How to manage your finances as a homeworker

Organising your finances to get you through the lean times

Working for yourself is almost always a financial rollercoaster. The lucky few have contracts which ensure a monthly check but for most homeworkers there is an element of uncertainty each month.

This is not for everyone. If you are the sort who worries about paying bills on time, then think hard. Equally if you are hugely disorganised with finances, get disciplined.

Working for yourself needs flexibility. Talk to the bank manager – and keep talking. If times get tough, act quickly and usually you will get a reasonable response – particularly if you have shown in the past that you have been able to make good.

Talk it through with your partner. They will have to be prepared to live with the bad times as well as enjoy the good times. If they also work, are they prepared to bail you out occasionally? Can you afford not to have a regular income?

Most homeworkers face seasonal peaks and troughs. You will have to be well organised to keep money back for the bad times.

In an ideal world, every homeworker would be an incredibly efficient machine – the ultimate professional who could perfectly balance the pressures of home and work, never need an overdraft, pay his or her tax on time and still have fun.

Unfortunately the picture for most of us is not quite so rosy. The main thing to remember is not to panic, to deal with problems as quickly as possible and to remember that on a warm sunny day you can sometimes escape from the office and leave office workers in their hot stuffy buildings without a guilty conscience.


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