Starting a new business? Get 40% off our accountancy services for 3 months! 😎


Earning enough from freelancing to pay the monthly bills and buy food is a worthy achievement, so if you’ve managed this, well done. Unfortunately, freelancer finances have to cover more than the basics. 

You need to be able to afford to save for five very important things out of your monthly earnings, too. Last time I looked at saving for the dreaded Bad Month (or Three), when well-paid work disappears or just doesn’t come your way.

But the second thing freelancers need to save for is…

The Unexpected

We’ve established that earning enough for your food, energy, phone bill, mortgage etc. is great. There are usually no big surprises there and if those bills are going to rise, you normally know in advance. At that stage, you either have to find a way to bring in more money or ask yourself whether that new iPhone is really worth the eye-watering payment it will demand every month.

But the things that catch us out financially are the failure of white goods, or our car, roof, boiler. Maybe our housemate decides to move out or our partner is made redundant. A family illness that sees us making multiple long-distance trips, countless phone calls and more days away from work than we can afford.

What Could Possibly Go Wrong?

I described my own Bad Month in Part 1 and yes, you’ve guessed it, I have personal experience of The Unexpected too.

I returned from my holiday early in August to find that my dishwasher had leaked – flooding the floor, tripping the electrics and turning the contents of fridges and freezers into black, foul-smelling ooze. The temptation to shut the front door and never return was fairly strong.

Also, this last month has merely been the baddest month of a Bad Three Months, because my other half was made redundant in the summer, and has developed an unfortunate habit of being shortlisted and told he is ‘top of the pile’ for new jobs – that eventually go to someone else.

If someone else contributes to your household bills and family expenses, then consider if you earn enough to keep things going if they are unexpectedly having a Bad Month (or Three) too.

Happier Tales of the Unexpected

Of course, unexpected doesn’t always mean unpleasant.

Your son or daughter might bring home a letter about an expensive but vital-for-their-education or chance-of-a-lifetime school trip. A friend may decide to move their wedding out of the rainy UK to the sunny Maldives. They’re not disasters, but they are unexpected expenses.

None of us are immune from these unexpected and expensive events, so ensure you have a sum put by to deal with them when they occur.

About The Author

Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

More posts by this author
Notify of
Inline Feedbacks
View all comments

Read more posts...

What is a Non-Established Taxable Person for VAT?

There are special VAT rules in place for online sellers who are classed as non-established taxable persons (NETPs), and use an online…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More

What Employers Need to Know About Statutory Maternity Pay

There’s lots to think about as an employer, but one big thing you don’t want to fly under your radar is what…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.