Freelancing… Whenever you hear that word, what comes to your mind?
When I heard the word “freelancing” for the first time, I imagined myself working comfortably in my own space—in front of my laptop with a hot cup of freshly brewed coffee at hand. I can work whenever and wherever I want. Relaxing picture, isn’t it?
That’s exactly why becoming a freelancer was one of the best decisions in my life. I have control, financial independence, and freedom—which most people don’t experience in a 9-to-5 job. Working as a freelancer for more than five years has brought a lot of positive changes in my life. The best part? The opportunities are endless!
So what are the core benefits of becoming a full-time freelancer? That’s exactly what I’ll cover in this blog post! But first, let me first show you the most common types of freelancers according to Graphic Design Degree Hub:
Source: Graphic Design Degree Hub
As you can see in the image, freelancing isn’t limited to online-based jobs. Most engineers, accountants, lawyers, paralegals, project managers, and more are actually considered as freelancers (or self-employed professionals) as well!
1. Becoming a freelancer means being your own boss.
Switching to a freelance career means you get to be your own boss. Since you’re the boss you, you’re free to do as you please, when you please. You don’t have to answer to anyone or to deal with people you don’t like. You can also make important business decisions on your own—like how many clients or projects you accept, how long you work every single day and even take a day off whenever you need one.
But as Uncle Ben said to Spiderman, “With great power comes great responsibility.”
Being your own boss means you should learn how to take the blame… EVERY SINGLE TIME. Unhappy clients, a major loss of income, not enough clients for this month—it’s all your fault. But don’t be get too depressed, learn from your mistakes and you’ll get better!
2. You pay less tax (thanks to deductions!) because the government says so.
As a freelancer, you can take advantage of more tax deductions that aren’t available to employees because you’ll most likely register a sole proprietorship business. This includes deductions (office rent, travel expense, costs related to meals and internet access, phone plan, equipment, and other business costs) before you compute for your taxable income.
Since you declare your own income, being self-employed is possibly the best tax strategy out there. But don’t forget to ask an accountant to discuss how working as a freelancer might affect your taxes.
There’s an ongoing debate whether or not freelancers should pay their taxes. The government hasn’t regulated the online freelance industry yet (but you might’ve heard of BIR’s plans to do so) and that’s why most people believe paying taxes as an online freelancer is optional. But, in my opinion, you should think long-term you might enjoy paying zero taxes right now but eventually having a TIN, ITR, SSS, Pag-Ibig, and PhilHealth will help you long-term.
3. Freelancing can give you a decent work-life balance.
Freelancers have a great work-life balance that traditional employees can’t have. Since you can work from home and whenever you want, can spend more time with your family, friends, pets, or hobbies. You could steal moments to relax and to focus on yourself.
If you want to go out with your friends to catch a movie on a Wednesday afternoon you can leave your work and enjoy the day. You can have your weekends back!
You’re not required to work 40 hours a week or sometimes more than that. You can take as much or as little break as you prefer. There are no rules to follow or fixed-hours. You call the shots!
4. You can potentially earn more compared to regular employees.
Source: Graphic Design Degree Hub
As a freelancer, you can enjoy a larger income compared to most regular employees. Especially if you’re a freelancer working with US clients, you’ll be earning in dollars. Big dollars! You can charge per hour or based on the type of job. Did we also mention that you get to keep all the profit?
If a client thinks that you’re charging too high and they’re trying to haggle with your rate, you can politely decline the project. You can work for multiple clients and you could search for more to increase your pay, but this will all depend on your commitment and the effort you put into your job.
No travel costs, corporate clothes, or other daily expenses. You’ll be able to save a lot of money to expand your business.
5. You get the freedom to choose who you work with.
Let’s face it, it’s not easy to get along with clients who are rude or toxic. When you’re a freelancer, you can choose who you work with. I know what you’re thinking, “How would you be able to pay next month’s rent if you decline some clients?”
Well, guess what? There are hundreds of other clients who are willing to work with you. So feel free if you don’t agree with a client’s personality, project, or payment terms, you can politely decline anytime. You no longer have to deal with toxic bosses or coworkers that talk behind your back—another perk of working as a freelancer!
6. Working from home means you won’t have to endure Metro Manila’s heavy traffic.
We all know how much of a hassle it is to commute going to work every single day. A 9-to-5 can turn into a 7-to-7 because of the heavy traffic and long lines if you take the bus, jeep, or train to work. Even if you have your own car, there’s the expensive parking, gas, and car maintenance that will cut a large chunk out of your salary each month.
As a freelancer, you never have to leave home to work or you can simply choose to work in a coffee shop nearby. Co-working spaces are great too if you want to work with other like-minded people. So instead of spending 4 hours (or more) a day going to and from your office, you can invest that time in other activities instead—such as going to the gym, expanding your business, spending time with your family, etc.
7. You can increase your rates whenever and for whatever reason you want.
As a freelancer, you have complete control over the price of your work and you get to keep all the profit! If you think that your income isn’t enough, you could look for more clients to increase your pay or you can easily double or triple your rate. If a client thinks that you’re charging too high or if a client tries to negotiate, you can politely decline the project. There are more clients out there who’ll value your work and pay your rates.
Whether you’re a stay at home mom or you’re a college undergraduate, it doesn’t matter in the freelance field. There’s no age limit or preferred gender. Years of freelancing experience is a luxury, most clients prefer people that get them results (at least in copywriting).
The freelance life is AWESOME but test the waters first before jumping in!
Source: Graphic Design Degree Hub
Freelancing isn’t for everyone, some people would prefer job security over scalability. If you want a stable job that pays the same each month, leaving you with no worries at all, stick with a 9-to-5 job.
If you want a career where you can potentially keep increasing your income, jump into freelancing. I’m telling you now… there are risks when it comes to freelancing. In the first few months, your income would definitely fluctuate. But as you learn from your mistakes, achieving an income that keeps going up is definitely possible!
If you’re one of the brave souls who want to exit the rat race and build their own empire from scratch, becoming a freelancer in the Philippines is a great option!
Author: Raffy Marabut
Raffy Marabut is a freelance direct response copywriter. For years, he has been helping clients get more leads, customers, and sales with direct response copy that converts. Raffy is also the founder of Copywriting Dojo, the Philippines’ first community for copywriters and he trains people in the art of direct response copywriting.