Plan B is to have savings to cover the unforeseen:
When considering a contract offered by an agency or end client direct, you must feel confident that
your work, when invoiced, will actually get paid. You could have a fantastic rate and work for say 3
months, submitting monthly invoices payable after 90 days, only to find that the agency has gone
bankrupt and you are just one in a long list of non-preferential creditors. 3 months work down the
drain. There are hundreds of other reasons why invoices could be delayed for payment or never get paid,
all of which leave you out of pocket either temporarily or permanently. None of you would implement a
business system for a client without some sort of redundancy planning so why think any other way for
your own personal finances! As high income professionals, you freelance Consultants are amongst the
most highly educated clients that any business could have.