There’s never been a better time for freelance work than right now. With work from home becoming more and more acceptable, and more options appearing online, it’s never been easier to get into freelance work.

Because freelance allows you to set your own hours, it is a great option for those looking for extra work to supplement your income. It’s also a great option for college students looking to earn extra money.

How do you actually go about becoming a freelancer? What kind of work can you do as one? And what does it mean for your finances? Let’s take a look.

What You Need to Know About Freelance Work

Freelance work simply means that you work for yourself, and get paid on a job by job basis. In that regard, you can think of it as similar to a gig economy, such as musicians and artists, who get paid per show or per piece sold.

However, freelancing comes with a number of benefits, especially for young people who are still in school. Since you don’t have any specific boss, you have more flexibility in your work schedule. This allows you to shape when you work around your classes or another job.

There are also excellent markets for freelancers in many industries that may normally be hard to gain employment in. There are huge markets online for freelancers in fields such as art and writing. If you’re looking to build a resume in some of these more niche, highly competitive fields, freelance work is a great way to start.

It also gives you better control over the specifics of how much you make, and when you make it. Since freelancers are often paid upon completion of a job, you can take as many or as few jobs as you need in a given week.

In fact, depending on how and how often you work, it’s possible to make lots of money through freelance work.

Of course, it’s not all easy. One of the hardest parts of freelancing is managing your finances, specifically your taxes. Since you have no boss, taxes are not automatically deducted from your income. 

This means all of the responsibility falls on your shoulders. You have to keep accurate records of when you get paid, and how much you get paid. This article goes further into depth on the ins and outs of managing your income and taxes as a freelancer.

Becoming a Freelancer is a Great Option

Depending on your needs, becoming a freelancer can be a great supplement, or even an alternative, to a more traditional job. People with busy schedules, such as college students or stay at home parents, can use freelance work to supplement their incomes.

And those with more niche skills, such as art and writing, can find plenty of work that they may not have found otherwise.

If this sounds interesting to you, consider becoming a freelancer today. And if you are considering it, be sure to check out the rest of our site for more tips on freelance work.