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Milestones Funding

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Active Member
Diane S Member Since: Sep 25, 2020
1 of 5

I've started a small job, $150, with a freelancer that will take about a month to do. I want to pay her $20 weekly as she reaches the milestones. When I added the milestone with the $20, it increased my budget column to $300. I thought milestones were all about breaking up the agreed amount in little chunks to motivate the freelancer and thank them for their work so far. Why does it show as an increased budget? Thanks for your help on this!

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Community Guru
Virginia F Member Since: Feb 15, 2016
2 of 5

Diane S wrote:

I've started a small job, $150, with a freelancer that will take about a month to do. I want to pay her $20 weekly as she reaches the milestones. When I added the milestone with the $20, it increased my budget column to $300. I thought milestones were all about breaking up the agreed amount in little chunks to motivate the freelancer and thank them for their work so far. Why does it show as an increased budget? Thanks for your help on this!


Diane,

 

I'm not sure about the budget increase, and I'll flag your post so a mod will come along to help you out. But, you can fully fund the first milestone with the agreed upon entire budget. When the first milestone is reached, you do not have to release the full amout, but rather the first $20. The remaining balance will move to the next milestone and etc. until the final milestone.

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Moderator
Andrea G Moderator Member Since: Jul 7, 2020
3 of 5

Hi Diane,

 

I checked the contract you're referring to and it looks like your first milestone was funded for the whole project at $150, so when adding the following smaller milestones, their amounts were added to the budget.

Active milestones cannot be edited, but as Virginia pointed out, you can release a partial payment to pay your freelancer a smaller amount, and then use the remaining funds in escrow to fund the next milestone and so on.

 

Hope this information is helpful and please let me know if you need any further assistance,

Thanks!

~Andrea
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Active Member
Diane S Member Since: Sep 25, 2020
4 of 5
Thank you! Should I remove the milestones and pay weekly small
amounts, or just keep them and do the same? TIA
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Community Guru
Virginia F Member Since: Feb 15, 2016
5 of 5

Diane S wrote:
Thank you! Should I remove the milestones and pay weekly small
amounts, or just keep them and do the same? TIA

Diane, a fixed rate contract has to use milestones (one or more). Since this job is already set up as a fixed rate job, you should proceed as suggested.

 

Hourly jobs are another option that you may want to consider for your next project.

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