How To Take Holiday If You Are Self-Employed

One of the hardest things for someone who is self-employed is to figure out how to take holidays.

When you are employed by someone else, these come as standard. It’s the law.

But when you are self-employed all of your income depends on you. If you take a holiday you must give up your earnings.

The weight of that responsibility can leave you feeling like you can’t take a break at all. With bills to pay, food to buy and often family to support – how exactly can anyone who is self-employed take holidays?

We’ve got three solutions for you to weigh up before the summer months arrive:


3 Solutions To Take Holiday Time Off


Solution 1: Take The Financial Hit

 

The obvious choice is to simply take the financial hit. It’s not a great decision, and shouldn’t be taken lightly.

If you need every penny of your income to make ends meet, then we’d strongly advise you to consider this thoroughly.

However, by making small savings over time you could get in a position where you could take the financial hit from not working for a week and take some time off.

With this solution, there is also the added risk of losing work. If you’ve had to say no to working for someone, you’ll have to be prepared for them to go elsewhere.


Solution 2: Take The Hit On Your Free Time

 

The second solution is to work for more hours in the day, to bump up your bank balance.

This means working lots of hours, potentially evenings, to cover the cost of leaving work for a period of time. You’ll need to weigh up the strain that this may put on family and friendships.

Inevitably working like this will cause you to need a rest, so you need to work out whether you’ll get the rest you need by the end of it all.


Solution 3: Outsource Your Work

 

Have a think about whether there is someone that you could pass your work off to for the time that you are away.

You would obviously have to trust this person and spend time showing them how you perform your tasks, but there is the potential for this solution to lead to a long-term fix.

Perhaps it’s not feasible to pass over the main bulk of your work, but other tasks such as admin, invoices, your bookkeeping and financials could be outsourced to a friend or business.

This would free you up to make more income in the day and afford to take the time off in the future.

To outsource your bookkeeping and financials check out DH Business Support’s services page here.

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