Frugaling

Like it or loathe it, freelancing is the way of the future for many young professionals. Though there are many advantages to freelancing for a living, it can be difficult for new freelancers to manage their finances effectively. After all, freelancers don’t receive a “steady paycheck” like traditional nine-to-five employees. Nor do they have access to insurance programs from employers. Given all that, today we’re going to highlight four financial tips for aspiring freelancers that will help them stay out of debt and on the path toward economic prosperity. 

Figure “Average” Income

It can be tricky for freelancers to budget their money effectively –– in large part because they might not know how much they’re going to make in a given week, month, or year. Indeed, it’s not unreasonable for a freelancer to make $5,000 in a two-week span only to barely crack $1,000 over the next month, for instance. The key, then, is to calculate your average yearly and monthly income. This will allow you to set an accurate budget and reasonable financial goals and expectations. 

Negotiate

What is the value of freelance work? In truth, it can be difficult to say. What you charge to complete a project may be more or less than what a competing freelancer charges. Because of this, freelancers need to be skilled negotiators in order to 1) land jobs and 2) make money consistently. As a general rule, you can’t be afraid to negotiate with clients. However, you shouldn’t make a habit of selling yourself short. Providing services for less than they’re worth can weaken your bargaining position in the future. 

Create Savings Funds

As mentioned above, freelancers don’t have access to 401ks or insurance programs set up by employers. Instead, they need to create savings funds for themselves. Signing up for health insurance and setting aside money for retirement might not seem glamorous, but it’s essential all the same. 

Don’t Overreact

Freelancers have good months and bad months; successful professionals learn to take everything in stride. They don’t give into financial anxiety after a paltry month, and they don’t suddenly splurge after a lucrative period. Maintaining an even keel and a positive attitude is one of the best ways to set yourself up for long-term success as a freelancer. 

Final Thoughts

Whether you design websites for startups or you write detailed articles about complex equipment like ACD-A tubes, freelancing can offer young professionals a meaningful opportunity to forge a career path. Thankfully, the above tips will help you reach your goals and avoid financial pitfalls. Keep them handy –– you’ll be glad you did!

Person-to-person sales interactions are, and probably will continue to remain, a big part of commerce as we know it. At the end of the day, many consumers simply want/need to speak with a sales representative before they make a purchase decision. And this goes double for significant purchases like cars, for instance. However, business owners can work to increase online sales conversions all the same. In fact, boosting your digital sales will ease the pressure on your sales team and increase your company’s profitability. Here are four tips you can use to improve your online sales conversion rates:

Chatbots

Chatbots are an amazing tool that can drastically improve the customer experience of shopping online. With a well-programmed chatbot, customers can get answers to frequently asked questions and avoid having to call up a sales representative. The key, though, is that any chatbot implemented must be fully functional. Broken chatbots can actually diminish sales by irritating potential customers. So be careful when introducing automation on your site!

Ecommerce Optimization

Is your ecommerce store easy to navigate? Does it have detailed descriptions of products/services? Are pictures or videos included? Are your ecommerce pages optimized for search engines? These are just a few of the questions business owners should periodically ask themselves about their ecommerce operation. Higher quality ecommerce pages can lead to an uptick in sales. Plus, remember that ecommerce stores do require regular maintenance. You can’t set and forget ecommerce stores.

Retargeting

Many shoppers consider buying a product days or even months before they finally make a decision and “pull the trigger.” As such, businesses can speed up the purchase process by retargeting individuals who have visited their website previously. Ads, messages, emails –– any and all of these methods can prove an effective way to win over a customer who’s on-the-fence. If at all possible, consider implementing personalized retargeting, since it may deliver significant returns.

CTAs

A great video, blog, or web page may present value to a customer, but without a proper call-to-action (CTA) and landing page, companies will struggle to convert online visitors with them. CTAs act as a supplement to quality content, and, when done well, can provide consumers the extra “nudge” they need to make a purchase. Whether you’re attempting to convince people to find STD clinics near you or buy a new vacuum cleaner, an excellent CTA can do wonders for your sales figures.

The Bottom Line

Now that you know how to optimize your online sales, the next step is to go out and do it. You may even want to consider applying for a business loan to fund some of your efforts. Prioritizing online sales is a decision that will offer substantial value for months and years to come.

Living paycheck-to-paycheck can place a huge physical, mental, and emotional strain on people. If you’ve ever struggled to pay for basic services or found yourself facing a mountain of debt, then you understand just how real financial anxiety is. In extreme circumstances, anxiety over money may even cause people to make poor choices that exacerbate their troubles. The key to getting out of debt is learning not just how to manage your finances, but your emotions as well. In this post, I’ll explain how I’ve coped with money-woes in the past, and offer five helpful tips for conquering financial fear:

Educate Yourself

Do you know what a fixed-rate mortgage is? Or how about a money-market account? Or what’s the difference between a stock and a bond? If you do, then fantastic. If not, then it’s probably a wise idea to educate yourself about basic financial terms and concepts. Doing this will help you follow any conversations you have with bankers, creditors, etc. Plus, by looking into basic financial terminology, you’ll also learn about fundamental best practices as well.

Talk it Out

Obviously, people in a financial bind should be willing to speak with money lenders and agents who can assist them. However, it’s also important to be willing to speak with your family members about money issues too. No, you don’t have to ask for charity, sympathy, or pity. But you should let your significant other as well as your closest family members know you’re having a tough time. At the very least, they’ll be able to offer moral support and cogent advice, which may very well prove more valuable than any loan possibly could.

Prioritize

It’s easy for financial obligations to quickly become overwhelming –– especially if you don’t know how to organize them properly. Make a list of all your bills and prioritize them. It’s okay to defer payment on inessential items from time to time in order to cover crucial expenses.

Pick up a Side Hustle

Renting out a spare room to travelers on Airbnb, signing up for a ride-share service like Uber, even freelance-writing blogs about EDTA tubes –– activities like these that help you bring in extra cash will provide both a monetary and psychological boost. Just remember that paying off debt can take a long time, so don’t beat yourself up if your side hustle doesn’t completely eradicate your money problems.

Plan Ahead

No one knows exactly what the future will hold. However, that doesn’t mean you can’t make reasonable financial decisions for your future. Investing in conservative stock options, setting up a retirement fund, and creating an emergency fund are all great ways to give yourself peace of mind. Rather than playing fast-and-loose with your capital, a few sensible choices can remove a lot of the guesswork and anxiety associated with financial forecasting.