SEOClerks

Freelancers do you save some money?



Write the reason you're deleting this FAQ

Freelancers do you save some money?

I am just wondering how everyone else budgets and whether any of the freelancers here save some money for the possibility that some months might get rough financially?

Do you have a formula that you use for your business finances?

For example perhaps you put 20% profit back into your business, 20% into savings for a rainy day (or month) of freelancing and then pay yourself 60% of the profit?

Comments

Please login or sign up to leave a comment

Join
EliteWriter
I save up as much as I can. I like to save especially to finance any projects I want to do at home, and hopefully to go on holiday next year. General expenses that arise from day to day such as bills and shopping are obvious, and I try to save only for extra expenses or large purchases. I do not have any formula, but as a general rule of thumb I will try to save between 25% to 40% of what I earn, obviously provided that I make enough money in a given month. If I do not earn that much I will have to save less.



Are you sure you want to delete this post?

Everett
I save most of it, if there is anything left to save. Also, I make sure to save 20% of all earnings for taxes no matter what. It's extremely important if you live in an area where you have to pay taxes on income.. which is probably mostly 60% of the countries. You don't want to get the IRS (USA Tax Agency) on you.

Here's what I save up for generally:
  • Rent (no rent means no place to live, have to save up for that monthly, will not disclose amount)
  • Groceries (spend probably $50 a week, sometimes less sometimes more)
  • Bills (Internet/Phone bundle $120 a month)
  • Weekend money (going out with friends, $20 to $75)
  • Misc stuffs ($75 to $200 a month,things like detergents, cleaning supplies, toothpaste etc)
  • Car Savings
  • Real Estate Savings

Seems like quite a bit from a freelance job eh?



Are you sure you want to delete this post?

Lynne
Guess who has not kids huh? LOL if you have money you are most likely childless...my money just gets sucked up with expenses for my kids. I am trying to save but there is always something I need to buy for them or pay.



Are you sure you want to delete this post?

idealmike
Hey if you're spending more than you're making per month, day, year, then you're running at a loss! After it's all said and done the month comes around like clockwork and each month usually has outgoings of some kind. When all those outgoings combined add up to more than what you earned that month you're eventually going to go bankrupt! Unlike having a regular full time job that you can rely on to bring you in a fixed amount per month. But also mean less freedom / time with family etc as well.

With freelancing you can't be so much like oh lets splurge on this and that this month and work like a dog in a job I don't like doing for a boss that doesn't appreciate me! Not unless you've already become super successful and have earned, saved up and are earning a solid, healthy and respectable multiple sourced revenue streams. Streams that flow into rivers, rivers that flow into oceans, water that flows underground.

You just have to be less like that or may have to be when you first start off unless you have that coming in already. So you have to save like you ain't got any! Life as a successful freelancer. What does that mean? At what stage of being one can you call yourself successful?

What does successful mean you you? $100 a month? When you've earned and saved almost $1000? When you've earned a million? Where and when do you tick the box that says you're a successful freelancer? When you've retired and living in a mansion with a billion dollars in the bank? I'm thinking yes to that actually lol

So yeah for me try and earn more per month than I have to spend.
Try not to randomly splurge and do any impulse shopping! Freelancers do you save some money?
Try and save up and meet higher targets to meet my dreams and do and achieve the things on my bucket list! lol



Are you sure you want to delete this post?

Everett
Hey if you're spending more than you're making per month, day, year, then you're running at a loss! After it's all said and done the month comes around like clockwork and each month usually has outgoings of some kind. When all those outgoings combined add up to more than what you earned that month you're eventually going to go bankrupt!

Yes, very true unfortunately, in every area of business. I try to make sure whatever I am spending that I will get it back. For instance, if I pay $50 in groceries when I get home I will make that money back. I always try to either break even or get a slight profit. I hate seeing my bank account balance below a certain number of funds, which i won't disclose.. lol



Are you sure you want to delete this post?

Lynne
Oh yes Mike, avoiding impulse shopping and having a random splurge is a biggie for me. When I have some extra money on me I can't help but think what nice things I should go and buy LOL.

I am trying my best to save some money each month and invest some money back into my business. I am trying for at least saving 20% and then putting 20% back into my business.



Are you sure you want to delete this post?

Cristian
I've made a lot of thing with money saved from freelance jobs. I even paid for my own wedding! So yeah, I personally definitely save.

Now that I have a good paying day job, my wife also has a job and I also have a constant stream of freelance earnings coming in every month, it would be only logical to save most of it. Sure some months I indulge, but almost everything from freelance goes into a saving account.

We have a lot of "projects" to take care of in the future and we'll need cash to do it.



Are you sure you want to delete this post?

overcast
I am saving around 40% of the money from the earned in the freelancing. I think some of the time it can be harder to save that much there. I have seen that freelancers who are saving a lot of money. And they are on much better terms for financial side. I have found that saving money here and there does add up. And if one can focus on that amount for long enough it'd be better for many.



Are you sure you want to delete this post?

PinkTurtle
I try to! It's really hard to save money in a country with a high inflation rate such as Venezuela but I try to do it every month. At least 5% of my incomes. of course in this cases is better to invest than to keep the money in a bank account because it will eventually devaluate. So I don't know how wise is saving in my country...



Are you sure you want to delete this post?

Barida
It is not always easy to save funds working as a freelancer for you always have that hope that you're going to make more. So, it takes someone that is really determined about saving money to go through that line of saving.



Are you sure you want to delete this post?

augusta
I try to save as much as I can no matter how small it is , nothing is too small to save just make up your mind to save which is what has really helped me.I have forgone alot of things especially if I don't really need them to save some money, we can't be so sure of the tomorrow or the rainy day, so we should always save.



Are you sure you want to delete this post?

vinaya
I am a freelancer, I earn a living from freelancing, however, I am far from making a saving. I use my earnings to pay my bills as well as manage my businesses. I need to pay for domain renewals, hosting renewals as well as for content creators for my websites. sadly, I am not earning enough to make a regular saving. As soon as have $100 on my paypal account, I withdraw and pay my bills.



Are you sure you want to delete this post?

Corzhens
This is not to brag, just being honest. All my freelancing income goes to my savings account. I am fortunate to have a full time job in a bank that pays well so my freelancing earnings are not exactly needec for the household expenses. By the way, I am earning $20 to $40 in a month of work.



Are you sure you want to delete this post?

vinaya
If you freelance as a side job or hobby and have a regular paying job, you can have a luxury of saving your freelance income. However, if you are a full-time freelancer and you earn a living through freelancing, saving might be difficult. I am a freelancer based in Nepal. I need around $500 every month to manage my expenses, anything I earn more will be my saving, however, this does not happen much.



Are you sure you want to delete this post?

Kakashi2020
As a part time freelancer, I don't really earn a lot. Whatever I earn, I would spend it on snacks and allowances of my kids. If I earn a good amount then I would use it to buy things that my kids need.



Are you sure you want to delete this post?

sanfora
that depends on how much you earn and where you live



Are you sure you want to delete this post?

Lynne
Yes I'm sure it would depend on how much you earn, some freelancers may only just make enough to survive on and not make enough to put money back into their business or save a little bit for in case of emergencies.

What do you do Sanfora?



Are you sure you want to delete this post?

Order Now
Process Time: 0.47510313987732

Possible Duplicate queries found!
MatchCountSQLScript
SELECT * FROM `questions` as q JOIN categories_faq as c ON q.catid=c.CATID WHERE (q.status=1 OR (q.status=2 AND userid='') ) AND q.quesid='19611'1SELECT q.*, c.seo as CatSEO, c.name as CatName, c.parentid FROM `questions` as q JOIN categories_faq as c ON q.catid=c.CATID WHERE (q.status=1 OR (q.status=2 AND userid='') ) AND q.quesid='19611'

/opt/clerks-staging/docroot/viewfaq.php 496 () ()

SELECT * FROM seoclerks.members WHERE USERID='306632'1SELECT * FROM seoclerks.members WHERE USERID='306632'

/opt/clerks-staging/docroot/include/functions/includes/member.php 445 GetAllUserDetails() ()

SELECT * FROM seoclerks.members WHERE USERID=3066321SELECT googleplus_profile FROM seoclerks.members WHERE USERID=306632

/opt/clerks-staging/docroot/include/functions/main.php 16914 GetGooglePlusProfileFromId() ()

SELECT * FROM ratings_faq as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=19611 LIMIT 51SELECT m.username FROM ratings_faq as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=19611 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM answers a, seoclerks.members b WHERE a.quesid='19611' AND a.userid=b.USERID and b.status='1' AND a.status=1 ORDER BY a.combined_votes DESC, a.date_answered asc1SELECT a.answer, a.USERID, a.upvotes, a.downvotes, a.ansid, a.parentid, a.combined_votes, a.date_answered, b.username, b.userlevel, b.profilepicture FROM answers a, seoclerks.members b WHERE a.quesid='19611' AND a.userid=b.USERID and b.status='1' AND a.status=1 ORDER BY a.combined_votes DESC, a.date_answered asc

/opt/clerks-staging/docroot/viewfaq.php 1245 () ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107328 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107328 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107362 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107362 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=108059 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=108059 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107319 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107319 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107391 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107391 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107340 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107340 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107887 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107887 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=120706 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=120706 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=130634 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=130634 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=136016 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=136016 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=144859 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=144859 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=143714 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=143714 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=144857 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=144857 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=149859 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=149859 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=169570 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=169570 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107304 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107304 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

SELECT * FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107306 LIMIT 51SELECT m.username FROM ratings_faqanswers as r, seoclerks.members as m WHERE r.USERID=m.USERID AND r.upvote=1 AND r.PID=107306 LIMIT 5

/opt/clerks-staging/docroot/include/functions/main.php 17159 GetVoters() ()

UPDATE questions SET total_views = total_views + 1 WHERE quesid='19611'1UPDATE questions SET total_views = total_views + 1 WHERE quesid='19611'

/opt/clerks-staging/docroot/include/functions/main.php 1765 update_Faqviewcount() ()

SELECT * FROM questions WHERE quesid!='19611' AND status='1' AND (question like '%Freelancers save money? %' OR question like '%Freelancers%' OR question like '%save%' OR question like '%money?%') -- ORDER BY RAND() LIMIT 151SELECT quesid, question, seo, userid FROM questions WHERE quesid!='19611' AND status='1' AND (question like '%Freelancers save money? %' OR question like '%Freelancers%' OR question like '%save%' OR question like '%money?%') -- ORDER BY RAND() LIMIT 15

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() ()

SELECT * FROM seoclerks.members WHERE USERID='12544' limit 11SELECT profilepicture FROM seoclerks.members WHERE USERID='12544' limit 1

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_member_profilepicture()

SELECT * FROM seoclerks.members WHERE USERID='1856' limit 11SELECT profilepicture FROM seoclerks.members WHERE USERID='1856' limit 1

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_member_profilepicture()

SELECT * FROM seoclerks.members WHERE USERID='3441' limit 11SELECT profilepicture FROM seoclerks.members WHERE USERID='3441' limit 1

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_member_profilepicture()

SELECT * FROM seoclerks.members WHERE USERID='4984' limit 11SELECT profilepicture FROM seoclerks.members WHERE USERID='4984' limit 1

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_member_profilepicture()

SELECT * FROM members_ledger WHERE script='/opt/clerks-staging/docroot/viewfaq.php' AND querystring LIKE '%id=19611%' AND added>=UNIX_TIMESTAMP(NOW())-1200 GROUP BY USERID 1SELECT USERID, username FROM members_ledger WHERE script='/opt/clerks-staging/docroot/viewfaq.php' AND querystring LIKE '%id=19611%' AND added>=UNIX_TIMESTAMP(NOW())-1200 GROUP BY USERID

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() ()

SELECT * FROM categories1SELECT * FROM categories

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() parseRedundantQueriesCache()

select * from categories_software order by name asc1select * from categories_software order by name asc

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_GetSoftwareCategories()

select * from categories_wanttobuy order by name asc1select * from categories_wanttobuy order by name asc

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_wantcategories()

select * from categories_wanttotrade order by name asc1select * from categories_wanttotrade order by name asc

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_get_tradecategories()

SELECT * FROM seoclerks.members WHERE USERID='212316.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='212316.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='2951.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='2951.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='306632.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='306632.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='272.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='272.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='134.png'1SELECT profilepicture FROM seoclerks.members WHERE USERID='134.png'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='589438.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='589438.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='605129.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='605129.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='617077.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='617077.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='585810.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='585810.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='600657.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='600657.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

SELECT * FROM seoclerks.members WHERE USERID='60292.jpg'1SELECT profilepicture FROM seoclerks.members WHERE USERID='60292.jpg'

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() getUserProfileImage()

select * from categories_faq order by name asc1select * from categories_faq order by name asc

/opt/clerks-staging/docroot/libraries/adodb5/adodb.inc.php 1899 CacheExecute() insert_GetFaqCategories()

Invalid SQL

count(*)sql1error_msg

Expensive SQL

Tuning the following SQL could reduce the server load substantially
LoadCountSQLMaxMin

Suspicious SQL

The following SQL have high average execution times
Avg TimeCountSQLMaxMin