How to manage your finances as a freelancer


Date: 12 June 2024

A freelancer works from wherever he chooses with his flexible app from Revolut

The world of work is becoming more flexible. People are increasingly choosing to work for themselves, as freelancers or in the gig economy. Meanwhile, it’s estimated nearly one in six working adults now work in the gig economy at least once a week.

Legacy banks have been slow to develop services to meet the evolving needs of the modern flexible worker. Often, they need more sophisticated services than retail or consumer accounts but can't afford or don’t need the complexity of a full business account. Choosing the right account can make all the difference. Here are some top tips on what to look for.

1. Opt for flexibility

Prioritise accounts with favourable fees and avoid lock-in contracts to safeguard your finances and flexibility. As a freelancer, your needs can change rapidly, so staying agile is crucial. Watch out for hidden costs like maintenance fees and transaction charges that can eat into your earnings.

2. Get set up, and go

Time is money. Opt for an account that's hassle-free and ready to use within minutes. Make sure to check out the eligibility criteria and whether you need to be a registered entity.

3. Simplify your finances with everything in one place

Choose an account that makes managing finances simple, and can accept and process payments, saving you time and effort.

4. Supercharge your efficiency

Having a separate account for your business not only saves time but also provides a clearer overview of your financial health, helping you make better-informed decisions.

5. Enjoy the perks

Look out for extra perks that can enhance your operations and help you save money in the long run, like cashback on expenses and competitive currency exchange rates.

Copyright 2024. Featured post made possible by Revolut Pro.

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