Retirement

How Freelancing Can Solve Your Money Problems

Whenever someone signs up for my email list they are asked to complete a survey. As a personal finance blogger, my questions are personal finance-related.

One of the most important questions I ask is: What roadblocks do you have when managing money?

A roadblock that I keep seeing over and over in survey results (and hearing in one-on-one calls) is that readers aren’t making enough money. They try to budget and make other money management improvements, but there is only so much budget-cutting that can be done. At some point, you have to increase your income to solve money problems, repay debt and live comfortably.

I understand full-time freelancing is not for everyone. Having a variable income from month to month is an entirely new beast to manage. With that said, freelancing is an excellent way to bring in side income so you can meet your financial goals. Here’s why:

You Can Get Started Today

Freelancing is offering an independent service. You can do any type of freelance work you want as long as people are willing to pay for it. Options are endless, and you can get started right now.

You may not even need to leave your house to put out your “in business” shingle. I started freelance writing with a simple blog that had a “hire me” page and pitched potential clients non-stop until I got a steady income going.

Freedom to Set Your Own Hours

As a freelancer, you have the autonomy to choose when you will and won’t work. This can be a very convenient setup for someone who already works full-time and needs a bit of side income. You’re able to control your workload, and you can do freelance work when your schedule permits. This freedom leads to less burnout, which prevents money problems long term.

You can also charge a high rate for your services depending on your skill level in a given field. Freelancing could bring in double or triple the amount of money you could make with any other side gig. For example, accountants offering bookkeeping or tax services on the side could make considerably more money doing this service than working retail part-time.

Freelancing Can Grow into New Job Opportunities 

Aspiring freelancers dream of their side business growing enough to replace their main job. Growing a side business to a full-time income is a real possibility. It may take several months or years, but creating a steady income on the side can give you greater financial security and can open doors to other opportunities.

I credit freelancing and networking for helping me make a sweeping career change. I used to work in event and property management before moving into the financial literacy space. Freelance writing for fintech companies, online publications, and entrepreneurs helped me make money online.

Final Word

If you’re experiencing money problems, think of a service you can provide. It can be scary to start your own business, but you have nothing to lose. When you start earning money, make sure to set aside money for taxes. Not paying taxes could put you in a new financial bind. But after fulfilling your tax obligations, you’ll have extra money to repay debt, save and build the life of your dreams.

Read: [Ways to get Free Money]

Taylor Gordon

Taylor K. Gordon is a personal finance writer and founder of Tay Talks Money, a personal finance and productivity blog on hacking your way to a happier savings account. Taylor has contributed to MagnifyMoney, The Huffington Post, GoGirl Finance, Madame Noire, and The Write Life.

Share
Published by
Taylor Gordon

Recent Posts

15 Cheat Codes for Life: Jump 7 Years Ahead of People

When you played video games as a kid, you would likely often look for cheat…

3 days ago

Retiring? These States Won’t Tax Your Distributions

It can be difficult to afford retirement, especially when your retirement income is taxed. In…

19 hours ago

Considerations When Rolling Over a 401(k) into a Roth IRA

The two-pronged axis of employee-sponsored pension plans and individual retirement accounts is the stage where,…

2 days ago

17 Ways to Make Extra Income While Working for Minimum Wage

In the current state of the world, it is nearly impossible to survive on a…

6 days ago

Outsourcing Key Business Functions Can Increase Profit: Here’s How

As businesses grow, keeping up with increasing demands can be difficult. That's why outsourcing key…

19 hours ago

11 Ways Your eCommerce Company Can Fight Back Against Inflation

When it comes to protecting your eCommerce company from rising inflation, you have a few…

4 days ago

10 User-Friendly Personal Finance Tech Tools

Personal finance is a complicated part of life. For example, you can't just take your…

1 week ago

The 10 Best and 10 Worst States for Retirees: A Comprehensive Guide

Many people are more mobile and moving today thanks to the benefits of technology and…

3 weeks ago

How to Stand Out to Small Business Investors

Has your dream always been to own a business? Perhaps you have an invention you…

2 weeks ago

10 Websites that are 100% FREE; Start Making $100-$1,000 Today

Are you looking to bring in some extra money right now? With life getting more…

2 weeks ago