Michelle Jackson knows the ups and downs of the freelance lifestyle. She’s been making money as a freelancer – supporting herself with full-time work for the past year. She transitioned from a steady job as a university professional to try out the uncharted waters of freelancing and hasn’t looked back.
I’ve watched Michelle’s transition over the past year and am excited to have her on the Midday Money Show. She shared the good, bad, and ugly as it relates to making money through freelance work.
We might fantasize about being our own boss. Working from any location. Setting a schedule that you can adjust at will. Those things sound enticing. There complications begin when projects bunch up, or invoices sit unpaid, or you have trouble locating reasonable clients.
Michelle dives into all of this.
While her experience has been lucrative for a newbie, it hasn’t been without frustration.
I like the idea of freelance work – especially on the side – to generate extra income. However, Michelle takes us into her world of the self employed entrepreneur.
Just planting seeds folks. Making money in the digital space is possible.
Transitioning to Freelance Work
As with any change in life, it works best with a plan.
Michelle talked about her 2 year process of preparation for making money in the freelance lifestyle. Unhappy in her current job, she worked through a few steps to make the dream work.
- She cut her expenses. In addition to doing a no shopping fast for a year, Michelle also reduced her expenses by lowering her phone bill. Republic Wireless offers affordable plans starting at $10/month. I use them now and receive a refund for unused data. My bill has never been over $20. Compared to my old Sprint account, that’s a 50% savings.
- She cleaned up outstanding bills. While her financial journey continues, she used the extra savings to ween herself from expensive spending habits and focus on making strides towards her financial goals.
- She saved a cushion. After quitting her 9-5, Michelle traveled for a bit and then started to find freelance clients. She was able to take this much needed break because she had a savings cushion.
Topics Discussed in this Episode
- The ups and downs of freelance work
- How she find clients
- What she has charged for projects
- What doesn’t work well in a freelance lifestyle – from her perspective
- How to transition to freelance work
Resources Mentioned in this Episode
This post does feature a referral link from Republic Wireless. All opinions are my own. I only affiliate with companies that will enhance the debt free journey. Full Disclosure Statement