New Year Budget Breakthrough
Cincinnati, OH | Posted: 12/13/2015 | Author: April Koenig
Freelancers are in a unique position financially. While those that work regular full-time jobs have a pretty set salary, freelance artists have more control in how much they make. But sometimes income fluctuations due to unreliable workload can play havoc on your bank account, and lead to unsure fiscal footing. A good way to relieve financial stress is some sound money moves. So let this new year bring forth a resolution to budget better with some tips from your pals at COC!
Make A List and check it twice! It might seem unnecessary, but you need to write down every single monthly expense, personal or otherwise. To truly resolve to budget better you need an honest accounting of your financial outlays. By the same token, list all of your monthly income as accurately as possible. We know as a freelancer it won’t be the same every month, but looking back through the year should give a pretty complete picture.
Shrinkage is the name of the game when it comes to bills. Take inventory of all monthly bills and find ways to shave. Be inventive with your water bills by cutting down on showers and only running the dishwasher when there’s a full load. Compare cell phone and cable plans to make sure you’re getting the best deal. If not, switch. Whether it’s turning out lights when you leave the room or combining trips to save gas, every little bit helps.
Learn To Say No to personal expenses that aren’t totally necessary, at least until you know how your budget plan will react to those luxuries. It might not sound fun, but go for just the bare necessities for a while, then see how much you saved. Determine how much you really missed the extra purchases and expense, and whether they were truly worth it in the first place.
Extra Income is never a bad thing, especially when trying to boost the old budget. Any additional work you can take on will pay dividends for your pocketbook, even if it’s just extra side work or a one-time project. Remember, this is the time to start changing your spending habits for the better. So combine attention to detail and extra work where needed to make 2016 the year of your budget breakthrough!