The podcast is back for 2018! I’ve missed recording these little snippets you can listen to while you’re waiting for the kettle to boil, and this episode is one that’s particularly important for freelancers – invoice payments. How can we speed them up, deal with the late payers and reduce the stress of waiting to be paid? I’ve got three tips up my sleeve for you!
How to listen to The Freelancer’s Teabreak podcast
I now have three ways you can catch the podcast!
Can’t listen to the audio right now? Here’s the TL;DR (or should it be TL;DL?) version:
- Late Payment Fees – the stick approach of charging clients who have gone past the payment deadline without making a payment
- Early payment discount – the carrot approach of offering a small incentive (say, 4% discount off their next invoice) if they pay within a certain timeframe. This works best for me with big clients who tend to have very long payment terms, unless you offer some form of incentive to pay earlier
- Go Cardless Direct Debit – You can now set up direct debits for clients through Go Cardless. This is particularly beneficial if they have the same amount to pay each month. Setting up the direct debit means you know your fee will be paid on a predictable date, and if they’re unhappy about setting one up it could highlight a potential bad payer.
If you’re looking for a template for the late payment fees and early payment discounts, I have one in the Freelance Lifestash!
Crunch Chorus also have some handy templates if you do have to chase payments.