Make Sure to Trim Your Taxes. Nobody likes paying taxes, but they are an important aspect of any financial plan. Even if you don't make much money, you might be surprised to learn how certain tax strategies and decisions can impact your finances. Learning how to minimize the impact that taxes have on your finances can ensure that more money is going into your pocket and being put to use towards your financial goals.
Just remember that being self_employed means that you must also pay the self_employment tax, so include this in your calculations. The self_employment tax is double what you would pay in Medicare and Social Security taxes if you were employed.