Hit a freelance wall this month with client pauses

Hey everyone, Ryan here. I train people one-on-one, and this month, four of my steady clients said they need a break, which hit my income hard. I always heard about saving for slow times, but I didn't listen. Now I'm trying to find quick ways to make cash. I signed up for a gym that needs fill-in trainers and I'm putting together a cheap online group class. It's a wake-up call for sure. How do you guys build a cushion for times like this?

3 comments

3 Comments

rayl541d ago

Back in March (my worst month ever), I saved like crazy but still panicked when work stopped. Having cash set aside didn't calm my nerves about where the next job would come from. I'd rather spend that energy lining up the next client before the current one ends.

the_harper1d ago

That "lining up the next client" mindset is everywhere now. It's like how we pre-download the next episode before the one we're watching even ends.

dakotac751d ago

Ryan, that 'save for slow times' thing hits hard, doesn't it? I put 20% of every freelance check into a separate account right away. What do you do with your cash, just let it sit in your main account? Another move is to have a few small, ongoing gigs that cover basics like your phone bill. It's not sexy, but it keeps the lights on when big clients dip out. Why not set up automatic transfers so you don't even see that savings money?