Freelancer advice on finances.
We’ve all been there. You walk into an accountant’s or financial advisor’s office and you feel out of place. You catch your reflection on their shiny, overly polished conference table as they go on and on about ‘budgets’. You feel the anxiety mounting up as you try to explain, “But I work as a freelancer, so I don’t know exactly how much money I’m going to make every month.” “Oh ok, well just save the same amount every month anyway”, they reply. You think to yourself, “This happens every time. They. just. don’t. get. it.”
That’s why I was so excited when I met Sharon Eliot, a former fashion stylist turned financial advisor. She spent decades freelancing in the fashion industry so it felt comfortable to sit down with her and discuss the financial pain points that we endure as freelancers. She was kind enough to answer a few questions for us.
Why do you think it’s important for a freelancer to have a financial advisor?
As a former wardrobe stylist, I tell everyone that I wish I had someone that helped me 25 years ago. We are all busy doing what we do best and protecting and growing our financial future often gets overlooked. There are no pensions as a freelancer so there is no time to waste!
What would you say is the biggest financial mistake you see freelancers making?
Putting off saving money, even if it’s a small amount every week. The power of compounding interest is huge. So start saving NOW!
What is the best way a freelancer can secure their future financially?
Form a relationship with someone like myself, that can educate you on making wiser financial decisions and that understands your industry. Then you and your advisor can come up with a plan that contains, guarantees, and fits your needs.
Freelancers are often anxious about the cost associated to having a financial advisor. What would you say to them regarding that?
The agency I am affiliated with is non-fee based. The products you purchase have built-in compensation for the agent, whether you buy them on your own or with someone like me. I can work with any company out there, so it’s about what is best for you.
To set up an introductory meeting with Sharon, contact us at firstname.lastname@example.org.