Becoming a Freelance? 5 Questions You Must Answer

Are you planning to quit your current job and become a freelancer or develop your own business? It could be said that the move was quite bold. After all, being a freelancer or freelance worker to work as you wish in other fields deserves thumbs up. Because you will have the opportunity to develop yourself more widely than office work and are not bound by working hours.

However, there are some things to consider, that deciding to become a freelance worker will affect your economic situation. To make a smooth step forward towards a new career as a freelance worker. It’s a good idea to answer the following five questions before deciding on these life choices.

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How Much Money Should You Save?

If you don’t have any other source of income after quitting office work, the first estimate how long your savings will last. Are you ready to meet your needs in the next three months when you start working as a freelancer without a steady income? Or will the savings support you for the next six months? Of course, the more money you can save, the less financial risk will be.

Imagine when we decide to become a freelancer without any preparation. Of course, the difficulties will continue to come. With sufficient savings, you certainly don’t need to be a burden to other people or your family when making that decision. Some personal finance experts even suggest having savings worth the necessities of life for three to six months if you decide to work as a freelancer.

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What is Your Minimum Budget?

Ask yourself, what is the minimum monthly budget that must be prepared to pay for your needs. This need is not only a matter of eating but also includes other financial obligations such as debt, taxes, credit that must be paid every month, and so on.

The amount of money you need during that month, then add it up and then multiply by six (months). Well, that is the amount of money that you should have as a deposit in case something unexpected happens. In this way, future plans to become freelance workers will be safe without having to worry about financial problems that can come up at any time.

Do You Have Passive Income?

Another way to streamline your process of becoming a successful freelancer is to have passive income. Why? Because it can be done with a little money and a little effort so you don’t need to take up the focus of your work. Pay attention to every financial detail and assets owned, find out what items can be used as capital to get passive income.

For example, maybe you have an idle car that is rarely used for daily activities. To help with income, you can start renting it out so that you have more income.

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Are You Ready to Work Overtime?

How much time will you allocate to work? Are you ready to wake up from morning till evening to build your business? If you still work in an office, normally we work for 8 hours. However, when you decide to become a freelancer, that will change.

Because at the beginning of working as a freelance, you must actively seek clients. It is not easy and requires high dedication, in terms of time and energy. Consider whether every effort that will be made later is worth the income you will get.

Do You Have Any Other Financial Plans?

What happens if your first plans to become a freelancer or grow a new business fail? Do you have any other plans? Do you have any financial plans to support those other plans? Especially for the last question, the answer must have! For that, you also need to prepare an allocation of money to support the possibility of the desired plan failing.

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Are you sure? Do it!

So, are you ready to become a freelance worker or develop your own business network? If you are sure of that decision and can answer the five questions above carefully. Then do it! Be careful and wise in making decisions.

That’s the article discussion at this time about 5 questions that you must answer before starting to become a freelancer. maybe these questions can help you when you decide before becoming a freelancer.

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