Freelance Saving

skipper1967

Morning,

I'm a Freelance worker and am keen to put a percentage of what I earn into some saving/investment. I would like to be able to do this when I want and regularly as the money comes in on different dates as I'm sure you know if you are freelance.

Thank you for any help or advice.

atush

Well, most things set up to take regular investments take the same amount every month.

So what you could do, is smooth out your finances by saving for a period of months into savings, then drip feed from there into a pension, S&S Isas or a regular saver. Topping up this account whenever you have work.

Pensions and S&S isas can also take lump sum investments on top of your regular contribution (or lack of one entirely). but there is merit in drip feeding in monthly, read up on pound cost averaging.

jimjames

As one example HL have an online service where you can amend the DD every month for your S&S ISA if you want. So you can do nothing one month and £1000 the next very easily.

However before investments you should have some core savings as an emergency fund to cover time when you aren't working or are waiting for payments. Once that is in place then long term investments are worth investigating.

skipper1967

Thanks for your advice and taking the time to reply.