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NerdWallet's Smart Money Podcast

How Can You Make Sure You Get Paid On Time? Introducing "Working Overtime" from Slate

Jul 4, 2024
Join hosts Ronald Young Jr. and June Thomas as they share tips on how freelancers can ensure timely payments. They discuss challenges like complex invoicing procedures, delays in payments, and the importance of clear payment terms in contracts. Tune in to learn how to navigate payment challenges and secure steady income as a freelancer.
17:24

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Quick takeaways

  • Securing anchor jobs for consistent income is crucial for managing finances as a freelancer.
  • Proactively discussing payment terms in contracts and understanding organization's payment systems minimizes delays in getting paid.

Deep dives

Challenges of Freelance Payment Timeliness

Freelancers often face challenges in receiving timely payments, with delayed or complicated payment processes from organizations causing frustrations. Delays in payment, extending past industry standards like net 30 days to even 60 days or more, impact freelancers' financial stability and stress levels. Managing finances between irregular paychecks can be addressed by securing anchor jobs which provide a consistent income stream, enabling freelancers to pursue higher-risk opportunities.

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