If you’re a freelancer and earning an irregular income, chances are that you haven’t found too much in the way of financial planning assistance. That’s because most of the advice is geared towards those with a regular paycheck.
If you’re a freelancer, you’ll know that the biggest challenge to overcome is the feast when you receive a cheque and the famine while you’re waiting for the next one. Often, the duration of the famine is uncertain because your clients aren’t as punctual with their payments as they expect you to be with your deliverables.
That doesn’t mean that life as a freelancer is untenable, said Harshvardhan Roongta, co-founder of Roongta Securities.
On this edition of Big Decisions, Roongta spells out how to navigate past the problem of irregular income, while stressing the importance of saving for later years. An SIP (systematic investment plan) is certainly not the best approach, he said.
Source: Big Decisions: How To Navigate The Feast And Famine As A Freelancer
