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Freelancers and self-employed individuals lack automatic workplace pension contributions but can still rely on the State Pension by making qualifying National Insurance contributions for at least 10 years. It's important to check your State Pension status via the Personal Tax Account to understand your future pension entitlements. To enhance retirement savings, setting up a private pension is advisable, providing a tax-efficient savings method and the structure for managing future finances.
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Buying a home as a freelancer can be challenging due to fluctuating incomes and stricter mortgage lender requirements. However, it's possible with careful planning and the right approach. Here are condensed strategies to enhance your chances:
- Online mortgage calculators designed for the self-employed can provide a preliminary assessment of how much you might borrow based on your income and savings. Use these tools as a starting point to understand your financial standing and set realistic goals.
- A mortgage advisor experienced in working with freelancers can navigate you through the application process, assessing the risk level of your application and offering tailored advice to boost your approval chances.
- An accountant can offer invaluable insights into your finances, helping you prepare for a mortgage application by ensuring your tax payments are up to date and by forecasting your income, thereby improving your affordability profile.
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At the top of your resume sample, you may choose to include a summary. This section is particularly useful for freelancers because it allows you to speak directly to the employer and explain your situation. A hiring manager won’t be left wondering why your resume doesn’t look like others once they see that most of your career has been freelance.
Check out the summary from our freelancer resume sample for an idea of how to structure your own:
ADAPTABLE SUMMARY EXAMPLE
Dynamic Freelancer specializing in content creation, journalism, entertainment writing, and social media management. Adept in creating engaging, stimulating, and data-driven content that relays powerful messages to targeted audiences.
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Statistical Insight: According to Flexjobs, a jobs board for remote work, the top fields for freelance employment are:
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LinkedIn rarely makes digital marketing headlines. Yet, used correctly, it can be the single best social media platform for founders and startups.
LinkedIn is where you go to grow your personal brand—but not just any kind of brand. If you want to become influential in photography, you go to Instagram. If you want to become influential in photography, you go to Instagram. if you want to become known as a business owner or entrepreneur, you go to LinkedIn.
52% of buyers say LinkedIn is the most influential channel during their research process. Almost 90% of B2B marketers use LinkedIn for lead generation, and 62% of them say it generates twice as many leads as the next-highest social channel.
Almost 25% of LinkedIn users are senior-level influencers: decision-makers, business builders, and C-level executives. These are the kinds of people you need in your circle when building a business.
LinkedIn is the place to go when you’re looking for a job—and it’s also where your new hires are hanging out. Post job opportunities, look for referrals, and hire your dream team.
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You can find your SSI in the LinkedIn Sales Navigator. It measures your social selling skills and execution by looking at 4 primary components:
Each of these components is worth 25 points, so your SSI score can be as high as 100.
Improve your score, and LinkedIn will show your content to more people.
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On average, a full-time freelancer works for 43 hours per week.
That is similar to a regular nine-to-five job. However, freelancers have flexible working days and schedules.
Some freelancers may work part-time, around 20 to 25 hours per week, while others may work for more than 40 hours.
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The hourly wage for freelancers in the United States can be as high as $132.21 or as low as $14.90.
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Keeping your accounts up to date and staying on top of invoices is critical for success as a freelancer. Doing so will help you run as tax-efficiently as possible and reduce instances of late payments to protect your cash flow.
The Quickbooks accounting app is one of the most popular of its kind, especially as it has a plan exclusively for self-employed freelancers. Having an app like this on your mobile, while you’re out and about, makes it quicker and easier to track miles and record transactions as and when they happen.
This is a free accounting app that is also a bookkeeping software and invoicing platform. Manage customer and supplier invoicing, upload receipts, view reports and complete banking straight from your mobile.
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Social media can be an invaluable tool for getting your name out there, building your audience and sharing your content far and wide.
However, to get the most out of your social media channels, they require investment of time and effort, which can be significantly optimised with a scheduling and management app.
🔥 Two of the most popular right now are Hootsuite and Loomly.
Download the Hootsuite app to draft, schedule, and publish social media content across all of your platforms from one dashboard. You can also engage with your audience and access performance analytics directly from the app, without having to log in to separate social media accounts.
This other popular social media management platform has recently launched a brand-new mobile app. Once all your social media accounts are connected, you can then create, optimise, schedule and analyse performance of your social media content all in one place.
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Discovery is an important part of being able to effectively market yourself as a freelancer.
Effectively leverage SEO to help people find your website. SEO as a whole is complicated. At a high level, your job as a website owner is to provide information to people as fast and efficiently as possible.
You can check out services like Ahrefs, which can really help you level up your SEO game by targeting keywords and monitoring performance of keywords that you are ranking for.
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The arts & design industry has the highest proportion of freelance workers in the US - around 3 in 4 are self-employed.
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