Hello! If you are new here, I recommend you read my latest income report – $32,474 in April – My Monthly Online Income Report.
In October of 2013, I happily started freelancing full-time.
Technically, I have been freelancing full-time for several years, but it wasn’t until October of 2013 that I left the full-time day job I was juggling as well.
Turning my side jobs into my main job was hard work though.
I look back and I still cannot believe that I gathered the courage to do it. However, life is incredibly better so I am glad I made the preparations that I did because I was able to transition into full-time freelancing rather smoothly.
Below are my tips so that you can do the same.
Create a plan.
Is your plan to turn your side job into your full-time job a realistic one?
Below are some of the many things you might want to think about:
- Can you make a full-time income with your side job? You may need to add more services and clients in order to make the switch. If so, head on over to websites such as Fiverr to find more work.
- Can you make an income for many, many years to come? Or is it not long-term?
- How long will it take for you to make a full-time income after you leave your day job?
- What will you do for health insurance?
- When will you turn in your notice at your current full-time job?
- Will you create a back up plan for yourself?
- Will you have to outsource certain tasks?
- What will your schedule be?
Build an emergency fund.
If you don’t already have an emergency fund, I suggest you start building it up now.
Freelancing usually means unstable income. You might have your best month ever one month, and then the very next month may be your absolute worst.
This is why an emergency fund is so important. For us, we have around one full year of expenses saved. This is because we own a house (our emergency fund helps with any home repairs as well) and because both me and my husband are self-employed.
An emergency fund gives us piece of mind in that we don’t have to stress out over a few bad months. Stress can impact the quality of work you provide, and that is something you don’t want to happen.
Freelancing is hard work. Some like to think that it’s a never ending vacation, but that is not true at all. If you want to leave your day job so that you can freelance full-time, you will need to work many long hours most likely.
For me, I was working 100 hours a week for over a year between my day job as a financial analyst and all of the side jobs I held. It was hard work, but I had my eye on the prize and I knew that all of the hard work would pay off in the end.
While, in the beginning I didn’t know that my side jobs would leave to me freelancing full-time, eventually I realized this was possible and it was a major benefit of having a side job.
Are you interested in turning your side job into your main job? What tips do you have?
This is a sponsored post written by me on behalf of Fiverr in partnership with Kasai Media. All opinions are 100% mine.
Subscribe to get the free Master Your Money course!
Join the free email course and finally learn how to manage your money better, pay off debt, save more money, and reach financial freedom. Get our newsletter and get access to the freebie: