Happiful October 2020

and don’t be afraid to send email
reminders when they are overdue.
Remember, you’re legally allowed
to claim interest and debt recovery
costs on late payments. More
information on this can be found
at gov.uk.
2. Increase your rates
They say money won’t make you
happy, but as a freelancer who
has spent a lot of sleepless nights
worrying about my finances, I
can tell you that increasing your
income, even slightly, will have a
tangible impact on your mental
health. Having the “I’m putting
my prices up” conversation
is a toughie, but one that I’ve
had success with on multiple
occasions. First up, don’t just
pluck a figure out of thin air
and expect your client to blindly
accept the increase. They can
research your competitors and
find out what they’re charging,
so you should do the same. This
will give you a range of figures to
work within, taking into account
what your current rate is. Open
up a dialogue, either on email or
by phone, and make it a two-way
conversation with a professional
tone. Don’t get angry or upset. Just
be honest about your expectations,
and cite examples of the work
you’ve done before to back up your
right to be compensated fairly.
3. Financially plan for holidays
In the UK, full-time workers
are entitled to a minimum of 28
days paid annual leave, and yet
research by IPSE, trade body for
the self-employed, shows that the
average freelancer takes just 24
days of holiday per year. Time off
can feel like a luxury rather than
a necessity, and when time off
equals a loss of earnings it’s even
harder to down tools. But with
careful planning, you can (and
should) schedule regular time off
throughout the year.
The secret is to build paid
holidays into your pricing
strategy. When setting future
income goals, assume that you
will only be working 45 weeks
out of the year as opposed to 52.
Then take your goal salary and
divide it by the number of weeks
you can carry out paid work. So
for example, if you’d like to earn
£30k a year you’d need to earn
£666 a week (over 45 weeks) to hit
that target. This gives you a great
starting off point for pinpointing
your day rate or pricing packages
that will give you enough money
to take the time off that you
deserve.
4. Socialise with
other freelancers
Studies show that being socially
disconnected can have a
real impact on your physical
wellbeing, so if you want to
minimise your sick days (and
improve your networking
skills) then make an effort to
talk to other freelancers. The
social support that comes from
freelancing communities – such
as membership sites, group
business coaching, or Facebook
groups – can help to reduce the
stress that comes from selfemployment.
Friends and family
often have no frame of reference
with the complications that come
from doing your first tax return,
or dealing with toxic clients. But
you can bet your bottom dollar
that a fellow freelancer will not
only get it, but they’ll have some
sound advice to help you rise to
the challenge.
5. Be the boss you wish
you’d always had
Don’t fall into the trap of letting
your business run your life. The
whole point of being freelance is
to break away from the shackles
of the rat race, and build a career
that works for you. Be bold and
set working hours that allow you
to do the things you love, whether
it’s sleeping until midday or going
for a run in the afternoon. During
lockdown, I didn’t sit down at my
desk until 10.30am most days, and
it felt like such a luxury to give
myself the time I needed to get
my motor running each morning.
Think about all the perks you wish
you’d had in previous jobs. Maybe
you would have liked a daily yoga
class, access to counselling, or
an extended lunch break. As a
freelancer you’ve got the power to
implement these things into your
working life, so do it!
Fiona is a freelance writer and author,
whose new book ‘Out of Office’ is
available in print from 1 October. Visit
fionalikestoblog.com for more.
October 2020 • happiful.com • 59