your earning for savings purposes becomes so easy and you do it without having to think twice
At so many times you may have to
make a scale of preference of the things you need and give priority to those at the top and forgo others in order to save as much as possible!
Thank you.
 
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