Rob and Sara discuss how eradicating debt allowed them to find success as freelancers. The importance of avoiding debt where possible, managing A/R, and paying themselves in regular, smaller increments. Rob pays himself every two weeks and Sara pays herself monthly on the 15th. They both use their business as a buffer to weather the highs and lows of income, sheltering their personal finances from the peaks and valleys as much as possible. It's never too soon to keep your finances separate. Both discuss their experiences applying for mortgages as a self-employed person and their respective choices for retirement savings as self-employed individuals. Rob and Sara also give their own unbiased reviews of the various accounting and invoicing softwares on the market.

Sponsored By:

• MileIQ: Automatic Mileage Tracking: Mileage tracking does not have to be hard. MileIQ makes it as easy as a dating app. Swipe left for personal or swipe right for business. Maximize your profits and capitalize on those hard-earned deductions.
• Freshbooks: Accounting For Freelancers: If most small business accounting software leaves you intimidated and confused, you need Freshbooks. It's the simple and clean accounting software build specifically for those of us who are self-employed.
• Harvest: Simple Time Tracking For Freelancers: Maximize your income by capturing every minute of work. Know how much time you spend doing internal tasks to ensure you charge enough. Harvest makes these overwhelming tasks easy with their suite of apps and intuitive reporting dashboard.

Support Unfederated

Links:

• Dave Ramsey — Dave Ramsey is a financial author, speaker, and radio show host that is notoriously anti-debt. Following his "Baby Steps" has allowed Rob and his family to minimize their liabilities and, subsequently, move more confidently into self-employment.
• The Best Invoice Payment Terms | FreshBooks Blog
• Freshbooks
• Clio
• Xero
• Harvest