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When you finish a project for a client, there comes the time for payment. However, invoicing the client does not wire your bank account automatically. The client may be slower than you hope with the payment and that’s why it will be useful for a freelancer to predict such circumstances and motivate the client to pay on time with some trick. The freelance work has it’s disadvantages compared to the 9-to-5 jobs, that’s why as a freelancer you could apply these three tricks in order to make your career a better one.
1. Discounts for future work if your client makes payment on time
You can be the cool dude and offer the client 10% discounts of his next order to you in case he pays his invoice in time. Such an offer is going to last and for sure can motivate the client to be correct with you and wire your bank account on time. The bonus part is the loyalty you will build by giving discount in advance for further interaction.
2. Interest fee
Putting an interest fee clause on your contract with the client may not make you look cool dude as much, but it’s a diplomatic reminder for the client. It is probably better to use this advice only with clients who already have a certain history of delaying payments.
3. Set a deadline
Many freelancers include phrasing in their invoices that sound like “payment due upon receipt”. Lately it was proven that there are more proper phrases to include in the invoice. What will motivate the client to pay on time will rather sound like “Payment due within 7 days” or 5 days, or how much you want it to be. The important things it to give him clear frame of time that he should plan for payment.