Everyday Adventures: freelancing

How to be Financially Free the Freelancing Way

By Mommy Donna and Kib - March 17, 2020

I have been working from home for the past eleven years, and I will be proud to say that I am able to build a good network and reputation online. I thank the Lord for the continuous overflowing of blessings to me and to my son.

To be honest, there are low times in my freelancing career.

Good thing I was able to save for the rainy days that is why I was able to recover. In addition, since I was able to build a good network, friends have recommended me for jobs too.

Through freelancing, I was able to travel, buy my own car, have an investment, and save for the future.

Sadly, there are still people who don't believe that freelancing can give them a comfortable life. Some people think that either having a brick and mortar business or full-time office employment can provide them more than enough of their basic needs.

In reality, doing freelancing is really a risk, especially if you are not financially prepared to do so. It is advisable that you should have at least six months' worth of emergency funds to cover up your monthly expenses while you are building your online career. In addition to that, one must invest in the proper tools and equipment before starting his/her online career. Freelancing shouldn't be treated as alternative employment, but rather a business with lots of risks involved.

It is true that freelancing can really provide the best of both worlds, but it also involves a lot of hard work especially when you are still starting. There are cases that the effort that you give on freelancing can be more than the amount of effort you give when you are working in the office.

Here are some of the ways that you can also achieve financial freedom by doing freelancing:

Learn new skills. Every now and then, there's a new thing being introduced in the market, whether it is a product, a technology, or a skill. We must be an empty cup in learning something new. Make an effort to attend classes and read books to keep you sharp. The new skills and knowledge that you acquired can be part of your portfolio. Do not hesitate to attend paid classes to acquire new skills.

Invest in tools. If you wish to get a good-paying freelancing job, then you have to have good computer specs. If you wish to get a voiced job, then purchase a high-quality headset. Internet connectivity is also one thing that you also need to invest in, a minimum of 3Mbps network speed.

Sadly, some people would only purchase the tools after they have landed a job. It doesn't work that way, because possible clients are asking the tools you have prior to your application. They would even ask for a test to see if you really have those tools.

In addition to tools, having a legit software needed for the freelance job is also a must.

Build a network. Join groups related to freelancing. Actively participate and be friends with the right people. Freelancing groups have different philosophies, so it is up to you on which would you believe in and stick to it.

Building a network will also land you to jobs. If you were able to create a good impression to your network, they can give you a recommendation and referrals.

Is it okay to burn bridges? Yes, but make sure that you choose the bridge that you are going to burn and make sure that you will build a new one.

Diversify your income stream. This is very important in freelancing. It is okay to have multiple clients of the same nature of the business but be also transparent about it. Keep your integrity intact.

Moreover, you can also do side jobs and business too! Don't forget to save money like putting up an investment or getting insurance. It is very important that you have different income streams because there are might be a time that your client will terminate your services and you might end up with no income for the meantime. Having a diversified income stream assures you that there will still be income for you during low periods.

Create a brand for yourself. This is to build a good reputation for your future clients. You may have an online portfolio of what services can you offer. Branding also creates a memorable impression for your clients and for them to know your work philosophy. Branding is not only for business but for individuals as well. It also creates an impression on what makes you apart from the rest of your competition.

I always believe in the power of prayer. Before taking a leap to freelance, pray to the Lord if this is the right thing for you to do. If the Lord says, "Yes," for sure He'll lead you to the right people and opportunity too.

God bless!

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Misconceptions on Freelancing

By Mommy Donna and Kib - March 05, 2019

I have been doing freelancing jobs for the past ten years, and I have written in the past why I need to stop working outside (see post here). I have no regrets about being a freelancer despite the yoyo income that I have been experiencing every now and then. I was able to see my son grow and support his passion. On the other hand, I was able to expand my network and discover and learn new skills. Working from home made me be a multi-skilled individual.

However, there are still a lot of people who don't seem to really understand the world of freelancing, particularly those who have a regular day job. They thought that freelancing jobs do not offer stability and more of a gig economy. I must admit that I agree with some of their arguments on working from home, but they still do not know a lot about this world. They would only learn about it once they also dared to take that plunge and join the bandwagon.

Recently, I worked part-time as a college instructor. When my co-faculty asked me about my background, I can see in their faces that they find me a bit 'weird'. I do a lot of things and they are amazed at how I was able to manage all of my commitments and not get tired (well, actually, I get tired.). I said jokingly, "Ganun talaga, mahirap ang buhay, need iba't ibang pagkakakitaan." (Well, that's life, you need to have different opportunities in order to survive.)

Kidding aside, one thing I learned in my freelancing career is that you have to have different income streams, both passive and active.

Here are some of the misconceptions of people regarding freelance jobs:

1. Freelance jobs are NOT professional jobs. I must say that it is both true and untrue. True in a sense some freelance jobs that you might have been far from your real profession. On the other hand, it is untrue because freelance jobs also require the same work ethics as those who are working in a corporate setting. Freelancing gives you an opportunity to widen your horizons and not just settle on the skill that you can learn in an office setting. Freelancing gives you a chance to discover new skills that you never imagined doing if you continue doing a job aligned in your profession.

2. Freelancers DO NOT pay taxes. Sadly, there are still a lot of freelancers out there who are trying to escape paying taxes. Nowadays, there is a strong campaign for freelancers to pay taxes accordingly. Just like what I've said in my previous blog (read about it here), paying taxes also has personal benefits, apart from helping the government fund the projects that will also help our country in the long term.

3. Freelancing DOES NOT pay well. If you were able to find a good job and employer, I can assure you that freelancing can give you a comfortable life. There are cases that you will have a hard time at first because you are still building your online reputation and network, but once you were able to prove your worth, you can start demanding for higher pay. You can hear success stories of some freelancers who were able to travel the world, buy their own house, and drive their own car because of their freelancing income. Again, for you to be able to achieve that kind of time and income freedom, you also need to sacrifice for the meantime.

4. Freelance jobs are only for those people who are lazy and do not have dreams in life. It's so funny that people who work from home are often regarded as lazy people. People never know that a freelancing job is also hard (and sometimes harder than a regular job). Freelancers spend longer hours because of multiple jobs, both online and offline. In addition to that, since a home is not really designed for office work, there are cases that a freelancer gets distracted by the mess inside the house, the noise of the kids, and the chores that you have to do in-between. The only difference between a freelancer and an office worker is that a freelancer has flexible hours to do work compared with an office worker that there is a specific work schedule. Freelancers are paid by the number of hours they rendered, which is why need to work doubly hard.

5. Freelancing DOES NOT have career advancement. If you are thinking about climbing the corporate ladder, you may say that. However, the beauty of doing freelancing is that you can create your own success ladder! You can give a title to yourself without others assigning it to you. You can be the CEO of your company or Director of Operations of the virtual company you're working with. The title that you can give to yourself can also give a good impression to your clients, that you are good in your craft.

On the other hand, when a freelancer goes back to working in the corporate world, there are cases that his/her freelancing job won't be credited as work experience. We can say that life is cruel outside, but then again, let us remember that it's a different world too, so we must conform to their norms.

Freelancing is a risk, and that's a fact. Now that it is becoming popular, looking for an online job is becoming harder and harder these days. Be patient and wise in looking for a job, be nice to the people online, build good connections, and for sure you will be able to build a good freelancing career.