While there are some advantages of working freelance from home, I would like to mention some of its disadvantages.
Some say that freelancing is not for the faint of heart. Irregular income, loneliness and the lack of benefits are just some of the reasons why others leave and go back to their jobs.
Here are some of the things that you might want to take into consideration before you quit your day job.
Freelancing, especially when you’re just starting can be rocky. It could be unstable. Some jobs are for the long term while others are only a short time. Clearly, this is a disadvantage.
What can you do: Don’t quit your day job yet. Save up an emergency fund for eight months. While you are working, get a freelancing job. Juggle it, and when it becomes stable, you can resign. You can also increase your sources of income. As I mentioned, you can work with one or more clients. So if one leaves, it would not be so much big of a deal.
Working from home or freelancing can make you feel isolated and alone. Sometimes, it felt like there is no boundary anymore. I sleep, work, and eat in my room. When you are an employee, and you are bored, you can go to next cubicle and talk with your workmate. But when you are working from home, there’s no one you can talk to at least, in person.
You can set the time to go out like once or twice a week or whenever you are free. Stay social with your friends, eat lunch, have coffee.
Unlike being an employee, you don’t have the benefits of working for a company such as having a health insurance or a retirement plan.
As a freelancer, you are fully responsible for your earnings and how you save up to secure your future. Learn to budget and allocate your money so you could get a retirement plan and a life insurance.
Some insurance companies like SSS and Philam Life offers plans for freelancers. All you have to do is inquire so you could set aside money and provide health and life insurance for yourself.
That’s all folks! Have you decided yet? I know that it isn’t easy especially if you have other responsibilities other than yourself.
Even if there are some serious disadvantages, you can still try because like in any endeavor, if there’s a will, there is a way!