Six ways self-employed people can look after their money during cost of living crisis
dailyrecord.co.ukThe number of self-employed people has steadily increased over the last two decades, climbing from 3.2 million in December 2000 to over 5 million at the start of 2020, settling at 4.2 million this year.
New research by independent finance broker, Norton Finance, has recorded a 20 per cent growth in self-employment advisory services over the last two years since the coronavirus pandemic began.
If you start working for yourself, or are thinking about going it alone after years in regular employment, there is a set of important financial decisions to be made, but luckily, Norton Finance has prepared a six-step guide to help everyone through it.To keep work and personal finances separate, set up a business bank account to manage income and work expenses.
This makes life far easier when it comes to self-assessment.Be sure to set aside enough money each month so that you can pay your taxes when they’re due.
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