Freelance vs. Full-Time Job Budget Comparison

Income Type:

Salary Hourly

$Annual Salary:

Gross Annual: $0

Gross Monthly: $0

$Other Fixed Monthly Deductions (from paycheck - e.g., health insurance, retirement):

Estimated Overall Income Tax Rate (%):

$Average Hourly Rate:

Average Billable Hours per Month:

Gross Monthly: $0

Gross Annual: $0

$Software/Tools/Subscriptions:

$Office Space (Rent/Co-working/Home Office Portion):

$Marketing & Advertising:

$Professional Fees (Accountant, Lawyer - monthly average):

$Communication (Internet, Phone - business portion):

$Other Business Expenses (Supplies, Travel, etc.):

Total Monthly Business Expenses: $0

Estimated Overall Income Tax Rate (% on Net Profit):

Hint: This rate may need to be higher than an employee's to account for self-employment/business profit taxes. Consult a tax advisor for accuracy.

$Other Fixed Monthly Personal Deductions (e.g., personal health insurance bought directly):

These expenses are for your personal budget and will be applied to both scenarios after determining net income.

$Housing (Rent/Mortgage):

$Utilities (Elec, Water, Gas, Internet):

$Transportation (Fuel, Public Transport):

$Food/Groceries:

$Healthcare (Out-of-pocket, not deducted elsewhere):

$Personal Spending (Entertainment, Hobbies):

$Debt Payments (Loans, Credit Cards):

$Planned Monthly Savings Contribution:

Total Common Personal Monthly Expenses: $0

Please fill in the details in the previous tabs to see the comparison.