A Simple Financial Strategy for Uncertain Times

As a freelancer, you never truly know what your income is going to look like. In the midst of this global catastrophe, we all will confront this in our own way. But with weeks of work wiped from the books and income streams completely dry, how do you even begin? 

For me, documentation is key. Recording my daily income and expenses allows me to piece together little snapshots of my financial health. At the end of each month, I’m able to reflect on the details of my financial choices. Sometimes this takes the form of validating the extra hours worked. In other instances, I look back disapprovingly of an unnecessary purchase. Each month I get closer to finding my own financial equilibrium. 

Personally, I love data. But to many this attention to detail may seem unnecessary. In normal circumstances, I would agree with you; however, typical mental bookkeeping probably will not cut it in times of major uncertainty. When expected incomes fluctuate and standard expenses shift, jotting everything down in one place will allow for a clearer financial picture. There is no better time to build this skill. Maybe a quick financial grounding will even help alleviate the stress of the unknown.

Over many months, I tweaked a budgeting worksheet that would throw off as much information as possible – it can be found here. Feel free to make a copy for yourself. I hope you find it a good place to start!

I can’t be sure how long these uncertain times will last. But one thing I know for sure – your proficiency in financial intention will be just as valuable once things return to normal.

 -Stay Healthy!