If you’re new to freelancing, your first year can bring a huge learning curve. (Ask me, a long-time freelance writer, how I know.) You go from a steady, predictable paycheck every two weeks to getting paid in dribs, drabs and lump sums. Then come the inevitable dry spells.
Not knowing when the next paycheck will arrive, while also setting money aside for taxes, requires thinking about your budget in a whole new way.
Throw in today’s unpredictable economy, where people are anxious about layoffs or reduced hours and increasingly rely on side hustles and gig work to get by, and managing inconsistent income becomes one of the most important personal finance skills you can develop.
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