Money, money, money. It truly makes the world go round! At the root of it, it’s why we’re all in business. Even if we’re in business for freedom and flexibility, money is the thing that makes that possible. Despite this, we’ve seen (and made *cough*) a lot of money mistakes over the years, which can leave you short changed and overworked, confused about whether you can afford to go to that conference or not, or barely breaking even when selling your cupcakes.
That’s why, in today’s episode of JFDI, we’re sharing the eight biggest money mistakes we’ve seen freelancers make and how you can avoid making them too. We know that one of them is really obvious (and could be a whole episode in itself), so we’re skimming over that briefly. Of the remaining seven, we guarantee you’re making at least one, so this episode should help you to reassess, change your ways and move forward with a better money mindset, ready to get yourself down to the Apple shop and spend your new found cash (yes, it’s Laura Davis’ favourite hobby).
We want to know – how many of these mistakes have you been making and are you ready to change your ways?!
In this episode, we’re chatting about:
- Why we’re skipping over the obvious money mistake that’s definitely the one you’re expecting to hear!
- Making best friends with preparation and planning
- What sort of bank account you need and how much money should be in there
- Lots of pricing queries, especially what to do when you need to increase it or a client asks you to do extra work
Jump straight to it…
[00:43] Ruling out the obvious!
[01:10] Assessing the risk of changing or not changing your pricing
[06:15] Not forecasting and forward planning
[10:50] Failing to track expenses in advance (or at all!)
[15:09] “Bank zero”
[21:19] Not pricing for profit
[24:59] Using a personal (or worse – joint) account
[27:25] Not giving context for extra work prices
[30:02] Recap!
