Going Freelance? Let's Get To Work!

Two years into the pandemic, remote work is favored more than ever. In fact, more professionals are letting go of the traditional office life to go freelance. Fortunately, working as a freelancer offers many benefits"”starting with greater freedom over your everyday work schedule. Best of all, you'll get the chance to be your boss and possibly earn more financial benefits.   

Are there any downsides? Freelance does have its unique challenges, and traditional office professionals may find it hard to adjust at first. For example, when you're used to getting a monthly salary, you might find it worrying if your income isn't stable month after month. If you're looking to switch over to the exciting life of freelancing, here are some tips to help you adjust and manage your personal finances.  

1. Regularly check your industry rate through Jobstreet.  

It pays to know your worth. Always be in the know of the ongoing rate for projects you've accepted"”are you under or overcharging? Also, it's best to know your competition's current rates.  

2. Prepare a contract. Â 

There's a golden rule in the workplace: cover your behind. It still rings true even in the freelancer world"”or even more so! There's no boss or HR to protect you. Everything should be written in a contract, even if you're working with a close friend or family. This is also necessary for both of your protection.  

 3. Get a reliable digital bank.  

Now that are so many online payment channels available, you should find a trusted and secure online banking facility in tandem with your current traditional one. This is so you can have more clients (both foreign and local) avail of your services.  

4. Write your list of non-negotiables. Â 

It's tempting to say YES to every opportunity that comes your way, but it's equally important to set your boundaries. Whether it's being firm on your work schedule, being picky about whom to work with, or not going below a certain rate will do wonders for your goals (and health!)  

5. Automate your invoice and personal finance matters. Â 

At first, this may not look as important when you're starting with one or two projects. But once you're handling multiple projects simultaneously, paperwork may be the last thing you want to mess up.   

Download personal apps like Lista to manage and automate your personal finances to avoid confusion. Through the app, you can actually learn how to create and send invoices to your clients directly. 

Lista is also offered in offline mode, so you don't have to worry about consuming data when you use it! You can even send free payment reminders to your clients, so you don't miss out even when you're too shy or embarrassed to notify about payment.  

The app even claims that you can collect your receivables up to 3x faster than expected, which is a welcome benefit for any freelancer.  

(You can download Lista here.)  

Living that freelancer life is one way to get closer to achieving your career goals. The pandemic made us realize that technology has opened many doors for remote work and allowed freelancers to thrive. As long as you're aware of the challenges, freelancing will bring you many advantages. When you're ready, #LetsGettoWork in making the switch!  

Start finding your passion and #LetsGetToWOrk in searching for job that you'll love! Visit Jobstreet Philippines website or Facebook page.   

Find work inspiration, advice and motivation here. #LetsGetToWork   

No matter where you are in your career journey, it's never too late to find #JobsThatMatter to you. Update your Jobstreet Profile today to take the next step of your professional career.   

Don't forget to check out the Career Resources Hub for more expert tips and career advice to help you in your journey.