Intermediate level · Module 5: Financial Management for Freelancers · Lesson 2 of 3
Saving for Taxes and Slow Periods
Set money aside so obligations never become emergencies.
In this lesson you will
- Set aside tax and emergency savings
- Check tax obligations
Key concepts
tax set-asideemergency fundofficial guidanceequipment replacement
The lesson
Set aside a share of each payment for taxes and for replacing equipment such as your laptop.
Check your tax obligations with the official tax authority; rules depend on where you live and how much you earn.
Keep savings separate from spending money.
Step by step
- Find the official tax guidance.
- Choose a set-aside percentage.
- Plan equipment replacement savings.
- Set up separate savings.
Practice activity
Write your savings rules.
Expected result: Clear set-aside rules.
Check your understanding
-
Where should tax information come from?
Show answer
The official tax authority.
-
Name two things to save for besides emergencies.
Show answer
Taxes and equipment replacement.
Taught live by an instructor — online or in person. Free course lessons are for self-study and do not lead to a certificate — see registration options.