Skip to Main Content

Start Of Main Content

The financial differences of freelancing

Take a quick look at what defines and differentiates work life for freelancers.

03-04-2019

Video Transcript

Working for you

When all the decision-making and other work responsibilities land on you, approaching your job looks very different. Self-employment is freeing and exciting, but it also requires diligence and planning to weather the ups and downs of contract work.

And since it's just you, you might have a little more work to do on the front end — but early planning should pay off in the long run. Some of that planning should include:

  • Setting goals. You get to decide what your goals will be.
  • Working out a budget. Where is the money coming from and going to?
  • Figuring out benefits. Don't forget benefits — your health care as well as retirement needs should be included.

The more you understand, the better you're able to budget and protect yourself against challenges or slumps.

Be sure to watch the video, download the Financial Foundation for Freelancers worksheet and keep going through this course.

Your chapter 1 checklist:

Next step

Great Ways to Set Financial Goals
Listen closely as these experts talk about the benefits of creating financial goals.

 

Neither State Farm® nor its agents provide tax or legal advice.



Also Important

Series on Reaching Your Financial Goals

Series on Reaching Your Financial Goals

Have you been putting off budgeting for far too long? Financial experts at State Farm serve up some engaging insights on reaching financial goals.

Great Ways to Set Financial Goals

Great Ways to Set Financial Goals

As a business owner, your financial goals should be split into two worlds: one set for your business and another for your personal life.

Related Articles

Budget and Start Saving Money Today

Budget and Start Saving Money Today

If you’ve been putting budgeting off, you’ve come to the right place. In Budgeting 101, we show you how to kickstart your motivation and budget like a boss.

How to Start a Small Business

How to Start a Small Business

Read these tips for starting a small business.

Figure Out Your Investing Risk Tolerance

Figure Out Your Investing Risk Tolerance

Learn how your current stage of life and appetite for risk play an important role in determining the optimal investment strategy.