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5 Signs You’re Ready to Quit Your Job and Become a Freelancer

Updated on August 9th, 2017

One of the great things about technology and our society is that you have more options, if you decide you want to change things up with your career. This doesn’t mean that you have to quit your job and become a freelancer or an entrepreneur. However, if you decide that you want to take that step and work for yourself, there are some signs that you’re ready to quit your job:

1. Your Finances are in Order

Before you leave the security of your “real” job behind, you need to make sure that your finances are in order. This means having an emergency fund that can handle the fact that it might take some time to get your fledgling business off the ground.

You should also consider your need for benefits, and make sure that you have a plan for managing your money on a variable income. You aren’t ready to quit your job and become a freelancer until you know that you can take care of yourself and your family.

2. Your Side Hustle is Taking Over Your Time

When you get to the point where your side hustle is taking over your free time, it’s usually a sign that it’s time to quit the job and become a freelancer. When you discover that you spend most of your time at home working on your side hustle because it’s exploding so quickly, that’s an indication that you probably need to change things up, especially if it’s impacting your relationships and the life balance you’re looking for.

If it feels like you’re doing two full-time jobs, you might be ready to quit your “traditional” job and focus on growing your freelance efforts.

3. Your Freelancing Makes Good Money

Does your freelancing make good money? You may have started with the idea of working an hour or two at night and earning some extra cash to help pay off debt or save up for a vacation. Now, though, your freelancing might be providing a good income.

If you are raising your rates and you realize that you could support yourself without the day job, it might be a sign that you were meant to become a freelancer full-time. Combine the increased income with the fact that your side hustle is taking over your life, and you have a clear indication that it’s time to move on.

4. Your Job is Going Nowhere

Many of us like to be challenged with our work, or feel as though we are making a difference. For those with an entrepreneurial spirit, it’s not enough to just clock in and clock out. It’s vital to have a challenge and feel as though progress is being made. If you feel like your job is going nowhere, it might be time to quit and move on. Becoming your own boss might be just the thing you need to feel better about your life and your work.

5. Flexibility is Increasingly Important

The thing I remember most about having a 9-to-5 job is the inflexibility. I couldn’t pick my own hours, and I couldn’t arrange my day as I wanted. One of the things I’m most grateful for as a freelancer is the freedom. When you know that you want to design your own life, it’s time to quit the traditional workforce and become a freelancer. Whether it’s deciding how much money I want to make, or whether it’s figuring out which projects to work on, I have flexibility to life my preferred lifestyle.

Miranda Marquit

Miranda Marquit

I'm Miranda and I'm a freelance financial journalist and money expert. My specialties are investing, small business/entrepreneurship and personal finance. The journey to business success and financial freedom is best undertaken with fellow travelers.

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