Why do a third of freelance journalists need state benefits?

 In General

New research from The National Council for the Training of Journalists (NCTJ) has found that 36% of freelance journalists are claiming some form of state benefit or tax credit.

This is compared to just 17% of full-time journalists.

Among the most frequently cited reasons for claiming state benefits or tax credits was clients’ propensity to pay late, or submit an incorrect amount. This had the potential to:

  • Leave freelance journalists out of pocket
  • Demand significant additional time for chasing payments
  • Strain relations with valued clients

Government data suggests that the total number of journalists in the UK has risen from 64,000 in 2015 to 84,000. The NCTJ surveyed 621 freelance journalists in order to complete its survey.

How can freelance journalists better manage their money?

By using advanced accountancy software, such as Xero, these journalists can keep on top of their payments.

By adopting advanced accountancy software, freelance journalists can:

  • Create invoices with convenient online payment options
  • Dispatch invoices and payments automatically to defined timescales
  • Log when an invoice has been paid and add this data to overall cash-flow predictions

In this way, freelancers can stay in better control of their finances while also spending less time on administration. This technique plugs any financial holes and leaves more time for paid work, helping to end reliance on state benefits and tax credits.

Call on 3 Wise Bears for more expert accountancy tips for freelance journalists.

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