Working as a freelancer can be one of the most exhilarating experiences of a person’s life. You are essentially jumping off the deep end, out of the stuffy corporate world, and away from a steady paycheck. While this can be an ultimate life goal for anyone with an entrepreneurial spirit, freelancing is not always the answer when craving a change in your life. The day to day of a freelancer varies greatly, depending on the industry they are in, so take into consideration that the schedule you envision for yourself may not always come to fruition.
So, thinking about quitting that day job and entering the exciting world of freelancers? Read on to compare pros and cons to see if this job title is as forgiving as you envision it to be.
Pros of freelancing:
Flexibility. You cannot deny that being a freelancer is one of the most, if not the most, flexible gigs out there. The next best thing would be not working at all. Most freelancers can work from wherever, whenever they choose. Getting cabin fever from working in your home office? Hit the local café to connect to Wi-Fi and work on.
You’re the boss. As a freelancer, you call the shots. As a business owner, you can work with the clients you want to and turn away those that don’t fit your fancy. Need some time off? Schedule work, calls, etc. around the getaway. Easy-peezy.
Unlimited income potential. Ready to hustle? Freelancers can take on as many projects as they want, earning as much money as they please. Work all day or all night to hit deadlines, then invoice clients to get paid. Take on more work when you need that extra money and have the time to do so. Who doesn’t love being financially stable?
No commutes, no stuffy suits. Always hated the workplace uniform that just wasn’t your style? As a freelancer, suits, uniforms, and office politics are a thing of the past. Now, you wake up and start working. No jumping in the car only to sit in an hour of traffic or changing clothes (at all).
Cons of freelancing:
Unsteady paycheck. Can’t fathom not having that direct deposit hit your bank account every Friday? Freelancers get paid per job, and jobs fluctuate. Regular clients may no longer need your services and you will lose that income at the drop of a hat. Having to budget on an irregular income can be a tough gig, too.
Zero benefits. Forget that employer match 401k, health insurance, and paid time off. Business owners who hire freelancers outsource jobs to lower their overhead, which means not providing any benefits. Freelancers have to figure out how to budget and save on their own terms.
Home offices can be distracting, too. The thought of working at home in your pajamas makes most people squeal with delight. The reality? The dishes are piled high in the sink, the dog is barking, and you really want to take a bath right now. Working from home requires discipline that not everyone can muster.
Maybe freelancing isn’t all it’s cracked up to be, but maybe it is exactly what you need right now. If the hustle and bustle of your commute just isn’t cutting it anymore and your 9-5 job makes you want to cry, take a leap off the deep end and dive head first into the crazy, unsteady, but exhilarating world of a freelancer.