4 financial experts told me how to cut my spending while my income is down so I don’t blow through my savings
I’ve been a full-time freelancer for the past five years and haven’t had much issue keeping my income steady.
But thanks to the coronavirus, many of my clients have cut back on assignments.
My emergency savings fund is in good shape, but I don’t want to drain it before the pandemic is over.
Since I’m still making some money, I asked four financial experts how to cut my spending so I can live on the money I’m bringing in and not have to blow through my savings.
I’ve been working overtime to build up my savings account since 2015, after I was laid off from my job and realized my finances were a big mess. When I switched from a full-time job to being a full-time freelancer and business owner, I made it a point to add to my savings account and emergency savings fund every single month.
But due to the shakeup caused by the coronavirus, my projects have thinned out and my clients have taken a few steps back and put work on hold. The money isn’t coming in as steadily as it was before the virus, which made me panic about dipping into and depleting my savings account.
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