If or when you decided to transition to the independent workforce, you’ll want to make sure you’re in a good financial position to do so. Saving now can help you be prepared for when you start your business. It’s a good idea to have a cushion of several months’ income so when you do start working you have some time to secure future projects.
Thinking about what your bill rate might be before you start work can help you set financial goals and expectations. Your bill rate is the foundation on which you’ll build your business, so determining this amount ahead of time will provide peace of mind.