Schools Training

Tips for Self-Employment

10 DEC 2013

The latest blog post from the AOLC blog examines the ways that full-time workers can become self-employed. Though the article doesn’t claim to have all of the answers, it does give advice on how to go from being a full-time employee to working for yourself. According to the blog post, one of the biggest reasons that individuals hesitate becoming self-employed is due to finances. The idea of going from a steady paycheck to haphazard payments from clients can be challenging to say the least.

Finances are the biggest reason why anyone who is thinking about freelancing remains unsure. Who can blame you? To go from full benefits to haphazard payments can be tough. However, if you keep finances in mind and plan in advance, then working for yourself can be the dream that you’ve always thought that it would be. First off, always put aside money for taxes. You should be aiming to put aside 25% per business year. It’s always better to put aside too much rather than too little. And if you have money left over at the end of the year once taxes have been paid, then you should put the rest into a savings account or retirement fund. However if you are finding all of this challenging, then you might benefit from accounting training to help you out.

Lastly, the blog post recommends a few methods to use to alleviate some of the fears that may exist when a person decides to freelance, and shows that finances doesn’t always necessarily have to be a hindrance in the steps towards self-employment. Through proper money management, even taking classes if necessary, anyone can become financially savvy enough to work for themselves. Self-employment can be perfectly accessible for any full-time worker with the right amount of financial planning.