Many consider becoming a freelancer nowadays. If you are a type of person who prefers working in your pajamas at home with all the time within your dispersal, then this career is great for you. After all, there will be no need to dress up for office and suffer through the horrendous traffic and thick crowd.
However, before you go full time on freelancing, you need to consider some factors.
- Emergency Funds
Now that you are still receiving your salary, you do not feel the desperations of thinking about how you will fund your daily living. Every payday, you just have to wait for your salary from your boss, However, with freelancing, you will not be sure if you will be receiving the same high salary from your next project.
There are times when some freelancers are unable to get new clients yet they have already finished their recent projects. To avoid the desperation and dangers of getting broke you must make sure that you have enough savings to survive while you are pitching to your next potential clients.
- Tax Regulation
Though you are a freelancer, you still have to know if your income is subjected to tax. Tax evasion is a serious case but very avoidable. If you want to prevent any legal problems, you need to take note of when, how, and how much you have to pay your taxes. On the other hand, you can find a company who handle and can process tax for freelancers.
If you already have a family to support, you need to make sure that you can protect them from financial blows should something happen to you. Though insurance is something all are fond of paying, it is a helpful financial tool you will be thankful to have.