Petrol, energy, rent, interest rates and food costs are rocketing while taxes are rising and this is not isolated to just the UK.
As the Chancellor highlighted when delivering a mini-budget, though they try to ease the pressure on households, the government can’t “fully protect people against the challenges that lie ahead.”
So, what does that mean for us as freelancers? Let’s just take a moment to reflect on the silver lining!
One big advantage of freelancing is that you don’t have a fixed wage. If you want/need to earn more, you have choices that most employed people don’t have. You can boost your income by putting in extra hours or pitching to titles that pay more. You can also use your journalistic skills in other ways e.g. copywriting for local businesses who are also feeling the pinch and realising they need to try new means of revenue generation and business promotion.
The other option when facing such high inflation is to cut costs. Are you on the best-priced broadband deal, for instance? Can you get your ink cartridges more cheaply? Do you really need to go into the co-share office space you have been using this month? Can you work from home and make your own cuppa rather than popping down to the cafe mid-morning as you usually do?
Make sure you claim back all the expenses you are entitled to – for instance, stationery, newspapers and stamps that you need for work. Don’t lose that receipt – take a photo of it and log the expense in a spreadsheet.
Working from home is often cheaper than going to the office anyway – no train fares, fewer office clothes and no whip rounds for birthdays, sponsored marathons etc.
Even if you do decide to take on a fixed income/salaried position for a period of time - you always have your freelance skills to call upon to supplement your income! These are just some of the ways you can make the most of the benefits of working for yourself in difficult economic times.
