look news india
In today’s modern era, fed up with the tight 9-to-5 schedule of the corporate world, many youth are taking a big decision of leaving their permanent jobs and entering the world of freelancing. The freedom of working from home and choosing one’s own projects attracts everyone. But, this step taken without thinking can prove to be a huge loss for your career and financial condition. If you are also thinking of saying goodbye to your current job and making freelancing a full-time career, then it is very important to understand its hidden advantages and disadvantages before resigning.
The big attractions of freelancing that attract you
There are many concrete and attractive reasons behind the increasing inclination of youth towards freelancing. The biggest advantage in this is the flexibility of ‘work-from-home’ or working at the time of your choice. You do not have to work under the pressure of any boss and according to your skill, you can earn as much as you want by associating with more than one client. Apart from this, people who are fond of traveling can easily manage their work along with traveling the world by becoming ‘Digital Nomad’, which is considered to be the most exciting aspect of this field.
The other side of the coin: hidden risks and big losses
The other side of this bright looking world is full of struggles and uncertainties. The security of paid leave, medical insurance, provident fund (PF) and salary on the 1st of every month, which is available in a regular job, completely disappears in freelancing. Here your earning depends on how many projects you get in that month. Many times, financial crisis arises due to not getting new clients for months, due to which the risk of mental stress and depression increases significantly.
Keep these things in mind before resigning
If you have made up your mind to get into freelancing, then experts advise that you should never leave your job suddenly. First start a side-hustle for a few months in the field of your choice and build a strong client base. Apart from this, definitely deposit ‘Emergency Fund’ in your bank account to meet your expenses for at least 6 months, so that you do not have to face financial crisis in the initial phase of struggle. Only steps taken with proper planning and financial discipline can make you a successful freelancer.