If holidays are coming, don’t be shocked if your invoices aren’t paid on time.

Be prepared.

Holidays can affect the flow of money and make people less concerned about paying their invoices.

This is something I’ve learned firsthand.

Oops, We Forgot To Pay You

In one case, a week after New Year’s I received an email saying a payment I should have received at the end of December was “going to be” mailed that following Friday.

The email blamed the delay on the holidays, and more specifically, on the number of people in accounting who had taken off.

Basically, the company’s employees were just as wrapped up in the holidays as everyone else, and paying freelance invoices wasn’t on anyone’s list of priorities.

Do You Realize: Invoices Aren’t The Same As Money

Once the holidays were in the rear view and people were taking work seriously again, someone decided to get around to paying me.

But clearly, there was no sense of urgency and no genuine concern about the problems that late payment could have caused me.

By the time I received the money, it was nearly two weeks later than usual.

And that’s not the only time the holidays have caused my payments to be delayed. So, now it doesn’t catch me off guard or create a financial crisis.

Don’t Set Yourself Up

After the 1st of the year or around any other major holiday, a lot of people are barely hanging on, and they’re desperate to get what they’re owed.

You’ll find freelancers  waiting on money to pay rent, a car payment, credit card bills, whatever. But by the time they get it, the grace periods for late payments will be gone bye-bye.

So, they’ll either need to scratch up the funds from somewhere else or slice off a larger portion of those delayed checks to pay late fees and interest.

And if they’re like me, that’s painful situation because I hate to borrow, and I damn sure hate to pay even a cent for additional interest and late fees.

A lot of times these financial dilemmas can be avoided.

Too often we place too much faith in our clients, especially when they have a history of paying on time.

That’s an excellent way to get burned.

And, if you do it long enough, you will get burned.

So, I urge freelancers to create a money cushion so they aren’t relying on an incoming payment to make an outgoing payment. Living hand-to-mouth in this business is so dangerous. And holiday seasons increase that danger.

In the U.S., the Thanksgiving to New Year’s stint is our longest, most intense holiday season. But be cautious around other holidays too.

Be aware of occasions that you may not observe but your clients may, such as Jewish holidays or Muslims’ observance of Ramadan.

And, if you have clients in other countries, know what their major holidays are and be aware that they could also cause delays of your money.

Also Read: More Work For More Money Isn’t A Better Rate

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