How to Build an Emergency Fund as a Freelancer
Becoming a freelancer could be the first step to owning your own business for many people. It’s a chance to get a taste of what it feels like to be self-employed. Plus, you can start building a portfolio in your niche so that you can potentially launch a business as a service provider later too. Of course, becoming a freelancer isn’t without its challenges. If you’re going into freelance, you’re not going to have the reassurance of a regular 9-to-5 job with a consistent income to rely on. That means that you won’t always have the same amount of cash coming into your pocket each month. To protect yourself from the dry spells, you’re going to need an emergency fund. So, how do you make one? How to Create an Emergency Fund Anyone can benefit from having an emergency fund – not just freelancers. It’s essentially an extra portion of cash that you keep aside in case of emergency. This money doesn’t go towards your savings goals, or your everyday expenses. Instead, it sits there in your bank account until you need it – like a safety net for when something goes wrong. In general, most people should have around 3 months of wages as an emergency fund to protect them from things like…
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