The Thing About Money: Rethinking the Freelancer Money Mindset

The thing about money is…

Money takes up more space in freelancing than most of us like to admit. It decides whether you keep going, whether your work feels valued, and how much stability you actually have. But money is not the whole story.

It’s easy to measure. You can track invoices, overdue bills, quarterly BAS statements. That measurability gives money power. But just because we can measure money doesn’t mean it’s the only way to measure value.

Earning well doesn’t always mean you’re good at your job. Sometimes it just means you’ve learned how to market yourself, land higher-paying clients, or negotiate harder. Those skills are useful, but they are not the same thing as doing excellent creative or technical work.

Money makes life easier because we live in a system that overvalues it. But for freelancers, that system comes with gaps. You don’t get paid leave, superannuation unless you ask for it- which you should be!), or sick days unless you build those in yourself. Cash flow issues are common. Almost 1 in 4 Australian freelancers wait more than a month to be paid.

How you feel about money is shaped by more than numbers. Early experiences, family values, education, privilege, even whether you started freelancing by choice or by redundancy, all influence how confident you feel charging your worth. That personal history shapes whether you chase unpaid invoices, raise rates, or keep discounting.

And exposure to wealth matters too. If your clients are corporate and earning six figures, you may assume that’s normal. But recruitment sites and pay rate reports state the average Australian freelancer earns about $30–40 an hour, and many report inconsistent income. That disconnect can make you feel you’re “behind” when you’re actually right in line with the market. We also use money to judge ourselves and others. “They’re expensive, they must be good.” “They charge less, they must be struggling.” None of that really tells you the person in front of you. Money doesn’t make someone more moral or more talented. It just gives them more options to live by their own values. High rates are not the same as quality. A $150/hr copywriter isn’t automatically better than the $80/hr one. The difference may be experience, reputation, or simply what they felt brave enough to ask for.

And earning more doesn’t always make freelancing feel better. More clients, more money, but also more stress, admin, pressure. If the way you work doesn’t match your values, money just adds fuel to the fire. Outsourcing comes with its own overheads and extra workload. The hourly rate doesn’t always stack up because of it.

This isn’t only about the rates we charge

Security is not just about money. Plenty of freelancers earning solid incomes still feel insecure because they don’t trust the next client will show up. Meanwhile, someone charging modest rates but working steadily with repeat clients can feel secure. Security is as much about mindset and systems as it is about cash.

Money influences everything: which projects you take, whether you socialise with peers, how confident you feel pitching, and whether you see opportunity or risk. It makes certain sections of freelancing seem like they are way more together because they are fascinated with their financials and can talk candidly about the rates they charge. This creates a confidence crisis when we’re over-exposed to people, who often have privileged backgrounds, are setting a standard of wealth literacy and confidence that isn’t shared by a lot of freelancers.

But at its heart, money is a tool. It flows or it stalls. It helps or it hinders. The real story is how you relate to it.

Charging less than others doesn’t make you more virtuous. It makes your business harder to sustain.

And shaming other freelancers for how they price or spend? That usually says more about your own money mindset than theirs.

Why This Matters for Australian Freelancers

Irregular income is the norm. 47% of self-employed Australians say inconsistent cash flow is their top stressor.

Superannuation gaps are real. Many freelancers don’t contribute regularly, leading to a projected shortfall in retirement savings.

The pay gap persists. Women freelancers still earn around 32% less than men on average across creative industries.

Inflation hurts more when you’re solo. Unlike employees, you can’t count on award rises or minimum wage adjustments — you have to raise your rates yourself.

(Source: I Lost My Gig Australia, Media Arts and Entertainment Alliance, ABS data, 2023–2025)

But More Than That, You Set the Tone

As dramatic as it sounds, every choice a single freelancer makes is a choice we remove for the next freelancer. If we don’t manage our clients expectations well and overwork ourselves, diluting our hourly rate, we set the same standard for the next freelance project.

If we do work on the smell of an oily rag and are afraid to price with margins and profitability in mind, we make it harder for the next freelancer to charge well. Or if we overcharge, we make the freelance industry look uncompetitive against eBidding websites and agencies.

Or if we wait until we’re at breaking point to chase payments before cursing clients out online or if we spend out time talking about our own wealth creation rather than the value we provide to the client, how are we positioning the industry as a whole?

How we behave around money or talk about it publicly doesn’t only reflect our own foibles and failures. It sets the industry tone.

What You Can Do to Shift Your Relationship With Money

• Audit your numbers. Know your baseline: how much you need each month, how much you actually earn, and how often you get paid late. Awareness is power.
• Price for sustainability. Build in super, leave, tax. Stop treating them as extras.
• Practice asking. Whether it’s a rate rise, deposits, or on-time payment. Freelancers often avoid hard conversations — but they’re the ones that change your bottom line.
• Detach worth from rates. Higher or lower rates don’t define your skill. They reflect confidence, negotiation, and positioning.
• Balance enough with growth. Know when you have enough, and when it’s time to grow. Both are valid.
• Know your money mindset. Where has it come from? How does it serve you? What needs to improve?

Let’s Open the Door to a Proper Conversation about Money Mindset

Let’s start with 3 simple questions:

1. What do you believe it would take to improve the overall financial literacy of Australian freelancers?
2. How do you challenge your own freelance money mindset?
3. Where do you need the most help and support?

Let’s see what we can do about improving the Australian freelancer money mindset for the good of all of us!