Lately, I’ve been noticing some financial hiccups in my contracting work. From underestimating project costs to forgetting about taxes, it’s been a bit of a rollercoaster.
Anyone else been through this? What are some strategies you’ve used to keep your finances on track?
Been there, done that. Financial stuff can be a real headache when you’re on your own. Here’s what’s worked for me:
Spreadsheets are your friend
Always pad your estimates
Set aside money for taxes every month
I learned the hard way about taxes. Now I automatically transfer a chunk to a separate account when I get paid. Saves me from panic when tax time rolls around.
For project costs, I started keeping detailed records of time spent on each task. Helps me price things better and catch where I’m losing money.
Oh, and don’t forget about those sneaky business expenses. I used to lose receipts all the time. Now I snap a pic right away and toss it in a folder. Makes life way easier come tax season.
Anyone else have tricks they’ve picked up along the way?