On Being Self-Employed: 3 Secrets to Stay Successful

Personal Tax AdviceSelf-employment has always been an attractive option for many. Most people see it as a way to gain freedom, both in terms of money and finances. Whilst this is not for everyone, it is certainly a great setup if you know how to work your way around it.

So, how exactly do you wade through the waters of self-employment? For the successfully self-employed, these three secrets are almost always in play:

Time Limitations

When you’re self-employed, you have a free rein on your own time. Of course, this could bite you from behind, which is why it’s still great to have limitations. Set your own schedule as to when you’re supposed to work and when you’re supposed to play. Sure, this schedule is something you could adjust, but having a routine would not hurt.

Money Management

Here comes the tricky part: money. Being self-employed means the lack of a regular, stable income you can count on. Yes, you can bank on regular projects to make the dough, but these would not always be available. If you do not work, you do not get paid – this is the life of the self-employed. On the bright side, working hard and working smart could help you make more money than your past day job.

But where many freelancers and self-employed people stumble is with their taxes. You might want to seek personal tax advice from the experts like ITP.co.nz to ensure you pay the right taxes year in, year out.

Learning Opportunities

Self-improvement is always helpful, even more so when you’re self-employed. With a more flexible schedule, you have no excuse to allocate time and resources to broaden your knowledge. Learn a new craft or improve your current skill set. When you stop learning, your skills fall off – and that’s something you would want to avoid.

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Be more successful as you venture into the world of self-employment. Manage your time, money, and learning opportunities wisely. For sure, you would find it better than the typical day job setup.