New to Blogging? Check Out These Money Management Tips

Blogging requires commitment, creativity, and the ability to think ahead. It also requires high levels of organisation, especially if you want to continue on the road to success. As blogging usually begins a simple hobby, when your site suddenly explodes into a popular, money-making outlet it can be difficult to know where to turn.

From invoicing to tax, bank accounts and expenses, it’s easy to get lost, especially if you’ve never managed your own income before. Cold numbers and colder cash can be incredibly stressful when handled incorrectly and the more mistakes you make now, the more time you’ll spend unpicking all the errors you’ve created later. Time that could be better spent on your content and your blog. Here we’ll take a look at some simple money management tips for new bloggers. 

Streamline the invoicing process

When it comes to blogging, time is of the essence. You simply can’t afford to spend all your valuable time totting up numbers, creating detailed invoices, sending them out and then chasing them at a later date. By switching to invoice software from freshbooks.com, you can streamline the entire process and make billing so much easier. Maybe you’ve written a guest piece for another blog, you’ve provided advisory services on a specific subject or maybe you’ve taken on some additional freelance content work, whatever role you’ve taken on, the outcome is the same: you need to get paid, fast! 

Freshbooks has developed user-friendly invoice creation software, allowing you to generate fully tailored, high-quality invoices within seconds. Helping you to get paid as soon as possible, save time on the running of your business, and keep your blog enterprise looking super professional all at once. It’s the most simple and effective way of simplifying a traditionally complicated process. Check out Freshbooks invoicing now.    

Keep detailed accounts

Most likely, there’ll be a time when you must file for tax. This can be an incredibly stressful and overly complicated process. So, as soon as you begin to receive reminders, don’t put it off. Start the process as soon as possible to give yourself enough time to gather all the right information and numbers. Keeping detailed accounts of your income and expenses will help make the process straightforward. So, write everything down, keep copies of your receipts and invoices and store them all in a safe and easy to manage place.

Separation is key

In the early days, keeping all your money in one account is probably simpler. However, as your blog begins to grow and you’re dealing with invoices and a genuine source of income, things can quickly become confusing. Avoid mixing business with your personal life and separate your accounts. Mixing your finances together is only a recipe for disaster and confusion! 

And finally, trial and error are key

You’re not going to master money management overnight. You may find that trial and error play a larger role in the handling of your accounts. Just remember to keep yourself organised and hit those tax deadlines on time! 

*This is a collaborative post