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2019-01-22 19:35:28Becoming Self EmployedEnglishWhether you’re a freelancer for life or simply looking to dabble on the side, being your own boss can have great appeal. Despite the...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/08/iStock-904880968-1-1.jpghttps://quickbooks.intuit.com/au/resources/becoming-self-employed/6-myths-about-freelancing/6 Myths About Freelancing | QuickBooks Australia

6 myths about freelancing

2 min read

Whether you’re a freelancer for life or simply looking to dabble on the side, being your own boss can have great appeal. Perhaps you’re keen on the flexible lifestyle or you want to work with a variety of different clients, either way,  freelancing can be an awesome gig. Despite the perks, it is a profession that is often misunderstood. Here are six myths about freelancing we’ve busted.

1 You never leave the house

Granted, working from home can be one of the added perks of being a freelancer, but it doesn’t mean you never have to leave the house again. In fact, many freelancers get out and about frequently, whether it’s to work at a local coffee shop or co-working space, meet with clients face-to-face or go to a networking event.

2 It’s impossible to save money

Unlike a traditional 9-5 job, being self-employed does mean forgoing a consistent income. But just because your pay checks may fluctuate, doesn’t mean you can’t save money or make a decent income. It simply means that you have to be a little stricter when it comes to monitoring your budget.

3 You’re a total introvert

Just because you work from home, doesn’t mean you’re a complete introvert. In fact, many freelancers are social people who love to work with different clients on a variety of projects. These days co-working spaces can be a freelancer’s best friend, and with free wi-fi all over town, it’s easy to take the laptop and change up your work environment whenever you please.

4 You’re not a business owner

Most freelancers are self-employed and therefore do operate their own small business. While you may not have a fancy office or even any employees, it doesn’t mean you’re not a boss. You also never know where your business might lead, so it pays to run it professionally. Sign up for an ABN and get started.

5 You have loads of free time

Despite what visions others may have of sleep-ins and early afternoon finishes, being a freelancer can be gruelling at times. While you do have a say over your schedule, projects can often take longer and clients can be more demanding than expected. Not to mention the fact that you have to keep a strict eye on your finances, invoicing and tax obligations – all time-consuming tasks.

6 You’re used to working solo

While freelancers may not have colleagues in the traditional sense, many of them are still very much used to collaborating with others. They have to work closely with their clients to win business and collaborate with other team members and businesses to get projects done and dusted. You may also find a close-knit community of freelancers in your area, so it pays to network and find like-minded small business owners.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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