We like to think that financial planning is important to everyone in Perth, and that includes the self-employed. We know that many self-employed people tend to neglect financial planning services because they are always busy and don’t have the time. We visited the ASIC website called MoneySmart and found some information that can be helpful to the self-employed.
This information is general and is not a substitute for individual advice, but we thought it might be helpful for the self-employed to see what ASIC has to say about self-employed people and money.
Managing Cash Flow
Those who are self-employed tend to make a good living and earn a strong income. However, that income doesn’t always come in on a regular basis. For some, it can be months between pay periods. ASIC stresses that it is important for the self-employed to manage their cash flow properly to ensure that they have income during long gaps between “paydays.”*