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According toUpwork data, 39% of the American workforce now does some sort of freelance work.
This means you gotta be more proactive about investing for the future.
Allocate funds for key priorities like investing and building a nest egg for the future, Hubbard said.
Even in small amounts, investing early and consistently may set the foundation forlong-term financial security.
Hubbard recommends regularly putting aside money into a diversified portfolio.
Be Prepared To Pay Taxes
Setting aside money for taxes should be incorporated into your budget.
Freelancers and gig workers are in charge of their own taxes, Kibbel noted.
To avoid fines, submit your anticipated quarterly taxes to the IRS.
To avoid having to scramble each quarter, carefully track your income and spending on an ongoing basis.
Your personal assets will be safe from business-related lawsuits if you getself-employed liability insurance.
Diversify Your Sources of Income
Be savvy about the different types of jobs you take on.
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