Chances are, if you are a creative person with an entrepreneurial spirit, you have thought about working for yourself as an independent contractor. You may have heard the success stories about making oodles of money in your PJs and thought “hey, if she can do it then I can too”.
However, you may have also heard the stories about freelancers being starving artists, jumping through hoops to find clients and being financially stressed. Those horror stories may have caused you to hesitate about taking a leap, but the desire to freelance is still heavy on your heart. I won’t lie to you, freelancing can be financially and emotionally tough, especially in the beginning. However, it can be equally rewarding.
The biggest pro about being a freelancer is that you get to be your own boss. You decide what clients to partner with and which hours to work. That type of freedom can allow you to be more present for your family and your other responsibilities. And, the biggest freelancing-con is the constant ebb and flow of the money you make. You see, there is no set salary when it comes to contracting. Some months the money you make will have you smiling from ear to ear while other months may have you skimming through the Wanted ads.
However, before you throw in the towel on freelancing, you need to give your efforts some time and find ways to save money while your build your clientele.
Ways to Save Money While you Freelance your Way to Financial Freedom:
- Spend less: The most obvious way to save money while trying to make money is to simply spend less. You should clip coupons before you head out to the stores, look for rebates and deals and shop second hand for items such as clothing, home décor, and toys.
- Be more energy efficient: Yes, being green can, in fact save you some green. You can save money on your electricity bill by switching to a different energy company. Visit LocalElectricityCompanies.com, type in your zip code and compare the rates of different local electricity companies. Additionally you can save money by switching to energy star appliances and more efficient light bulbs, using solar chargers and washing your clothing in cold water.
- Downsize: Downsizing doesn’t have to be a bad thing, in fact, letting go of a few “wants” can make you realize that living without them isn’t so tough. Or, downsizing can inspire you to freelance in beast-mode so that you can upsize once again. You can downsize your tv package by getting rid of cable in favor of an online streaming service. You can drive less often and get rid of your landline and switch to a prepaid mobile plan with WIFI-only data.
- Hustle: In the world of freelancing, hustling refers to the act of making extra money while searching for clients and working on projects. Hustling can make the ends meet in the drier months. You can hustle by selling your old usable items on online auction sites or yard sales. You can also micro-task by doing surveys and make a few extra bucks affiliate marketing on a free website that you created.
You should get the hang of freelancing after you have gotten through the first year. By then you will have learned how to better market yourself with your impressive portfolio, and you will know how to better manage your time so that you can work faster and make more money. Do not give up on your self-employment dreams, it might be a financial and emotional struggle at first but once you learn how to save money and make money at the same time, you will find balance and be on your way to financial freedom working for yourself.
Every little bit helps when you’re starting out in the freelancing world!
Theoretically, spending less can be a way to a financial freedom, but things work a little bit different in real life. If you want to be financially secured, frugal way of living isn’t the answer. Of course, having a savings account is great and keeping track of your expenses is a smart thing to do, but if you want to progress, you should never settle for less.