As a self-employed freelancer, it’s vital you use your time wisely, find ways to be more productive and spend money on things that matter.
So why is it when it comes to accepting payments virtually, we let online payment systems rob us of our hard-earned income?
Sites like Paypal, charge anywhere from 2% – 6% to accept payments from clients using their service. And since this is the most widely accepted form of online payment, most clients request it.
After realizing I was tired of giving up my money to pay fees, I started looking for other options. I found a simple hack that will save you hundreds — yes, hundreds — of dollars in invoicing fees as a freelancer.
How to Avoid High Invoice Payment Fees
Freshbooks is an invoicing system I’ve been using for over a year now, and there are multiple reasons I love it.
Among the many features, are time tracking, creating estimates, and sending professional invoices to clients.
But it also has a REALLY cool money-saving feature specifically for people who run their own business.
By clicking the “business” Paypal payment option when creating an invoice, you’ll only be charged $0.50 per transaction — no matter how large your invoice.
Instantly Give Yourself a Raise
If you’re a solopreneur, who relies on client work to make a living and brings in $5,000 a month, you could be wasting over $300 in Paypal fees.
In comparison to just a few dollars you’d pay using this feature. This is a calculation I did for myself, before I started using Freshbooks.
I know one small business owner who use this service to save over $1,500 a year in fees!
With this simple feature — using a program that’s totally free no less — you can instantly give yourself a raise! Now you’ll be spending less time working and more time doing other more important things on your list of priorities.
If you’re still paying high invoicing fees through Paypal, sign up to use Freshbooks and use this simple back to keep more of your hard-earned money!