EP 503: Money Tips Every Freelancer Needs: Taxes, Retirement & Getting Paid on Time

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.8 • 1.3K Ratings

🗓️ 26 November 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Thinking about ditching the 9-to-5? Already navigating the ups and downs of freelance work? This episode is your financial playbook for thriving as your own boss. Jean Chatzky sits down with money coach and longtime freelancer Emily Guy Birken to unpack everything from budgeting on irregular income to choosing the right retirement accounts. Emily shares her personal percentage-based money system, explains why separate bank accounts are non-negotiable, and reveals the must-have clauses for every freelance contract. Whether you're freelancing full-time or hustling on the side, these tips will help you get paid, save smart, and sleep better. In This Episode: How to build a baseline budget as a freelancer A smart, percentage-based system for managing income The pros and cons of solo 401(k)s vs. SEP IRAs How to structure your business Why contracts are your best friend in freelance work How to stay emotionally grounded in unpredictable times Resources & Links: 📚 Emily’s book: Stacked: Your Super Serious Guide to Modern Money Management 🔗 More financial tips for freelancers at HerMoney.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Vanta.
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0:32.0	I put 50% of my money aside into what I call my kitty,
0:36.0	and that is where my salary comes from,
0:39.0	every two weeks. From that savings account, it goes into my checking account, and that's my
0:44.0	salary that is the same as when I had traditional jobs. And then I have 20% goes into my quarterly
0:50.3	estimated taxes savings account, and then 20% goes into my 401k, my solo 401k.
0:59.3	Hey and welcome to her money. I'm Gene Chatsky. The way we work, it's always changing. While many of us
1:06.7	still have a traditional 9 to 5, more and more people are choosing to go freelance, either full time or maybe as a side
1:14.3	gig.
1:15.0	And sometimes it's because you just want more flexibility after decades in an office or have
1:22.6	been through a round of layoffs and never, ever want to feel that vulnerable again or maybe you just want to
	...

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