In this episode, I cover my own experience of income as a self employed professional and relevant topics.
- Set stage of a fulltime income
- $100k a year$3,500 every 2 weeks like clock work
- Direct deposit into your personal account
- Mention Salary vs. Hourly - more on this in a couple of episodes
- 15 minutes granularity
- Be fair, take turns rounding up/down when you need to
- Introduce net 30 and what that means best case scenario
- 2 weeks of work
- Invoice
- 4 weeks until invoice due
- Check in the mail
- Introduce wild ride of self-employed world (in my experience)
- International clients - what do you do?
- Credit cards
- Paypal
- Things to explore in future interviews: new options like vemno
- Ways to help prevent wild changes in monthly income
- Determine and get payment terms in writing before starting work
- Try for payment due upon receipt if you can
- Invoice regularly
- Direct deposit or money transfer - keep in mind this does cost someone money
- 6 months emergency fund