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GOING FREELANCE? 4 THINGS TO THINK ABOUT

Many people want that ideal work and life balance. But yet sometimes the work life can take over dramatically and leave you feeling pretty deflated. After all, a lot of people don’t enjoy the jobs they have, are fixed to a monthly salary each month, and still don’t get much time in their evenings or weekends to enjoy life. It is a struggle that a lot of people have to deal with on a daily basis.

However, there are options, and becoming a freelancer is one of them. Working for yourself can stabilise that work and life balance, enabling you to pick when you work and who you work with. It can often be an ideal solution to your career woes. But, it shouldn’t be a decision you take lightly. With that in mind, here are some of the things you should consider if you are thinking about taking the plunge into the freelance world.

1. Is there a market for what you offer?

One of the first things to consider will be if there is a market for what you want to do. It would be highly recommended to look at the skills you want to utilise when it comes to freelancing. Can you write and create good content? Are you a real whizz at social media? Do you have excellent administration skills that could be put to good use remotely? Can you create websites or design logos and branding? Some of these areas are highly sought after.

2. How can you obtain work?

It can be very daunting setting foot into the freelance world, so understand some of the methods you can utilise to get your business off on the right track. Get in touch with old contacts and work colleagues, create social media accounts based on your expertise, and check out freelance websites like people per hour or freelancer. This can often be a great grounding to get you started.

3. What about all the paperwork and tax payments?

There will be, understandably, a lot of paperwork to process as it is solely your responsibility to make sure invoices are being paid and you keep your tax records up to date. However, you can enlist the help of accountants to ensure your paperwork is up to date and you pay the right amount in tax. It gives you the chance to do a self assessment return correctly. They will scrutinise your receipt and records to ensure that you are paying out the right amount, as well as keeping good records for yourself.

4. Can you afford it if things aren’t going well?

One of the biggest questions to ask yourself is whether you can afford to take the plunge. It is risky going freelance as there is no guaranteed income coming into your bank every month. The best piece of advice is to look at your statement of bills and work out if you can afford to pay them if you don’t secure any work for a month. This is when having a secondary income could become helpful and take some of the pressure away.

Let’s hope these tips help you take that plunge into freelance work and create a better work/life balance.

Going Freelance? 4 Things to Think About