The very idea of living in your house without ever commuting to work or putting on formal clothes in the morning makes people drool anywhere. No more commuting, no more people and no more griping for that matter. There are certain drawbacks to freelancing, too. The clients can be slow to pay and require gazillion revisions before they finalize something. However, the merits far outweigh the demerits. You just need 3 things:
- Determination to make it big
- Knowledge and skills
- Timely delivery
The Rigors of the Job
Regardless of whether you are a writer, developer or a web designer, freelancing always requires commitment and a lot of effort. More so, freelancers also undergo different challenges. This can include staying organized and meeting tight deadlines, find a project and keeping the clients. As a freelancer, you need to be up to date and to help you, there are different tools that makes the work easier and quite efficient.
This might be stating the obvious but living your life as a freelancer is quite different than holding a steady job. You set your own hours and you manage the aspect of income and growing the business, too. If you have all those things in mind, it is better to prepare yourself for the incoming challenges.
How to Invest Your Earnings
The freelancers often have a tunnel vision. Some may stick to their field for years to come while there are others who may look to form digital agencies and marketing firms. This depends on the person. But very few people actually think about setting up revenue streams which allows them to earn on a monthly basis.
This is a great idea if you cannot avoid a spending spree as soon as the funds reach your account. Since you are a one-man show, it makes sense to have emergency funds lying around when you need them. This brings us to the subject of investment platforms that grows your funds without your active involvement.
Enter Iban Wallet
It is a disruptive investment platform that puts your amount in any of its accounts and pays you a fixed interest on a daily basis. Whether you are an established freelancer in your niche or just get by on your freelance earnings, this portal allows you to keep an emergency fund just in case. It has a projected fixed interest rate, from 2.5% to 6%, depending on the account you choose.
You can request to withdraw your funds anytime since these funds are liquid. As a result, you can set aside some amount each month and see how your money grows in the coming years. It does not require your daily involvement and this is why it is ideal for a freelancer or any who has spare cash to invest. For the basic account, you can start by investing just €1.
As a freelancer, there are pros and cons for sure, but for many people out there, they would not have it any other way. Investment is the last piece of puzzle that puts them in a relatively safer position and iban Wallet will help you in that regard.