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Experts say everyone should have an emergency fund, but I've found it's one of the smartest things any freelancer can do

Experts say everyone should have an emergency fund, but I've found it's one of the smartest things any freelancer can do
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As a freelancer, you can be much more vulnerable to big financial changes, like sudden loss of income.




Having an emergency fund can help you get through common things like a sudden loss of a client or late payments.




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I freelanced for about a year before joining the staff at Business Insider. In that year, I learned how to manage my ever-changing income quickly. But, I credit having an emergency fund with my success.
The idea of an emergency fund is to keep at least six months worth of all of your expenses in case of an emergency enough to cover not just your rent or mortgage, but also any car payments, food costs, debt payments and anything else you might need to cover in a month. It's something that couldn't be more important to have, whether you're in the gig economy or not. But in the volatile world of freelancing, I'd say it's not negotiable.
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