Financial Ikigai

Are you a freelancer, who is having 6 figure business? if yes, then this post is for you.

As a freelancer, there are various things that need to be in place so that you don't have to worry about the systems or the back ends work of your business. These things are:

1. Invoices- Keep your invoices stored in a folder month-wise, this will help you to make necessary decisions at the end of the month such as who paid how much, which client can be retained, did you achieved your income goal, etc.
2. GST Returns (if taken voluntarily or T.O exceeds 20 lakhs)- If you are GST registered make sure that you file all your returns i.e., GSTR 3B & GSTR 1. Note that these returns if not filed on time make you under a huge penalty which is Rs 50 per day, even if you have no sales in the month, this is huge, don’t just skip this.
3. TDS Records- If you hire freelancers & deduct TDS from their salary, maintain how much you are paying salary & also file the TDS Return on time with a monthly payment of tax to the government.
4. Expenses sheet every month- Keep records of all your expenses such as cafe visits, monthly subscriptions, internet bills, office expenses, fixed asset bills such as laptop, A/c, Mobile, etc.
5. Current Bank A/c- Always track your bank balance at the end of the month & analyze what went right & what went wrong.
6. Cashflow of your business (Profit)- Even though the sales appear pleasing but sometimes we are under less profit because of the expenses we made, hence it is always necessary to have a monthly cashflow analysis of your business.

I will suggest keeping 1 day for all the analysis part of the business at the end of the month so that you will be in a better way to expand your business.

P.S. Want an expert eye on your business who can verify whether all the legal & tax compliances are in place, DM “Financial Audit” & I will get back to you.

New alert for influencers....

Save it now...

P.S. Want to fiel your Income tax return but stressed about how to do it? Let connect in the DMs!!

Looking for starting a freelancing career but confused about where to start? Try this skill & expand them as your career option to grow.

1. Canva Editor
2. Videographer
3. Content writer
4. Career consulting
5. MS Excel Macro Designer.

Any career option I missed, mention it in the comments below:

GST is the main concern for every freelancer & there is a lot of confusion regarding when to take GST Registration & what will be the process for the same?

So here I am clearing the confusion!!

GST registration needs to be taken when the turnover or the Sales of the freelancer increases from 20 Lakhs.

Suppose that from April to June your Turnover was Rs 18,75,000/- then GST was not applicable for you but till August your turnover is Rs 20,10,000/- then the threshold limit is crossed & now you have to take registration from August month.

But if you are a freelancer working in the Northeast States, then the threshold limit is Rs 10 Lakhs for taking registration.

Are you still confused about GST or have any doubt regarding GST, then mention it in the comments!!

(Save this) Mid-week vibes are set right. This will help you to make the best of your day. Do let me know in the comments, how you set up targets for yourself? It will be an awesome thing to know your views.

(Save this)

As a freelancer it becomes very much important to manage money as all the amount is received through online payments or from various payment platforms such as Razorpay, Phone pe, Google Pay, etc. So it becomes very essential to manage your bank account to succeed in the freelancing business.

Stop doing these 3 things with your money!!


1. Not keeping separate personal & business bank accounts- Since all the money is received in bank account, in order to maintain the ins & outs of the freelancing business & to analyze which month worked better, what expenses you made especially for the freelancing business, etc. it is important to have a separate saving bank A/c for your freelancing business income.

2. Not tracking the expenses & income every month- If you keep a separate bank A/c for freelancing income, it becomes very easy to analyze & track the expenses. Also, don’t forget to record the same in excel or any app which helps you to analyze at the year-end & help you to take corrective actions.

3. Taking money advice from relatives.- Since freelancer starts working even when they are in college, they take financial advice from their relatives or their friends of the same age. It becomes very essential for money management to actually take the advice from an expert who knows the ins & outs of money. Random advice on money might save a penny but make a loss in long run. Be careful while taking money advice.

If you are still confused about this? let’s chat, my DMs are always open.

Let's be financially literate & make our money work for you.

Be a part of this series & let me know if you have any doubt regarding freelancing & money management. I am here to help you.

P.S. An exciting announcement coming up at the end of the series 😄. I am super excited for this. Stay tuned.

Are you watching the revolutionary show

If yes, you can relate to my post & if no, then go & watch it, you are missing something in your life.

I will share my journey here before coming to the show.

As a child, I used to watch a lot of TV Serials, starting from 7 pm till 11 pm. Ask me any TV serials story, I have the answers.

Although a bright student, I was not aware of the real-life problems or opportunities & was living in the Reel world of TV serials.

As we grow up, we are given a lot of opportunities in our life to learn & grow. One such opportunity is Sharktankindia.

The younger generation is so blessed to have access to the internet to learn about pitching, investors, different business ideas, startups, their functioning, etc. which was not available when we were in schools/colleges. & for those who cannot afford the internet or are not connected with this virtual world, Sharktankindia has given them the opportunity to learn through Indian Television itself.

Also, the concepts/Lesson of the day by the Sharks is the bonus for those who watch till the end.

I am really thankful to for starting this show & want you to make many seasons of the same.

What are your views about the show? Let me know in the comment section below.

.in .pe

Why always finance topic need to be serious!!!

Get ready for some funny meme about finances every Saturday!!

Don't forget to share it with your family & friend who are looking for safest investment options & don't want k "unke paise Dub Jaye".

For a fresher in the early ’20s, A credit card is the only way to build up a credit score.

A credit score helps to make your reputation in front of the bank so that they are satisfied with the fact that you will pay up the loan on time. Pay the full bill amount of the credit card, not the minimum amount & see the difference.

Don’t use a credit card as a loan, in fact, use it as a tool to build your reputation ( Credit Score) by paying the full amount of bill every month.

Learn finance basics so that your future self will be very proud of you.

Don’t forget to save & share this post who needs this reminder!!!

After seeing me & my posts lot of you might have this thing in your mind, “Nikita, you always talk about money, but what’s is your relationship with money? how you are handling your money? what is money according to you?

I got you, guys!! So today going to share about my relationship with money.

First of all let me clear this with you, I am very kanjus, kanjus means literally very kanjus. If I have to spend on myself, I never do it. I never bought make-up for myself( Even though I don't have much & don’t use it also) all are gifted in my marriage (5 yrs down), I never buy expensive bags, shoes even think twice for going out kyunki “Faltu k paise lag jayenge”. Strange n!! You can call me an old lady (mummy type) jo har chiz me paise calculate krke kharch krti h😅

But one thing on which I am very clear is that money plays an important part in your life, your financial status, your decisions everything. You just can’t ignore the fact that you will succeed in your life if you don't know how to manage your money. I want my Saachi also to learn about money management very early in her life so that she can take her money decisions independently.

Money is a tool that helps you to make your time free so that you can spend it wherever you want. You don’t have to think twice about where to spend or think that what will happen if I stop working now!! Try to work hard in your early year of life & manage your money properly so that you can be financially independent soon.

I have lot to say but post bahot lamba ho jayega. Will continue in next sunday’s post!! Till then, tell me what’s your relationship with money in the comments, I will love to know!!!!

❤️ 💪