Do you know what one of the biggest struggles for freelancers is? You guessed it…getting paid on time. In fact, 29% of all invoices are paid late (or not paid at all).
This week, we’re showing the key ways you can prevent late payments and how to react to clients who choose to ignore your invoice.
Weekly Must-See Tips
How to Add Late Payment Fees
From credit companies to libraries, late fees are one of the biggest weapons used to encourage people to stick to due dates, which is why you should be using it too! Here’s how to add a late fee penalty to your invoice so that clients pay on time.
5 Things You Need to Know About Late Fees
While late fees are a strong incentive, there’s a few things you should know about adding late fees to your contract properly. Here are 5 things you need to know.
How to Ask for an Upfront Payment
Along with late fees, upfront payments (or deposits) are another big way to get paid earlier. Find out how you can collect a percentage of the money before you even start working.
How Should One Handle Not Getting Paid on Time?
It’s good to expect the best while preparing for the worst. So what happens when a client still pays you late? Learn how to respond to clients who ignore your invoices.
You Got Paid! Now what’s the Best Way to Budget?
Getting paid on time feels great, but micromanaging your money is a must in case another late payment happens. Budgeting will help you make the most of your cash flow. Here’s how to budget properly as a freelancer.
Conclusion
Managing invoices and dealing with problem clients are two challenges everyone faces. With these tips, you can handle both like a pro.
And if you’re looking for an easier way to manage client relationships, Indy helps you create strong contracts that manage client expectations, communicate more effectively with clients, and get paid faster through simple yet powerful invoicing.
