11 tips for managing your time and money as an independent contractor

  • To make it as an independent contractor, you must budget, create money "cushions," invest in the right tools and find sources of money (clients or leads) that are relatively reliable.
  • Calendars, time-blocking and understanding exactly what your time is worth are other critical tools and skills for independent contractors.

Leaving a relatively decent full-time office job to work independently was probably the hardest professional decision I’ve ever made. Although I have no regrets, I admittedly did not know what I was getting myself into. Our most recent Special Report dug into the reasons why the failure rate for new real estate agents is so high, and more than three-quarters of respondents (77.39 percent) said that new agents fail at least in part because they are unprepared for the realities of working as an independent contractor.