Freelancing can be in any form, whether as a creative freelancer (actor), real estate investing, or social media strategy and while it might seem like an easy thing to do, it actually requires a lot of planning and financial freedom.
It isn’t uncommon for people to often regard freelancers as lazy and broke when in fact a lot of work is put into building and maintaining several useful networks while striving to attain adequate resources for this life.
How does one become a Freelancer?
Most people don’t particularly set out to become a freelancer as they already have a plan or goal they wish to achieve until they realize how restricted they have been in showcasing their creative side, and one thing freelancing does is to help you unlock your creativity in the best possible way.
However, it is important that you find what you are really interested in before diving into the world of freelancing. By knowing exactly what you want, you can be sure to get the right information from the right sources.
Once this first step is done, you can then branch out on your own. Although, much like everything else, you might not succeed at first but this is when you begin to network. With the right coach to offer you deals and other opportunities, you are on your way to becoming a freelancer.
Why Managing Money as a Freelancer can be Difficult
Throughout time, money has always been a sensitive subject and isn’t often as well discussed as it should be. This might be attributed to a lot of factors like guilt and fear. However, the key to managing money better is having an open discussion about things like the businesses we’re starting, the amount being invested into it, and our budgeting process.
The right education about money is also needed and it shouldn’t start when one is already an adult. Advice about money, how it should be spent, and how to properly budget, are things that should be instilled into individuals right from childhood.
How this education is spread is also important as some finance experts can attach shame and guilt to the concept of money, making it a boring or sad discussion instead of the excitement and freedom it should connote. Instead of focusing on the struggles to be experienced without money, finance experts can talk more about the things that can be achieved with money.
How to Properly Manage Money as a Freelancer
Limiting Beliefs Surrounding Money
Some limiting beliefs around money can stem from the first memory you have in relation to money or how your family discussed, handled, or viewed money in general.
There is also the scarcity mindset that most people have, believing somehow that money cannot find its way back to them or they simply can’t make it.
Money mantras can help attack these limiting beliefs around money. For example, by declaring things like “Money loves me”, “I deserve to be cared for financially at every age”, “Everything I spend comes back to me three-fold” etc, and meditating on them, these limiting beliefs begin to fade away.
Different Sources of Income and How to Create Generational Wealth
Before thinking about having multiple sources of income, you need to first have a basic income that covers your basic needs, and then you can create other income streams through investments in the stock market through rental income, side hustles, royalty income, etc. These would serve as great options in case you ever decide to quit your job.
At the end of the day, running your business with as much creativity as you can muster, investing in the right places, and networking with the right people will help you in being a successful freelancer.
* Contributor @notstarvingartists
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