Personal finances and freelance work in the same bank account: the mistake that costs you money and time
When someone starts freelancing for the first time, there’s a decision almost nobody makes consciously: whether to open a separate bank account for business, or just use the one they already have.
Most people go with the second option. It’s the easiest thing to do. Just to get started, to try things out, to keep it simple. And for the first few months, it works well enough.
The problem comes later. When it’s time to file your quarterly taxes, when your accountant asks for invoices, when you try to figure out how much money you’re actually making as a freelancer. That’s when having everything mixed together turns into a financial archaeology project nobody enjoys.
