By an unapologetically frugal freelancer who knows the peso game inside and out
Let’s be real: freelancing in the Philippines is equal parts freedom and financial free fall. One minute, you’re invoicing clients from three continents, and the next, you’re asking yourself, “Wait, did I really forget to send that invoice again?”
As a full-time freelancer based in Leyte, juggling clients, deadlines, and domestic life, I’ve learned that one thing separates the thriving from the barely surviving: a monthly finance check-in.
Yes, it’s as unsexy as it sounds—but it’s also the reason I can sleep at night (even if my client’s timezone says it’s Monday morning).
Here’s exactly what I review each month to make sure I get paid, save consistently, and stay—relatively—sane.
Contents
1. Invoices Sent vs. Payments Received
Rule #1 of Freelance Club: Track. Your. Invoices.
Every month, I audit all outgoing invoices and cross-check them with payments received. I use a simple Google Sheet, color-coded for peace of mind (green = paid, red = AWOL, yellow = needs follow-up). Whether you’re getting paid via PayPal, Payoneer, Wise, GCash, or direct bank transfer, make sure you check those logs too.
Data flash: According to PayPal’s Freelancer Insights Report, 58% of Filipino freelancers have had clients delay payment beyond 30 days. Don’t be part of that statistic.
And let’s be honest—many of us Pinoys feel shy or even embarrassed to follow up on unpaid invoices. Culturally, we’re raised to be polite, non-confrontational, and “mahiyain,” especially when talking about money. But here’s your permission slip: you’re not being rude—you’re being responsible.
Pro tip: Draft a go-to follow-up message you can reuse. “Hi, just following up on this invoice—let me know if you need anything from me to process it” sounds polite but firm. No drama, just business.
2. Expenses That Sneak In Like Ninjas
Subscriptions. Upwork connects. Canva Pro. Lazada “work-from-home must-haves.”
Every 30 days, I tally up recurring expenses and evaluate what’s truly essential. Do I need both Notion and Trello? Am I still watching that one ₱149 monthly YouTube Premium I forgot I signed up for during a trial?
Even as a frugal freelancer, it’s easy to overspend on tools in the name of “productivity.”
💡 Quick hack: Use tools like Moneygment or your bank’s expense tracker to auto-categorize your spending. Or do it manually—whatever helps you face the numbers.
3. Income Breakdown: Which Clients Pay the Best (and Worst)
Not all pesos are created equal. One client might pay $15/hr and respect boundaries; another pays ₱10,000 for 20 pages and sends you revision notes at 11 PM.
I review:
- Total income by client
- Time spent vs. revenue earned
- Red flags (scope creep, late payments, energy drain)
This helps me trim the fat and make space for better-paying, aligned work.
🧠 Freelancer tip: Your most “loyal” client might also be your most underpaying one. Loyalty doesn’t pay bills.
4. Savings and Emergency Fund Check
This is the part freelancers love to avoid.
But whether you’re saving for a rainy day or just the next client ghosting, you need to check your savings.
I use the 50-30-20 method with a twist:
- 50% needs
- 30% goals (debt, business tools, family needs)
- 20% “kalma fund” (a.k.a. my emergency + mental health savings)
Even if I can only save ₱500 that month, it’s non-negotiable.
According to Bangko Sentral ng Pilipinas, only 1 in 3 Filipino adults has a savings account. As freelancers, we’re on our own—no SSS pension, no employer HMO. So build that buffer, kahit paunti-unti.
5. Mental Load and Boundaries Audit
Freelancing is 80% mental and 20% caffeine.
Every month, I ask myself:
- Did I overwork?
- Did I take on clients that drained me?
- Did I rest without guilt?
No spreadsheet here—just a brutally honest self-check-in. Because no amount of income is worth burnout. If I’m not protecting my energy, I’m already losing.
Final Thoughts: Clarity is Currency
This monthly ritual keeps me grounded. I’ve seen what happens when I skip it—stress builds, payments get missed, and I end up saying yes to gigs I should’ve run away from.
Freelancing is freedom, yes—but only when you run your finances like a real business.
Your Monthly Money Move Starts Here
If you’re a fellow freelancer—Filipino or not—start your own monthly finance check-in today. You don’t need fancy tools or MBA-level accounting skills. You just need to start.
Stay paid. Stay smart. Stay sane.
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