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6 Ways to Make More Money as a Freelancer

6 Ways to Make More Money as a Freelancer

I’ve been freelancing for many years, and in that time I’ve worked with a variety of people, learned a lot about myself, and had to figure many things out on my own, including what to charge and how to deal with rude clients, among others.

Ultimately, the most important lessons I’ve learned have been about how to maximize what I can do to make more money and become better in my niche and field. Use the lessons I’ve learned to take your freelancing to the next level, make more money, and become a superstar freelancer.

1. Make Yourself Look Good

There are a few ways to make yourself look great as a freelancer, and one of the first places to focus on is your online portfolio. If you don’t have one yet, make one now. This will give potential clients a quick and easy way to see what you’ve done, what you can offer and more. I personally use About.me.

Don’t just throw a website together, though. Spend time using this as an opportunity to highlight your absolute best work and the skills and experience that sets you apart from others.

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If you don’t have a website or online portfolio page like those on About.me, make sure your other freelance profiles are up-to-date and make you look good. Get testimonials/reviews on sites like Upwork, Elance, and 99Designs and add portfolio items and details where possible.

Make More Money: Always send a link to your portfolio to prospective clients, and highlight three key features of your work in the email itself. Some people will want to click through and dig around, while others just want a snapshot. This helps you catch all opportunities.

2. Focus on a Few Niches and Excel

Take time to find your niche. If you can become the go-to person for small business e-commerce photography in retail, for example, you’re suddenly set apart from other general freelance photographers. This gives you leverage when talking about opportunities with a client because you can likely cite experience you have that’s specific to their needs.

Make More Money: Take hold of your niche and use your experience to be more authoritative during initial conversations and negotiations: “Well, when I worked with Client X, we found that photos with a white background lead to more purchases…” If you’re knowledgeable about their industry, the client will feel better about bringing you on board.

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3. Don’t Let Fear Hold You Back

A lot of times I get emails from people who have seen my work and want to see what I can offer them, but this can be a scary email to receive. While it’s exciting to get a new freelance prospect, in cases like this, the bar is already set very high thanks to the great work you’ve already done.

Suddenly, doubts creep in: “Can I actually do this? What if I fail?” A whopping 31 percent of American adults polled cited fear of failure as their top fear—I, and probably you, are no exception. Don’t let this hold you back because it can if you let it.

Make More Money: Turn that fear around and ask yourself: What if I do pull this off? It could lead to more opportunities, maybe even extended work with that one particular client. This is an opportunity to rise to the top, not hold back.

4. Know When to Prioritize

No opportunity is a bad opportunity, but some likely make you more money than others. When working with clients, take stock of how valuable this freelance gig is to you; this could be based on how much you’re getting paid, how big their brand is (and therefore the exposure you’ll get), etc.

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On days when you’re overwhelmed with work, use this as a way to prioritize the work that will be most valuable to you in the long run.

Make More Money: Set expectations up front based on this prioritization. If you know you could deliver results in two weeks, but you aren’t getting a lot out of the relationship, tell them to expect results in four weeks. If a better opportunity comes along, you have more time to devote to it. If not, and you complete your task in less than four weeks, you look even better.

5. Know Your Worth

As a freelancer, I know how hard it is to turn down an opportunity. We can all use a little extra cash, and there’s always that glimmer of hope when you see a prospect email come through, “Oh, maybe this will lead to something big!”

However, taking work that doesn’t pay you what you deserve based on the work you do will not only be frustrating for you but takes up time you could be using to find better freelance gigs.

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Make More Money: Always take at least 24 hours to decide if you want to move forward with a new potential client. When you step away and weigh the pros and cons, you’ll be able to make a more informed decision that will likely lead to making more money.

6. Always Start High

When quoting a price for your work, always start high. If they want to work with you, it’s doubtful that they’ll come back and say, “That’s too much, we’ll look elsewhere.” More often, the case is that they’ll come back with a price or range that they can pay and then you can decide if that is worth your time.

Freelancers have a tendency to undervalue their work to get more clients, and that’s the wrong way to think if you want to get to the next level.

Make More Money: Every project will likely have different requirements, so never create a one-size-fits-all pricing model to go off of—this pigeon holes you into a strict pricing bracket, rather than one that’s fluid and flexible. Consider what you’ve charged for similar projects to start narrowing down the appropriate fee.

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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

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