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If you work on a project basis, for example as a consultant or as a short term contractor, avoid the pitfalls of having to manage ‘drought and flood’ finances by establishing a deposit policy for work in progress.

You should be entitled to ask for a percentage of the project’s value upfront and may be able to design a payment policy based on certain milestones within the project so you can keep your cash flowing. Some clients may be able to pay you a weekly wage akin to long term contracts with the remainder paid upon completion of the project.

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Adeline Teoh

Adeline Teoh

Adeline Teoh is a journalist with more than a decade of publishing experience in the fields of business, education, travel, health, and project management. She has specialised in business since 2003.

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