There are several reasons why the gig economy, aka freelancing, has gained so much attention recently. Some of us need an additional source of income to keep up with the ever-growing expenses, while others find the gig economy to be more suited to their independent lifestyle. Irrespective of the reasons, most freelancers agree that making the gig economy work is not easy.
The Internet Makes It Easier for the Modern Freelancers to Find Gigs
A major issue with the gig economy is that it cannot provide financial stability all the time. Freelancers are always on the hunt for new jobs, and it can be quite difficult for them to find new gigs at times. This is where the internet can help. Freelancers can use mobile platforms like Shiftsmart to find a constant stream of temp jobs. It offers some job security in a flexible marketplace.
Within a day or two, the extra shifts and/or new gigs relevant to your qualifications will start appearing on your chosen app. Mobile freelancer platforms offer a growing network of freelance workers and businesses that regularly need temps or flexible workers. Depending on your skills, expertise, experience, and location, this can make the gig economy more profitable than a stable job.
Saving money for the future is important, irrespective of whether someone is a part of the gig economy. However, saving up for the proverbial “rainy day” is not even optional for freelance workers. As mentioned, the main issue with freelance work is that it does not provide a dependable and stable source of income. All months of the year cannot be equally profitable, whether you are freelancing as a ski instructor or pulling extra shifts at your local Walmart. Other than that, there is also retirement to consider. To counter this instability, start saving when you are earning well. It will leave you better prepared for the quieter periods and those long gaps between jobs.
Temporary Clients, Lasting Relationships
Maybe you are a musician working in nightclubs or a student looking for flexible writing jobs online, most jobs also present an opportunity to form a lasting connection with your temporary employer. People prefer to hire freelancers with whom they have already had a good working experience, as compared to hiring complete strangers. If your work is good and you manage to create a lasting impression on your clientele, they will contact you again when a suitable gig is available. Over time, build a strong base of client relationships to keep your work schedule busy throughout the year.
Finally, do not forget about paying and filing your tax returns. A lot depends on how many sources you receive your money from, and the total revenue generated within any given fiscal year. Full-time freelancers, in particular, find it difficult to file a tax return properly without professional tax consultation. Just to be safe, save at least a portion of your income every month for paying taxes only.