Self-employed or freelancing

Your income changes month to month and no one withholds taxes for you. Here's the plan we'd start you on.

Make this my plan Take the checkup instead

1
Know your numbers
Budget from your lowest normal month, not your best one.
Read your paycheck Track your spending Make a budget Zero-based budget 50/30/20 budget calculator Challenge: No-spend week
2
Set aside money for taxes
Move a set share of every payment to a separate account for quarterly taxes.
How taxes work Sinking funds Irregular income budget Quarterly estimated taxes Self-employment tax Savings goal calculator
3
Save a $1,000 starter fund
A small cushion keeps a flat tire from turning into card debt.
Bank accounts Emergency fund Automate your money Your first $1,000 Savings goal calculator Challenge: $5 a day for 30 days
4
Grow your emergency fund to 3 months
Aim for 6 months of essentials, since your income swings.
Emergency fund High-yield savings Where to keep cash Emergency fund calculator Challenge: The 52-week challenge
5
Check and protect your credit
A wrong item on your report can cost you on every loan.
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6
Invest 15% for retirement
Without a 401(k), an IRA is your first retirement account.
What is investing What is a 401(k)What is an IRA Index funds Start investing Target-date funds Compound growth calculator
7
Protect what you've built
One uninsured bill or scam can undo a year of progress.
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