Pensions, sick pay and setting aside money for a rainy day are not things many self-employed people consider, especially when they are starting out. And as so many find out later on – neglecting them proves to be a mistake.
Sound financial planning is actually more important for freelancers and the self-employed than any other sector of the workforce. Not only do they have to manage all their own taxes and business costs – they also have to build that all-important savings buffer to tide them through the vagaries and fluctuations of the freelance lifestyle. And as if that wasn’t enough, they have to plan their own pensions and savings for later life too.
In a bid to raise awareness about the importance of financial planning, IPSE hit the road for a series of Money Roadshow events across the UK. The events, in Edinburgh, Manchester and London, gave self-employed people the chance to speak to, and get advice from, financial experts on a host of topics – from saving for later life to getting a mortgage as a self-employed person.
One of the main features of the events was the chance for freelancers, contractors, consultants and anyone considering becoming self-employed to book 30-minute, one-to-one slots with experts from IPSE’s partner organisations. This Included HSBC, Close Brothers Asset Management, CMME who provide mortgages for independent professionals and Kingsbridge Contractor Insurance, IPSE’s partners gave advice about a huge range of freelance finance subjects.
Then to round off the UK-wide roadshow, there was an evening reception in London, with talks from leading financial experts from IPSE’s partners – on everything from managing money as a freelancer to getting paid faster for contracts. Not to mention drinks and plenty of opportunitiesW to network with like-minded self-employed people from across the UK.
The London event also coincided with the launch of IPSE’s brand new finance magazine, My Money, which offers invaluable advice and insights into all aspects of freelance finance – as well as personal accounts from across the world of freelancing.