Automation tools are a godsend when it comes to keeping track of your expenses, and there are a wide range out there available for you to use either free of cost or for a small fee. Some of our favourites include:
It can be really easy to dismiss the need for another bank account, especially if you’re starting out small with your side hustle. As tempting as it is to just pocket the money yourself, maintain costs and tracking expenses is far easier done when you have a separate business account for the money you’re making. It can also help significantly with saving money and creating plans for your next working term, so try to arrange one for yourself as soon as possible.
We’ve talked a lot about the difficulties of cross-referencing figures and forgetting to enter certain expenses already, and cloud accounting is one of the most straightforward ways to render this problem to nothing. Not only does maintaining a cloud-based accounting system mean you never have to worry about losing data to a system crash, but it also means you have a high-security system that lets you optimise the way you view your finances.
Some popular (and affordable!) options for this include GoDaddy Bookkeeping, Xero, and Wave (which is totally free, and fairly simple to use- perfect for those starting out). Getting your finances in order allows you to legitimise your side-hustle, and by doing so, you’ll find yourself more motivated to work. So get to crunching those numbers!
For more tips on freelancing or balancing a side-hustle with a full-time job, head over to our articles page.