Avoiding Bad Luck With Your Finances
Today is Friday the 13th, an allegedly unlucky day. So I find myself compelled to write about luck once again.
This time however I’ll be more specific, focusing on finances.
Many of us feel unlucky about money. Who hasn’t suffered from a hidden cost rearing its ugly head, destroying any chance of savings for the month? How many times did we start a week with so much money, only to have empty pockets come weekend? And doesn’t sometimes feel were not winning the game, since we don’t get to save anything?
The money problem is particularly important for freelancers and contract workers, who don’t enjoy the stability of the corporate world and may find themselves desperate for money when business is slow. But it’s possible to be lucky financially. All it takes is exercising greater control over our finances.
This requires keeping track of every transaction. And more importantly, maintaining a record of which client owes you how much. The first step makes your spending patterns clear, while the second helps catch deadbeats. It’s also crucial to anticipate the costs for the month. How much do you need to maintain your equipment? For self-promotion? For utilities? This gives you a better picture of how much you can spend, and when.
Having a hard time managing your finances? Consider hiring an accountant. Aside from reminding how much you owe the tax man, they’re also experts at making sense of your hard-to-understand cash flow.
In short, getting lucky with money is easy. All it involves is awareness over personal finances, a willingness to adapt to the reality of the situation, and concrete financial plans to guide future decisions.
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POSTED IN: On Freelancing, Ramblings of a Freelancer, Useful Info
1 opinion for Avoiding Bad Luck With Your Finances
Do You Have a Rest and Relaxation Budget?
Oct 9, 2008 at 7:46 am
[…] do you do with it? A few months ago, it would’ve gone straight to the bank. As I become more aware of the value of money, I’ve started becoming more miserly with my funds, diverting as much as I can for some […]
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