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4 Budget-Friendly Investments for Freelance Workers to Consider


Deciding to become a full-time freelance worker can be both freeing and terrifying all at once. On the one hand, you now have complete control of your schedule, the clients you work with, and in many cases, where you choose to live since you’re no longer tied to a physical office location. 

Conversely, you’re now responsible for everything, like keeping projects on track, managing cash flow, getting contracts signed, saving for the future, and more. If you feel a bit overwhelmed by all the added responsibilities that come with this newfound freelancer freedom, here are four budget-friendly investments for you to consider.

1. Get Yourself Organized

Isn’t it nice having someone to organize all of your to-dos and projects in order to keep you on track? Just kidding—you’re a freelancer so that’s your job now. Thankfully, there are many apps to help people like you keep their daily grind, grinding. From creating tasks to subtasks, organizing project details and deadlines, and the ultimate satisfaction of marking those tasks and projects as completed, the right app, such as Todoist, will help you stay organized day in and day out. 

2. Ensure Contracts are Signed Efficiently

Landing new clients is awesome, but getting them to sign on the dotted line is even better. This allows both you and the client to have a clear-cut understanding of any contractual obligations, including the scope of the project and payment terms. But creating a contract, and then emailing it so the client can print, sign, and scan it before sending it back to you isn’t necessarily efficient. Even if they happen to have one of those handy scanning apps on their phone, the process is still clunky.

This is why freelancers should consider investing in a digital document-signing solution like jSign, which offers different individual plans, to save time and hassle. That also means not having to run more errands on a daily basis. As an added bonus, a digital document signing service will give you added peace of mind because you’ll have a verifiable audit trail should any questions about the validity of the contract ever arise.

3. Keep Your Cash Flow on Point

By completing various to-dos and signing contracts, another concern you’ll want to tackle as a freelancer is managing cash flow. Money in, money out. It seems simple, but without the right type of software, this process can be a nightmare. To keep your cash flow on point, look for software like Wave that allows you to integrate banking information, create invoices, manage bookkeeping, and oversee payroll all in one place. Investing in an all-in-one software solution that can manage multiple tasks not only will save you time but a lot of confusion, too.

4. Save for the Future

Investing in your well-being now is a good thing, but don’t forget about the future, too. Unless you plan to work for the rest of your life, it’s a good idea to consider saving for the future. Did you know if you invest in a Solo 401(k), you can invest as both an individual and a business? While the ins and outs of this type of investing are something that should definitely be discussed with a qualified financial expert, there are likely tax savings for both you as the individual and you as the business with this type of investment.

Get On with Your Freelance Self

Becoming a full-time freelancer comes with a lot of benefits, but some added responsibilities, too. Thankfully, everything you need to keep yourself and your business on track already exist. From staying organized and getting contracts signed to managing cash flow and investing in your future, making a few budget-friendly investments will make the fruits of your labor that much sweeter.

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