From the course: Freelancing Tips

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How to create a budget

How to create a budget

From the course: Freelancing Tips

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How to create a budget

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- Don't panic, but I want to talk about your personal finances for a minute. It's common for freelancers to feel stressed or anxious when it comes to even thinking about money. But it's absolutely critical to get over that fear. Do you know how much money you need every month to cover your expenses? Not just things like rent and utilities, but every expense you'll incur this month? Every freelancer should have at least a simple detailed budget in place. I've created an exercise file to help you do just that. And just so you know, I'm treating this like your business is a sole proprietor or single member LLC. This is pretty common for freelancers where you file only one tax return and that includes both personal and business expenses. So create a spreadsheet like this with columns for Expense Name, Monthly Total, Yearly Total, when it's billed, and whether it's a personal or business expense, or split because it's both. This will help you understand where your money is going right now.…

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