Posts Tagged ‘make money at home’
Pros and Cons of Working At Home
What are the pros and cons of working from home? If you hate the 9-5 rat race, you may think there are no disadvantages to working from home. Chances are, all you can think of are the pros, such as the following:
Avoiding rush hour commute. Most people who have to sit through traffic wish they didn’t. For many people, avoiding exposure to road rage is right at the top of the list of pros.
- Flexible hours. If you work from home, you can work exactly when you want. There is no time clock to punch. If you’re a night person, you can work in the middle of the night.
- More time with your family. This one is a great pro for working at home – if it works out that way. Some people find when they’re self-employed they actually are working more hours than when they had a day job.
- Being able to work without supervision. No more bosses looking over your shoulder, no more annual review. But are you disciplined enough to handle it/
What about the cons?
No benefits. No more getting paid for holidays and vacations. No one is matching your 401K payment or contributing to group health insurance.
- Lack of a salary you can count on. You will only get paid if you work, and in the early months and maybe years of your business, you may not make much. You have to plan for your own health insurance and retirement needs.
- Lack of interaction with other adults. Some people may miss the office gossip or feel trapped when surrounded by small children all the time.
I’m sure you can think of other advantages and disadvantages to working from home. Only you can decide whether the pros outweigh the cons.
Advantages and Disadvantages of Freelancing
For those seeking work at home opportunities, what most people are really looking for is freedom. Freedom from time clocks, nerve-wracking commutes, performance reviews, asking permission to go to the restroom, etc.
One path to freedom is working as a freelancer. Freelancing means contracting a particular skill or service, often on a per project basis. You are contracted to do a particular job, but you are not employed by the person who contracts you. Some of the skills that are offered on a freelance basis are writing, photography, graphic design, editing and computer programming.
Some of the advantages of freelancing include:
- Variety of projects and people you work for. When a project is complete, you have no obligation to continue working for a particular company. You can work for more than one company or client.
- Control over what your time is worth. At a regular job, your income is limited to what your employer thinks you are worth. As a freelancer, you charge what you feel your services are worth, and you can adjust your bids at any time.
- Scheduling freedom. If you are a night person, you have the freedom to do the bulk of your work at 10 p.m. or later. Likewise, you can work at 5 a.m. if you’re most alert in the morning, and you can take the afternoon off to do errands or spend time with your kids.
The disadvantages of freelancing include:
- Lack of steady income. There is something to be said for knowing where your next paycheck is coming from. In the freelancing world, until you have established yourself with several steady clients, there is an absence of a steady paycheck.
- Time required finding jobs. For a freelancer, part of your business plan has to include spending part of your work day marketing yourself and looking for more work.
- Income taxes. Being self-employed means being responsible for your own record-keeping and income taxes. If you are single, you also need to worry about health insurance and retirement planning.
If you believe the advantages outweigh the disadvantages, learn more about freelance bidding sites in my next post.