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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