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The Benefits & Drawbacks of Making Money at Home as a Freelancer

  • The flexibility of having a freelance career is second to none and there is practically no other job in the world that gives you both the spare time and the financial freedom to do what you want to do when you want to do it.
  • Finally, with freelancing you have a near limitless income potential. Because you work for yourself, you get to keep all of what you earn. Not a penny goes to anyone else (aside from the government in the form of taxes).
  • All of the profits belong to you so you get to spend it how you please. Furthermore, because you work on a per project basis, you can accept as many projects as you want to earn as much money as you see fit.
  • You are not salaried, so the more work you do, the more you get paid.
Drawbacks
As with anything in the world, there are drawbacks to becoming a freelancer in any field you choose. The predominant drawback is that you are not as financially stable as you are when you are working for someone else.
  • You have to take care of all of your money management, you have to work on project after project if you want to have enough money to stay financially afloat, and you have to provide for your own healthcare.
  • These three factors all add up to create a feeling of fiscal insecurity for many people, and because of the major financial risk involved, many people feel that freelancing is not for them.
  • There is also heavy competition in the world of freelancing. The internet has been both a blessing and a curse to freelancers from around the world.
  • On one hand it has opened the doors to make the world of freelancing much more accessible to anyone who has ever thought about setting out on their own and becoming their own boss.
  • On the other hand though, the internet makes it very easy for freelancers to get in touch with potential clients and possibly steal jobs right out from under you.
  • Because of the heavy competition as a result of the internet, you may have to start out with very low pay for each project you do as a novice freelancer.
  • When your client list expands however, you will be able to make more in the long term.
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