It is possible to make a decent living as a freelancer. However, it might be a long time before you have a long list of clients giving you regular work, so you might have a tough time with your finances in the early days. You can save a lot of money if you work from home instead of catching the bus to an office or working in a cafe and spending money on drinks. There are also ways you can boost your income so that your bills are always paid.
Start freelancing before you quit your day job
Even if your job is the reason you want to go freelance in the first place, you cannot deny the benefits of having a regular income for a while. It could be months before you have money coming in again, so make sure you build up a decent safety net before you take the leap.
Make sure you are paid
As a freelancer, you work for other clients, but you are ultimately responsible for getting yourself paid. Make sure you agree upon a payment with your clients and then keep a detailed account of all your work. If you are not certain on how to write up an invoice, you can use an online pay stub maker to keep all your details in check; the name of the client, the work you did, how long it took you, and the money they owe. Once you have sent your clients a detailed invoice, ask them how long until they pay you. Keep chasing them until they have paid you what they owe; you gave them your time and your services as promised, so you are entitled to this money.
Most freelancers have their own websites to advertise their services and skills to potential clients. If you do not have a website yet, you should know that it is an easy way to demonstrate your skills, establish yourself as an expert, and provide a way for clients to get in touch with you. However, you could also use your website to supplement your income. The quickest way to make money from your website is through affiliate marketing – which is where you endorse products you like to your subscribers. If your audience is interested in the product, they click on an affiliate link, and you get a split of the sale price if they purchase the product. Do some research and find other ways you can make money from your website.
You do not have to ask people for money, but you can ask people in your professional network to recommend you to some of their business partners. If you have clients that have been satisfied with your work in the past, be sure to ask them to refer you to their colleagues if they believe they could benefit from your line of work. It takes time to establish a good reputation, but you can build it faster if you make a point of staying in touch with people.