Money Management & Growth
Help readers keep and grow the money they earn online.
Topics:
· Budgeting for Freelancers: Tools & Tips
· Investing Your Online Income – Beginner’s Guide
· How I Saved $5K from Side Hustles in 6 Months
Useful Links: Mint, YNAB, Robinhood, Wealthsimple
Budgeting for Freelancers: Tools & Tips to Stay on Track
Freelancers often face unpredictable income, but with smart tools and habits, you can take control of your finances.
�� Why Budgeting Matters:
· Track income from multiple sources
· Save for taxes and emergencies
· Avoid the “feast or famine” cycle
�� Top Budgeting Tools:
✅ Mint (Free)
· Syncs with bank accounts
· Tracks spending + sends alerts
�� Try Mint
✅ YNAB (You Need A Budget)
· Zero-based budgeting method
· Best for freelancers with irregular income
�� Explore YNAB
✅ Notion (Custom Budget Templates)
· Build your own freelance income tracker
�� Use Notion for Budgeting
�� Freelancer Budget Tips:
· Use the 50/30/20 rule: 50% needs, 30% wants, 20% saving/taxes
· Separate bank accounts for income, taxes, and spending
· Save a % of every payment (at least 25%) for taxes
Topic-2
Investing Your Online Income – Beginner’s Guide
Making money is great — but growing it is where true financial freedom starts. Here's how to begin investing even with small amounts.
�� Investing Options for Beginners:
�� Robinhood (US-based)
· Commission-free stock & ETF trades
�� Start on Robinhood
�� Wealthsimple (Canada)
· Automated investing, no minimums
�� Try Wealthsimple
�� Other Platforms:
· Acorns (invest spare change)
· M1 Finance (for auto-investing & long-term goals)
�� Easy Steps to Start:
1. Pay off high-interest debt first
2. Set up an emergency fund (3 months' expenses)
3. Invest small: even $20/week adds up
4. Learn the basics of ETFs, index funds, and dividend stocks
�� Tip:
Think of investing as "paying your future self." The earlier you start, the better.
Topic-3
How I Saved $5K from Side Hustles in 6 Months
Saving while side hustling is doable — even if you're not making a ton. Here’s my real-life strategy to stash $5,000 while earning online.
�� My Income Sources:
· Freelancing on Fiverr → $400–600/month
· Affiliate income → ~$200/month
· Digital product sales (Canva templates) → ~$300/month
· Cashback/reward apps → ~$50/month
�� Saving Strategy Breakdown:
Method | Monthly Saved |
Automatic transfers (YNAB) | $400 |
Cash-back reinvested | $50 |
Digital envelope budgeting | $250 |
Zero unnecessary splurges �� | $100 |
�� Smart Habits That Helped:
· Treat savings like a bill
· Used separate high-yield savings account
· Created a “money mission board” in Notion for motivation
�� Free Tools I Used:
· YNAB for budgeting
· Mint for tracking expenses
· Robinhood for investing
· Canva to create my digital product side hustle
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