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Feel frustrated with normal employment, and wanting to strike out on your own. Well here are a few financial tips on saving money when going self-employed.

Hello, I’m Anna Nuttall. I’m a blogger and also a digital marketing manager, based in London. I spend my days in a sea of SEO and knee deeps in web design coding. However, it wasn’t always like this. As in a previous life, I spent 10 years working in retails, before one day I had enough and left on my accord.

At the time, I was at the lowest point in my life. After a series of health issues, I came to the realization that traditional employment just wasn’t for me. I desperately wanted to be free and to work out who I was as a person.

During that period, I had another job where I worked as a part-time social media manager for a company. It was from there I gained a second client and this gave me the push to hand in my notice.

To say I wasn’t nervous is an understatement of the century. I was terrified, But determined. As people said to me at the time, while one door closed – another one opened.

When I left my traditional employment, I was lucky in terms of having backup financial support. The retail company I worked for had an annual bonus system, that helped me out when times were tough for the first few months. I was also given a massive tax refund by HMRC, which was unexpected.

I know for anyone who is wanting to jump the gun and to go self-employed; not everyone was as lucky as me. The bonus money and my tax refund became my savior when times were tough.

Going self-employed, the realization of needing a constant stream of income does set in very quickly; Especially when bills come through.

Here are a few financial tips on saving money when going self-employed. These are what I have learned throughout my early days as a newly self-employed girl.


I know this is going to sound so boring, but make a list of what you spend on excess activities every month. How much do you spend on various streaming entertainment, such a Netflix or on the PlayStation store? Also, work out how much you spend when dining out or doing a food shop. After making a list, think to yourself; do you really need it? Can you make do without it? Are you able to find a cheaper version of the activities you like doing? Ask yourself these questions and write that list, before handing in your notice.


Before I went self-employed, I just bought a place so I was able to secure a mortgage. In the process of securing one, we (my husband and I) were advised to clear any outstanding credit card debt. The same advice applied here. Before you finish your traditional employment, try to clear any credit card balance and then cut it up. It never a good idea to relies on credit cards for bills payment when times get tough.


This is always a big plus for anyone who hates commuting or spend a fortune on petrol every week. The biggest change for me, I no longer had to run like a headless chicken to catch that train – my working environment was now my home office. I worked out that in my first month self-employed, I saved £400 just from not needing to travel anywhere. This might not sound much, but for me, it was a big saving.


This was something I advise a recent client on, as having an accountant is a big financial commitment. I’m sure you are wondering, how to keep on top of your finance? Read up on self-assessment on various government websites, also read up on everything to do with various tax codes. There a wealth of information out there to help you. Also, you can always book a meeting with your bank business manager for any advice.


The cold calling sharks who will offer an army of amazing services for a hefty price. I was surprised in my early days how many cold calling sharks I received from so-called top agencies claiming I would need their services for top fees. Well as you can imagine I had a few explicit words on my own.

Those were my financial tips on saving money when going self-employed. I hope it has helped you. I would also like to say, life is too short to do a job you hate; the best thing to do is to take control of your own life.

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  • Great information thank you

  • I’m a full time blogger and not spending in excess is something I really struggle with.

  • Thank you for your advice. I’ve been dealing with ‘cold calling sharks’ like crazy. Some of them even email me.

  • I really enjoyed reading this post. I agree that one of the first things that one needs to do is evaluate their excess spending and see where they can cut costs.

  • For whatever reason someone is savinf money it can be really hard staying focus on the thing you truly want. I never had that problem. I have been saving easily for anything. It’s all about how much you want it. But I guess if one is self-employer and dont have much money one dont have a choice than to cut those credit cards!

  • Great tips. Sometimes we need to read these again and again even though you know whats right and wrong. Thanks for sharing.

  • Good idea to let people know there is info out there for free to read rather than getting an accountant. Good for you for taking the plunge and quitting your job cold turkey 🙂

  • Such a great tips, I guess we all need to save money whether we are self employed or not. Curtailing the extra spend not only helps us save money but also environment in some or the other way.

  • Some really informative tips here. There’s so much to consider before becoming self-employed! Thanks for sharing.


  • These are definitely great tips. They can be applied to both the employed for wages and self-employed groups of people. This was such a great article. Thank you for sharing.

  • Excelent tips! I quit my job as a chef to work on my blog full time a year ago and as a self-employed I can totally relate. The only thing is that when you live in greece you cannot skip the accountant, the system here is so complicated you cannot do without the help of a pro..

  • Being self-employed also means the responsibility to thrive, not just survive. These are great tips to be mindful about spending and keeping a sound financial plan. Thank you!

  • What a helpful post! I would LOVE to become self-employed, but just thinking about the potential loss of money terrifies me – these are great tips to help combat that. I’ve never had a credit card for exactly that reason: I don’t want to rely on it (plus, it’s a temptation haha) but excess spending is something that I really need to work on – oops. 😛

    Christie’s Take on Life. xx

  • I think it depends on funds, I’ve started a company with two friends and our accountant is well worth the spend

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