Congratulations鈥 you did it! You鈥檙e living that side hustle life, nowhere near a cubicle, and we couldn鈥檛 be prouder. ICYMI, you鈥檙e part of a growing community of women who are out there embracing their passion projects and pursuing an income outside of traditional models. Bosses everywhere are taking on multiple part-time jobs, running their own small businesses, getting in on platforms that allow users to crowdsource their to-do lists, or freelancing for several clients. This is the gig economy at work, and there are a ton of benefits to the flexibility and creativity it enables.

That being said, it鈥檚 not all fun and games. Without the security of corporate benefits or a reliable retirement plan, trailblazing side hustlers are up against plenty of other financial challenges. If you鈥檙e already part of this world, you know the struggle is real.

But take heart: 鈥淓mployer benefits are not the only path to financial security,鈥 says Sheila Gugliuzza, a Chicago-based wealth management adviser with TIAA. 鈥淧lanning ahead, knowing what you owe, and taking advantage of saving tools can help contract or part-time workers have a successful journey toward their long-term financial goals.鈥 Learn more about how you can meet your money goals 鈥 regardless of how you choose to hustle 鈥 from the five tips below.

1. Maintain three to six months of savings in your account. 鈥淎s a contractor or part-time worker, your income will tend to ebb and flow,鈥 Gugliuzza says. 鈥淗aving an emergency fund with enough savings to cover three to six months鈥 worth of your critical expenses can help ensure you can pay your bills, even during times of low employment.鈥 Figure out what this necessary dollar amount is and make sure your bank account is ready to go before you take the full leap into the gig economy.

2. Keep a handle on your debts. As part of the gig economy, you鈥檙e still responsible for paying taxes on what you earn, and bad news: You don鈥檛 have an in-house HR or accounting department to make that happen for you. 鈥淚f you鈥檙e doing contract work and don鈥檛 want taxes withheld from your pay, you鈥檒l need to make quarterly estimated state and federal tax payments,鈥 Gugliuzza says. You鈥檒l save yourself a lot of stress come tax time if you are careful to put away a portion of each payment you receive and flag it as a tax payment before you accidentally spend it. Consider reaching out to a professional now to walk you through the specifics of the tax code in the area where you live.

3. Understand how much you need to save. While you may be feeling somewhat removed from your pals who are working in more traditional jobs (go on with your bad self!), the truth is that many of your financial needs are still the same as theirs. Take some time to establish some goals for what you鈥檒l need to save for retirement or other long-term goals. There are plenty of tools and calculators available online to help you crunch these crucial numbers on your own.

4. Investigate investment opportunities. You can still take advantage of investment opportunities, even if you鈥檙e not working in a traditional full-time job. A 529 college savings plan can help you stash away funds to further your own education (and is a good way to save for your children鈥檚 future tuition as well). You should also do your homework on IRAs, which can help you grow your retirement nest egg so you鈥檒l be sittin鈥 pretty when the time comes for you to quit that side hustle life. There are a lot of misconceptions out there about IRAs 鈥 for one thing, that you need to work a corporate nine-to-five to invest in one 鈥 so be sure to do your research!

5. Seek expert advice. There鈥檚 no shame in asking for help, especially if you鈥檙e new to working in the gig economy. A financial or business adviser will be able to help you figure out what your specific goals are, and they can help you put together a plan to make them happen. An action plan like this should make it a whole lot easier for you to follow through on the other four tips 鈥 and to do it effectively.

What tips do you have for having a side hustle? Tweet us @BritandCo!

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