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The Principles of Successful Freelancing by Miles Burke

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Chapter 3Manage Your Money

So you’ve jumped into freelancing, whether in whole, part, or still progressing through the planning phase. Now it’s time to sort out that “F” word: finances. Money is a fraught area for many businesses, large and small, but it doesn’t need to be. If you manage your finances properly and keep your books in order, the oft-dreaded chore of bookkeeping will soon become neither bewildering nor onerous. And if you can tick all the boxes of keeping the work coming through the door, clients happy, and deadlines under control, cash flow need never be a nightmare.

In this chapter, we’ll focus on the basics of accounting, and we’ll use some formulas to work out your expected costs. Then we’ll calculate that all-important hourly ...

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