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Imagine two freelancers, who have the same income/revenue. Yet freelancer A has a much better financial situation than freelancer B. Freelancer A has less debt, saves more, has more money left to spend at the end of the month.
What causes this difference?
Here are some random observations from the Flow team:
- They hate having any debt. They save aggressively to eliminate debt as soon as they can.
- Their spending behavior and -habits stay the same, no matter their increased income level.
- They have an allocation system for their income across various "buckets".
- They know EXACTLY what makes them happy on a day-to-day base, and they spend their money guilt-free on these things.
- They are frugal but not cheap - because they know that the real difference is made by a higher income (and not by cutting back on a Starbucks coffee).
These are five simple rules we see successful freelancers live by.
So what is your point of view? According to you, what are the (money) rules that makes a freelancer financially successful?