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Keeping Track of Finances as a Freelancer

This is a collaborative post

I’ve now been freelancing for 9 months and to say it’s been a learning curve is an understatement. I have absolutely no regrets, but there are things I’ve learnt along the way that I hadn’t even thought of before. I suppose I hadn’t anticipated quite how much organisation on the financial front would go into it, so I thought I’d share a few of my tips I’ve picked up along the way, in the hope they’ll be useful to someone else!

Keep Track of Every Cost

Early on, a friend told me that I’d need to create a simple spreadsheet for my blogging costs and payments. It was only as I embarked on freelancing that I realised how crucial this is. There will be costs along the way – train tickets, taxis, stationery along with fee payments and product payments too. In the beginning, it was easy to keep track but it soon became quite overwhelming and the spreadsheet has saved me from forgetting little things. I also schedule every post into my blogging diary, so nothing slips through the net.

Building Those PR Relationships

This has been the biggest lesson for me, and I suppose it’s not really a financial one. The key to pushing forward with a professional blogging career has got to be forging those key relationships with PR’s. This is the part of the last 9 months I have enjoyed the most and being able to get to know PR’s, instead of just liaising with them on one collaboration alone has been brilliant. It’s still early days but I’m hoping that these relationships will put me in good stead for future work too.

A Helping Hand With Cashflow

The negative side to blogging professionally has got to be cashflow and I realised this early on. Everyone deals with it their own way but for me, the best solution was to find an additional revenue stream so I am not relying on working on blogging campaigns each month. I’ve also taken out a short term loan to cover any cashflow hiccups that occur along the way. It is inevitable, particularly with 30 day payment terms that there will be times when the cashflow is just not flowing and this has been such a big help to me. Companies like Northcash can offer the assistance needed for you to get back on track.

The Peaks and Troughs of Freelancing

In terms of my sanity and mental health, this has been a big learning curve. There will always be busy times with freelancing along with other times when work has really dried up. I find it stressful to deal with and have had to let go of all that worry that it’ll be okay. Having a secondary revenue stream has helped enormously, so I know each money I have a pot of money that is guaranteed. It also makes it so much sweeter when campaigns do come in and I seem to enjoy blogging more.

I hope this post was useful to some, who are perhaps embarking on blogging professionally so you can see how I deal with those peaks and troughs of the freelancing world. I’d love to know if you have any tips too, so let me know in the comments below.


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