Freelancer Before Vacation – How to Save Money

The holiday period is inherently associated with holidays, rest and trips. Freelancers who do not combine remote work with full-time work – as we know from the Useme report , this is half of the mobile specialists in Poland – cannot count on the privileges of full-time employees, such as paid leave.

This does not mean, however, that a vacation for a freelancer does not exist, but requires good planning and organization. Before setting off on a summer wandering, freelancers complete additional orders , put off and plan orders so that during the holidays they do not spend time contacting the client . We wrote more about freelance holiday strategies.

If you are a little late with the spring period of harder work on the holiday fund or plan to leave at a later date, but the completed schedule does not allow you to make additional assignments, you can still save some of your earnings.
How to go about it?

1. Set reasonable boundaries

It is not only about reasonable spending limits , but also reasonable saving limits . Denying yourself everything else you need to survive in a given month will frustrate you, and waiting for vacation turns into a series of sacrifices and discontent.

Rather, look at how you spend your money . If impulsive buying has been your habit for years, you won’t get into budget planning right away, but in the short term, you can limit yourself to buying things that you can live without.

This also applies to vacation plans: before you buy this incredibly overpriced kite surfing sail, think about whether one hasty expense will be fatal to your budget and whether in six months you will still be as delighted with the purchase …

2. Create a plan

Instead of relying on vague approximations and assumptions, check your funds . Estimate how much you are able to earn, how much you need to spend on necessary expenses – even assuming that you will not use coworking and stock for two weeks, and that your utility bills will be lower due to your absence.

On this basis, plan how much you can postpone, how much you can violate your “safety fund” and what orders from regular clients you can count on after returning from vacation. This will allow you to determine how much you can afford to spend.

Do not clean your savings account down to the last penny. Your financial airbag is a form of security, not a piggy bank that you can smash whenever you feel like it.

3. Look for savings

If your bank does not have this option, collect bills and track the history of your card transactions for the last month. This will allow you to figure out what unnecessary but enjoyable things you spend the most. Sales, morning coffees, afternoon pizzas with home delivery, natural ice cream? You will be surprised how much in a month you can spend on such trifles. Now think that if you deny yourself now, you will be able to afford them while you are away.

4. Make your money work for you

This strategy can be effective in both the short and long term.

The holiday period is a time of various promotions and sales, and on this wave you can also promote your product. If at some stage of his career, freelance created a course, ebook cheat type cheatsheet or any other product that may be of interest your colleagues in the profession, vacation is a good time to remind them about it.

Graphic designers, 3D artists and photographers generally have “leftovers” from their commercial projects or files made “for sports”. If they are good quality pairs, such as brushes, vectors, all kinds of backgrounds, patterns or mock-ups , you can also make them earn for you.

In the long term, you can, in turn, use your vacation to create a product that may be of interest to other freelancers. The Useme report indicates that, after blogs and thematic websites, industry books and magazines are the most frequently chosen sources for expanding knowledge and learning new skills. Use it!

5. Invest in yourself

If you have been hit by the holiday crisis and you have realized that not everything about vacation planning – from time to money – is done by itself, use this experience as a lesson for your future.

When you get the next transfer from your client, save some of your salary. You can deposit them into a special savings account with a future deposit in mind, save them for retirement, and finally pay them into a separate account, where you will save money for specific purposes.

Try to have them planned: money that has no specific purpose, for example as a security, will quickly find another use – not necessarily in line with what you want to achieve. Having a target is also a good incentive to keep saving.

One of your fundraising assumptions is to save money for courses, training and “science” purchases, such as specialist literature, which in the long run will allow you to earn more and fulfill a wider range of orders for clients.

 

Freelancer before the holidays – summary

Do you work remotely and cannot count on paid leave? If you have decided too late it is time to plan your summer vacation, all is not lost.

The basis is a good organization , reliable determination of your financial capabilities and… measuring your forces against intentions.
When planning a vacation, try not to violate your financial “stock”. Instead, try to look for savings, reduce unnecessary expenses and look for additional orders .