April 12, 2022
Editorial Disclaimer
This content is published for general information and editorial purposes only. It does not constitute financial, investment, or legal advice, nor should it be relied upon as such. Any mention of companies, platforms, or services does not imply endorsement or recommendation. We are not affiliated with, nor do we accept responsibility for, any third-party entities referenced. Financial markets and company circumstances can change rapidly. Readers should perform their own independent research and seek professional advice before making any financial or investment decisions.
Many experienced professionals pick up a freelance contract on the side eventually. Whether its to help out a friend or to try out a new specialty, occasional freelancing is easy to dabble in. However, after a few jobs, a time may come somewhere down the line where your recommendations and jobs are coming in almost more quickly than you can manage.
With all those extra projects, your freelance pay may even start to rival your day job. Working all around the clock to manage two jobs can be exhausting for anyone. So you may begin to ask yourself: should I freelance full time?
While many are attracted to the allure of freelance freedom, there are several important factors to consider before making the leap.
For one, you’ll need to have your finances in order. While you have the ability to make a lot more as a freelancer, you can also very easily make much less than with your day job. You’ll need to have a hefty savings to cover any unexpected dips in income. Plus, any time you may want to take off will no longer be paid. While you may be making more per hour on paper, after paying your own taxes, healthcare, and time off, you may not be getting as much as you think.
You’ll also have to become a master at business operations, from marketing, to accounting, to NDIS software for client management — you’ll do it all. While your skills will grow, you’ll also probably discover you aren’t perfect at everything, and encounter a few road bumps along the way. It can be a stressful experience to pick up all of these skills at once if you aren’t prepared for the challenge.
To help you decide if freelancing full time is right for you, check out this visual by Turbo:
[image source - Photo by Fancycrave.com from Pexels]
Many experienced professionals pick up a freelance contract on the side eventually. Whether its to help out a friend or to try out a new specialty, occasional freelancing is easy to dabble in. However, after a few jobs, a time may come somewhere down the line where your recommendations and jobs are coming in almost more quickly than you can manage.
With all those extra projects, your freelance pay may even start to rival your day job. Working all around the clock to manage two jobs can be exhausting for anyone. So you may begin to ask yourself: should I freelance full time?
While many are attracted to the allure of freelance freedom, there are several important factors to consider before making the leap.
