Forty billable hours a week
Finding clients and admin take a quarter of the time.
Financial model template
Freelancer financial plan
A freelancer is a business of one. The template bills hours at your rate, deducts tax on income, pays for software and equipment, takes out personal spending and shows how much you really earn and save.
The model answers
- Which hourly rate gives the income you want
- How much tax to set aside each month
- How many months of savings you have for a quiet period
What is inside the template
Each line is a block with plain fields. Change the numbers, delete blocks or add new ones.
- Billable hours × hourly rate
- Tax as a share of income
- Software, equipment and coworking
- Living expenses as owner payouts
- A delayed project fee as one-off income
- Courses and learning
Numbers to watch
- Billable hours
- Not every working hour is paid. Count only the hours you invoice.
- Effective rate
- Income after tax and expenses divided by hours worked.
- Tax reserve
- Set aside the tax every month so the yearly bill is not a surprise.
- Safety cushion
- Months you can live without orders.
Common mistakes in this kind of model
Spending the tax money
Taxes come later than income. Keep them in a separate line.
No vacations
Two or three weeks without income are part of the year.
AI assistant
Check the template against your market
Tell the assistant your city and format. It looks up prices, rent and salaries online, compares them with the template and proposes changes as cards with the effect on profit and cash. You decide what to apply.
Questions
Is FinModel useful for one person?
Yes. A freelancer has the same questions as a company: income, taxes, expenses and a cash reserve.
Can I set my own tax rate?
Yes. The tax block works as a percentage of income or profit with any rate.
Related reading
How to build a financial model for a small business
A step-by-step guide to building a business financial model: revenue drivers, costs, staff, investments, taxes, cash flow and scenarios. With an example and a checklist.
Profit vs cash flow: what is the difference
Why profit and cash flow differ: depreciation, loans, inventory, payment terms, taxes and owner payouts. With examples and how to read both reports together.
Similar templates
Open the freelancer template now
The demo works without sign-up. To save your model, start the free trial.