The Pros and Cons Of Becoming a Freelancer

The Pros and Cons Of Becoming a Freelancer

This gives freelancers the opportunity to take up more work and make more money. The best advantage of freelancing is that one can work from anywhere in the world provided they have a stable internet connection. Freelancing offers the benefits of working from any location that brings a sense of calm and increases efficiency.

pros and cons of freelancing

Day by day many people are becoming a freelancer to enjoy their life and to be free. There are so many things which you can explore as a freelancer. This is the era of online marketing and everything is moving into digital so it’s our time to change. As a freelancer, you get the opportunity to work from your own space. You just need a good smartphone and a laptop or PC and an in-demand skillset to become a freelancer. If you have a skill or solution that you can sell in the marketplace you are all set to go.

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As discussed above, as a freelancer, you’re generally not guaranteed a steady stream of work, and it’s common for your income to fluctuate considerably. For me, one of the greatest disadvantages of being a freelance writer is the lack of financial stability. As an employee, you typically get paid every month, on the same day, often the same amount. This makes it easier to plan financially as you have a predictable income. Being a freelance writer can open up opportunities for networking with people across a wide range of sectors.

  • Like any job, freelance work has pros and cons too, which is why the opinions are divided.
  • I’m so much more motivated knowing that I have total agency over what I do and where my career takes me.
  • When you’re a full-time employee in the US, you pay half of that and your employer pays the other half, but when you’re self-employed, you’re paying both halves.
  • This lack of stability can be tough, especially if you have financial commitments such as rent, a mortgage, bills, or childcare costs to pay.

This widens their horizons and also allows them to learn and evolve. Follow enough freelancers on social media, and you will quickly start to notice how common the problem of late payments really is. This means it can be hard to manage your personal finances, such as rent or mortgage payments, as you can’t guarantee exactly when your money will come in. If the combined income from your day job and your freelance work exceeds the tax-free personal allowance of £12,570, you will need to declare it to HMRC. Some freelancers may choose to set up a limited company, rather than operate as a sole trader. If you decide you’re interested in starting a freelance career, I recommend using Upwork to get started.

Pros and cons of freelancing: 10 things to consider

You really have to be extra careful when accepting a freelance job or gig. Find out up front how much you are supposed to get paid as well as the method of payment. Too often people get caught doing the work but never seeing the paycheck, or receiving their paycheck late. Being a freelancer means you have to run a one-person business. An employee just has to submit his proposals on time, but as a freelancer, you have to plan, schedule, market, everything on your own.

pros and cons of freelancing

Humans are ultimately social animals, and they need people to interact with. After prolonged WFH, people sometimes wish to isolate themselves from the noise at home. Additionally, what is freelancing by the end of the day, their presence is not felt at home as they don’t want to converse with anyone around. A dress code has to be maintained while one is a full-time employee.

Freelancing also allowed me to envision my ideal home office for working remotely, which is something I never pictured myself doing when I worked full-time in a corporate office. This was one of the biggest differences when transitioning from working full-time as an employee, to freelancing full-time. What we’re talking about below comes from our own experiences having freelanced in a variety of capacities over the last decade or so. Even if one is very careful, they cannot build walls as higher as professionally run companies can. For people who are distracted easily and find it hard to stay self-motivated, freelancing can be a never-ending pit. Poor quality work also means that there can be a dearth of work in the future.

pros and cons of freelancing

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