Many of us daydream of doing what we love, and doing what we loved from the comfort of our home. Being a freelance worker can be a difficult task as consistency is often fleeting, but if you truly want to follow your passion as a freelancer, there are ways.
Whether the 9-5 at a cubicle just doesn’t do it for you, or it’s hard to do what you love in an office, the benefits to being a freelance worker are there. You get to set your schedule, you are your own business, you work from wherever whenever, you have more income potential and you can take advantage of more tax deductions. Need I say more?
Here are some tips to becoming that successful freelancer:
1. Emergency fund: It’s important as you head out on your own to have confidence in yourself, but an exit strategy or backup plan never hurts. Make sure you have an emergency fund that could cover at least 6 months without pay.
2. Embrace uncertainty: If you are afraid of change or don’t do well on the fly, perhaps freelance work is not for you. Be willing to be patient and persistent on this new journey. Roll with the punches, be prepared for change around every corner.
3. Backup your backups: Make sure you have an external hard drive, or maybe a couple, to ensure the essentials are not lost.
4. Learn more about technology: Be as up-to-date on technology and troubleshooting as possible so you don’t have to spend extra money on hiring someone else to fix issues for you.
5. Business cards are your best friend: There are a bevy of sites you can make cheap and classy business cards on these days. Make sure you utilize them and use them as a networking tool.
6. Health insurance planning: You won’t be covered by an employer (bummer). So, that means you have to plan for which health insurance plan you want, and be prepared to pay much much more out of pocket.
7. Open an IRA or solo 401k: Don’t stop saving for your future just because you don’t have an employer to set it up for you.
8. Find the right tax advisor: Find a tax advisor that specializes or understands freelance work to better assist you on what types of deductions you can receive.
9. Enjoy yourself!: Have some fun! You took a leap of faith and invested in yourself…don’t work too hard, enjoy the ride!
