We’ve all been there. You’re sitting in your cubicle, mindlessly scrolling through social media when you see it. A post from a friend who’s living their best life, traveling the world and working on their passion project. They make it look so easy. But you can’t help but wonder… how do they afford it?
You do some quick math in your head and realize that if you freelance, you could easily make more money than they are. And so the wheels start turning and before you know it, you’re quitting your day job to pursue your dream of being a full-time freelancer. But is that really what’s best for you? Let’s explore the pros and cons of trading in that 9-5 for a life of freelancing.
The Pros of Freelancing
There are definitely some perks to being a freelancer that you don’t get when working a traditional job. For starters, you have a lot more control over your time. When you’re working for yourself, you can generally set your own hours and take time off as needed without having to go through the hassle of getting permission from a boss or using up all your vacation days.
Another plus side to freelancing is that you get to choose who you work with. If you’re tired of dealing with difficult clients or managers, as a freelancer, you can pick and choose the projects you want to work on and the people you want to work with. That autonomy can be very empowering and make for a much more pleasant work experience overall.
Lastly, when you’re self-employed, you get to pocket 100% of the profits instead of sharing them with a company. So if business is booming, you get to reap all the rewards instead of just seeing a small percentage show up in your paycheck at the end of each month.
The Cons of Freelancing
But as they say, there’s always two sides to every coin. And while there are some definite advantages to being self-employed, there are also some challenges that come along with it. One big downside is that when you’re freelancing, there’s no safety net if things go wrong.
If you have an emergency and need to take time off or if business slows down and there isn’t as much work available, as a freelancer, you don’t have the same protection as someone who’s employed full-time. In those situations, traditional employees can usually rely on things like sick days or unemployment benefits to help them weather the storm whereas freelancers have to fend for themselves.
Additionally, when you work for yourself, there’s no one else to lean on for support or help when things get tough. If something goes wrong or if you’re feeling overwhelmed, as a freelancer, you have to be able to troubleshoot the problem on your own without any assistance from HR or a manager.
And finally, because freelancers generally don’t have access to things like pensions or health insurance through their employers (unless they purchase it themselves), they typically miss out on those important benefits that can help them save for retirement or protect themselves financially in case of an accident or illness.
🍩 Just the Sprinkles
So is quitting your day job to become a freelancer really worth it? It depends! If having more control over your time and choosing your own projects sounds appealing to you, then freelancing may be the right choice for you. However, if job security and benefits are important to you, then sticking with traditional employment may be the better option. Ultimately, only YOU can decide what’s best for YOU!
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