Shreya Shetty
Shreya Shetty

Freelance Money Matters

LA-based freelance concept artist and illustrator, Shreya Shetty, shares her insights about handling and organising finances as a freelancer, so that it no longer feels a daunting task.

Working as a freelancer means you have a wear a lot of hats. Being smart about your finances will allow you to continue to operate smoothly. Here are some ways to help you through the ups and downs of freelance life.

KNOW YOUR WORTH

Charging a below par rate is going to hurt you, over time. Talk to your peers and know the general rates. Sources like ArtPact, Glassdoor, etc. help find out the hourly and per piece rates for illustrations and such.

BUDGET FOR TAXES

Freelancers pay at a higher tax rate. Consider this when you quote your prices, and budget for this when you have expenses. Virtually, all work related expenses can be written-off as business expenses. Find out all possible allowed business expenses that you can claim as a freelancer. Be sure to keep your personal and professional spending separate.

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