The internet has opened doors to many new income making opportunities for the average person. This means that there are many freelancers out there looking to earn a living on the internet. While it can be quite satisfying to work for yourself, there are some pros and cons of being a freelancer that I’d like to share today.
Pros of Being a Freelancer
Easier to Find Work
Being a freelancer means that you can easily find work whenever you need it. There are many platforms online that you can fill out some questions to create your own freelancer portfolio. This is a way to put your skills and professional resume on the internet to find more work with ease.
When you work for yourself, you can easily set your schedule to work around the best option for your lifestyle. While sure some clients may need specific tasks done at a specific time, you’re able to create an overall flexible schedule that works to enhance your productivity levels.
Tax Deductible Benefits
While different areas have different tax benefits, the overall consensus is that freelancers are able to have better tax-deductible benefits than an employee does. You may be able to use some of your rent or mortgage payment as a deduction, as well as other business expenses you purchase.
Cons of Being a Freelancer
No Rate Guarantee
When you work for an employer you’re protected with a minimum wage law, but as a freelancer, you often get paid on a per project basis which doesn’t always match up to the minimum wage. As a freelancer, you set your own rates whether it’s hourly or per project rates.
No Group Benefits
As a freelancer, it’s up to you to figure out how to get health and dental benefits. There’s no guarantee of group benefits because you are your own boss. This can be a major con for anyone who needs health care or dental coverage to stay healthy.
Working as a freelancer doesn’t guarantee you any form of a weekly paycheck. You literally get paid when you get paid. While this can be a pro because you could make money daily, there are more often times when it’s a con because bills are due on a regular basis whereas pay is irregular as a freelancer.
There you have it, a few pros and cons of being a freelancer. While being a freelancer can encourage you to feel more confident and make more money than any other career arena, it certainly does come with some of its own pros and cons.
Photo Credit: Domenico Loia Simon Hattinga Verschure Simon RaeAlexandru Acea