Why Freelancing Can Be A Smart Financial Decision

Do you feel a little stuck in your job?

 

Do you have a skill or ability that other people would pay you for?

 

If your answer to both questions is “yes”, you might consider a career as a freelancer.

 

For many people, freelancing is a way of life and a career path that they choose. They decide that they don’t want a boss, they want to work their own hours, and they want more freedom to do what they want and when they want.

 

But you don’t have to go full time immediately.

 

Freelancing can be a smart financial decision, if you want to continue in your current job. It’s an alternate source of income that can help you pay for a new computer or funding a vacation. It’s also a brilliant way to pick up a new skill and practice it, while also building a professional portfolio.

 

Eventually, you may go full-time as a freelancer.

 

In this article, we’ll discuss why freelancing is a smart financial decision, even if you’re not planning to make it a full-time job anytime soon.

If you manage a business and want to increase your productivity, I highly recommend QuickBooks accounting software QuickBooks Online Edition – Free Trial. Read this article to decide if you need the desktop or online version of the software.

More Income?

 

Many people rely on freelancing for their work, but thanks to the ability to work however much you want, it’s also a fantastic way to fill voids in your income or provide extra money for expenses.

 

For instance, you could work just an hour each day after work, or you could work over the weekend for extra money to fund a savings account for emergencies. Essentially, working part-time as a freelancer can help you create a financial safety net.

 

Pays For Itself

 

Whether you go through face-to-face Illustrator training or online courses, the money you pay to acquire skills will easily pay for itself when you start freelancing. This makes freelancing a very quick and affordable way to pick up new skills that can be marketed as a service and eventually used to make money.

 

Future Opportunities

 

One of the biggest problems we face is redundancy. No one wants to lose their job over something trivial, and most people rely on income from a day job. If you lose your main source of income, freelancing allows you to quickly secure more work.

 

Freelancing is a great way to continue making money, even if you lose your job due to unfortunate circumstances. You can build a career out of it, or you could just use it as a second source of income to help you stay afloat before you find another job.

Use online accounting software to dramatically increase your company productivity. Find out more here: QuickBooks Online Edition – Free Trial

Steps to Prepare

 

Before you jump into part-time freelancer work, do your homework. Consider the product or service that you can provide, and the demand in the marketplace. Check with existing companies that offer the same product, and find out how they price their product.

 

Once you do this research, consider the time and expense you’ll incur to market yourself, and the costs related to delivering your product or service. Finally, decide if your proposed price will allow you to earn a reasonable profit on your efforts.

 

With a proper amount of research, part-time freelancing can be a money maker.

 

 

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

Co-Founder: accountinged.com

(email) ken@stltest.net

(website and blog) https://www.accountingaccidentally.com/

(you tube channel) kenboydstl

 

Image: Bullseye, Jeff Turner CC by 2.0