Freelancing is a wonderful way to be your own boss, without the hassle of commuting and sitting in a stuffy office. You can start up your own career without adhering to many rules. Of course, like with most new things it can be daunting and unfamiliar, it can be a gamble but most are worth taking the risk for. It’s always best to see how it can benefit and reward you long term. But before you dive in weigh up the pros and cons beforehand.
Pro’s
Decide your own work hours
The most common and popular reason for becoming self-employed is the enjoyment of setting up your own hours. Freelancing gives you lots of flexibility to how you arrange your working time, you can take an afternoon off or decide to work evenings instead. Setting a framework that works for you can make you more productive and happy.
More time with family
This is particularly good if you’re a working stay at home parent, parents can be made to feel guilty for working away from home. Working from home won’t mean you’re with the family all day. However, if it’s a sunny day you can choose to take the children to the park for some personal time. Being at home dictates how you fit family life around your work, but able to put the children to bed instead of stuck in traffic.
Work in the comfort of your home
Every business is well connected using mobiles, computers and internet connection. If you fancy working in your pajamas, the local coffee shop or somewhere peaceful outside it can now be done. Creating your own personalized office in your home space allows you to work in peace, in your slippers and not having to worry about a work uniform.
Fulfilling A Dream
Being a freelancer allows you to work on a variety of fun and exciting projects, each day you can work with new clients. The ability to work in multiple niches is also great for increasing your pay. You don’t have to be tied to one company, and have the creative freedom to work remotely.
Con’s
Timekeeping instead of earning
Having time off can worry you, as you won’t be earning any money. You feel you’re letting clients down by having time off and not committing to work. The worry can manifest into guilt, which can lead you to working more hours than usual. It’s crucial to know when to switch off after the working day, particularly when working from home. Setting work times, lunches and breaks are important to keeping as close to a routine as possible.
Doing your own taxes
Freelancing means sorting your own invoices as well as following tax regulations for self-employment. It can be a big step for some who aren’t familiar with the process. Professional help is the best option through qualified expert Joe Callahan the tax lawyer. With over 30 years’ experience having someone on board can take the worry out of filing incorrect paperwork and ending up with unwanted tax fines.
No Sick pay, benefits or holiday pay
Choosing a sick day isn’t necessarily an option, if you have projects you can try and work from bed. But the reality is you can’t afford to be sick, you must develop a backup plan if you are unable to meet deadlines due to sickness. The same applies for holidays, freelancing allows you to take time off without permission from anyone. The only issue is unlike other people you won’t be paid. Setting aside monthly budgets for upcoming holidays will keep you balanced financially.
Fear Of Income
If you’re used to weekly or monthly income be prepared for the instability of money that comes with freelancing. Being self-employed it’s up to you to find your own clients, and how that money can be sustained each month. You oversee setting your hourly rates as well as negotiation on work. Like most things in life we must take the good with the bad, it’s up to you to weigh up if self-employment really is for you. It’s important to go in with all the facts and seeing how freelancing can benefit you. After all it’s what makes you happier and gets you out of a job you dislike. Take the plunge and if it doesn’t go according to plan be proud you were brave enough to face the fear and commit to the idea.
