The word freelancing brings a very relaxing image in the mind of people. Several people though that freelancer’s encounter with easiest form of work. They get privileged by keeping themselves in home; work in their tees in the bedroom with a steaming cup of tea or coffee. It’s a may be a pretty relaxing side of picture and according to someone personality it may also be the best profession for you to indulge in.
But the fact is that being a freelancer is not that simple as it seems. If you are in a field that offers plenty of good freelancing opportunities then before you think of quitting your job, consider the pros and cons of being a freelancer. Just like other things freelancing also has it pros and cons. Here is a list of advantages and disadvantages of freelancing that you will like to consider.
Here are the top reasons why people decide to become full time freelancers:
- You get to decide when you want to work. For many people, working nine to five is not simply good. If you are one of those people who are more efficient during the night time or in early morning, then you can take advantage of working as a freelancer. You get the freedom of adjusting your time and work in the most productive times. If your deadlines allow then you can schedule a nice long lunch with your friends.
- The other advantage of being a freelancer is that you can work anywhere you like. Freelancing these days doesn’t confines you to your home only. Many freelancers like to work in coffee shops or their favorite restaurant. You can also travel from one city to another city without disturbing your schedule.
- You get to be your own boss. You know how this feels, some people just cannot be bossed, for them working as a freelancer is the best option, you don’t have to report to any manager or supervisor. When working as a freelancer you are the in charge yourself, you get to manage your work on your own.
- You get to have more income; there is nothing more disheartening as knowing that your permanent salary is just the 10% of what your employer is charging the client for the project you are working on. Being a freelancer you charge according to the worth of your work and get your bank account full with all the profit.
The other benefits are that being a freelancer you can deduct expenses that private company employees don’t get. Deductions include costs like travel expenses, lunch expense, cell phone expense etc. Also you don’t need to pay taxes begin a freelancer but do pay a visit to a tax expert to discuss how freelancing will effect on paying taxes.
There are some cons of being a freelance too, let me shed light on that so before you consider being a freelancer you should know about the risks involved.
- You must make sure that your salary being a freelancer is more than your previous salary. Many people assume that freelance incomes are higher, but they are wrong, it all depends on how much skillful you are and the per-hour-rate you are charging is justified. Your income depends on which industry you are working in as a freelancer, there are some specific fields in freelancing that earn more and some earn average.
- You have to wear a lot of different hats in freelancing; while you are offering your services to your clients you will find that you have to do other activities too like managing your payments.
- You have to deal with a lot of inconsistent cash flow, as a freelancer you need to pay bills every month, the house rent, buy grocery, and make car payments. With a proper ob you get a paycheck every week but when you are working as a freelancer if you are lucky enough to get few clients with regular work than you will have consistent cash flow. But if your cash flow is inconsistent then you will be worried about mortgage dues.
- You need to be on the watch for more work always, when you are working as a permanent employee you don’t have to worry about work and payment. But in freelancing things work differently you always need to look for more work, so that your pockets are always full.
- The moment you stop working the bucks also stop flowing in. Remember in freelancing clients are too demanding you have to be in constant contact with them and you also need to keep submitting the work before the deadline. If your laptop crashes you need to get it fixed before the deadline gets closer, so keep a backup with everything from an extra laptop to an internet connection.
Working as a freelancer is a life-changing decisions and such decisions shouldn’t be taken lightly. If you feel you are the right kind of person for freelancing then do it but consider these points.
About the author: A fresh fashion graduate, Emma Jenifer is now working as fashion editor at Customstitchers. Constantly in search for new music playlists and updated outfits. When she is not working on her written pieces, you will find her curled up with hot cocoa and a mystery novel. These day when you intended to write mostly cover stories how to get custom dress shirts online.
I would definitely agree on this. Tried freelancing for quite some time before. And also, my sister can be a living testament for being a freelancer (though on a different job).
Pal, what does your sister do? 🙂