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Freelancers are hired by other companies on a part time or short-term basis, but they do not receive the same compensation as full-time employees or have the same level of commitment to any particular company. Freelancing means to work as an independent company rather than be employed by someone else. Freelancers are self-employed and often referred to as independent contractors.

The term “freelance” dates back to the 1800s when a “free lance” referred to a medieval mercenary who would fight for whichever nation or person paid them the most. The term “lance” referred to the long weapon that knights on horseback used to knock opponents off of their horses (think jousting). Freelancers accept payment in return for providing some sort of service. That agreement is generally part-time or short term. It’s really one of the simplest and most pure forms of entrepreneurship: the freelancer provides a specific service or outcome, and the buyer pays them a fee directly.

brights of freelancing

Freelancing provides a lot of flexibility and control to the individual. Most freelancers choose their own hours, the work that they do, the clients they work with, and may even be able to work remotely. Freelancing is also a form of entrepreneurship, which means the freelancer has total control of their earning potential. Freelancers aren’t locked into a salary, and so they can earn as much as they are able to bill to their clients. Freelancing provides a lot of variety in the type of work you can do, too. If you are someone with a lot of interests and are drawn to trying new things, freelancing can help you explore all kinds of projects and industries.

Freelancers have the unique ability to choose the clients they work with. They also have the ability to work with many clients or only a few select clients. FlexJobs’ survey of over 1,000 freelancers found that networking  and job sites like FlexJobs (47%) are the two most common ways that freelancers find clients.

weak freelancing

Freelancing comes with both financial and some health risks. In the United States, one of the biggest benefits to full time employment is access to healthcare and other financial benefits outside of your typical salary. That may include a 401K retirement plan or company-provided health insurance. For freelancers, being hired as an independent contractor generally means companies will not provide those same financial or healthcare benefits to you. Not only are freelancers on their own to set these benefits up for themselves, but they are also at a bit of a disadvantage.

Of course, reality isn’t always as rose-tinted as we’d imagine, and this post will highlight some of the negative effects that working freelance can have on you. While most freelancers are convinced that the pros of the freelance lifestyle outweigh the cons, it’s not a bad idea to be aware of some of the negative effects that freelancing can have on you.

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Not everyone uses the term “freelance” or “freelancer” when it comes to work that a freelancer may do. In fact, even most freelancers refer to themselves as “self-employed.”

So other terms you may want to be aware of that relate to freelancing include:

• Contract work: Jobs where you are working to fulfill a short-term or part time contract
• Contract job: Same as above.
• Independent contractor: This is the IRS classification of a freelancer
• 1099: Freelancers are paid using a tax form called a “1099-MISC” as opposed to your typical, full-time W2. Sometimes “1099” is used to refer to a freelancer.
• Contract consultant: This term refers to a consultant coming in under a 1099 contract for a short period of time.
• Contract-to-hire: Sometimes freelancers are interested in full-time employment. Contract-to-hire roles provide a sort of “test period” for a freelancer before they are hired full time.

Main idea of content

Freelancing means to be your own boss. It’s on you to find a way to fill your time with paid work, whether it’s client direct, subcontracting, or through a jobs marketplace.There are dozens and dozens of different types of freelance jobs, and more companies are hiring freelancers than ever before.Freelancing can be an incredible way to earn a living on your own terms, but there are tradeoffs when it comes to financial and health benefits.It’s up to you to decide if freelancing is right for you. But if you’re going to freelance, investing in the training from Freelancing School can help you make the jump quickly.