A Freelancer’s Lifestyle: Balancing Stability and Adventure
Tips on how to thrive amidst freelancing uncertainties with smart strategies
You see digital nomads living their life on social media.
So you might be asking, do freelancers spend their days working on a beach?
[Spoiler: I don’t. I spend it in coffee shops or right beside (or sometimes on) my bed.]
I’ve been a part of the gig economy for seven years, writing blog articles for content agencies, bloggers, and entrepreneurs.
I’m a travel junkie, but I rarely bring my laptop right there in front of the beach or overlooking the mountains to work on my deliverables.
Nature, to me, has that magnetic pull that demands my presence and full attention. So what works for me is working inside my hotel, getting the work done. Then, I can get back to enjoying the scenery.
That’s one of many ways I balance adventure and stability as a freelancer.
The Allure of Adventure
I love freelancing because it made me wealthy. Wait — what is “wealth” anyway?
To me, WEALTH = TIME
It’s my favorite aspect of freelancing: I can be available for people and things that matter most to me.
- I create my schedule, and I can make myself available to spend quality time with my family and friends.
- I don’t have to skip a family celebration because I’m out of leave credits and need to be at the office.
- I can adjust my schedule and be there for my loved ones in case of an emergency.
- I can pack my bags right now and enjoy the solitude up in the mountains, surrounded by the sounds of rustling tree leaves, and feel the moisture on my hair on a dewy morning.
Even when things aren’t alluring (more on this later), and I sometimes doubt my choices, I believe having this time autonomy and location freedom are worth the uncertainties.
Embracing Stability Despite The Uncertainties
Oh yes. The high highs and the low lows.
My transition from my 9–5 job as a chemical engineer to a freelance writer was slow. I tested the waters first because risking job security was scary.
But at some point, we’ll reach the crossroads. Will you take the safe road or the road less taken?
I walked into the arena and gave it my best shot. The willingness to show up changes us. It makes us a little braver each time.
- Brene Brown from “Daring Greatly”
I only provide for myself, so heck, I might as well take the plunge! But before doing that, I built my safety gear and nets with me.
Here are the following strategies I did before making the full transition to freelancing:
- BUILD MY EMERGENCY FUND
In my head, it’s not a case of what if — I know there will be fluctuations. I have to be prepared for it.
While I’m earning well in my side hustles, I allocated about half of what I earn to my emergency fund. It’s crucial for me to set this up to protect my peace of mind. Get that what-if-I-don’t-find-any-clients worries out of the equation.
Saving up 6x of my monthly income means I won’t panic if I don’t have any clients for six months.
2. BUILD MY PERSONAL DEVELOPMENT FUND
Emergency fund — done. Next, I allocated 30% of my freelancing income to set up funds for my upskilling activities.
I’ll use this fund to enroll myself in online courses and workshops, join networking events, sign up for accreditations, and pay for webinars.
Again, I want to remove that I-don’t-have-money-for-this worry from the equation whenever I see a promising course that will improve my skills.
3. SET UP A ROUTINE (and be accountable for it)
Freelancers faced setbacks and ignored naysayers to find more time for themselves. Use it responsibly.
To manage the risks of unstable income in freelancing, you need to do two things regularly.
Upskilling and marketing.
- Upskilling is for producing your output or doing your service exceptionally well at a quick turnaround time. Clients are willing to pay you for more because you deliver your promise.
- Marketing is for finding new clients to work with. Consider yourself lucky to work freelance with clients for 2 or 3 years. But luck runs out if you’re not prepared for opportunities. Feed your pipeline of income sources continuously.
Without these two activities, you’re doomed to stunted growth. I say that from experience, believe me.
Schedule activities for upskilling and marketing, on top of your freelance work.
Finding The Sweet Spot: Balancing Both Worlds
So you see, there’s a lot of work that goes behind the scenes.
Those vacation photos and videos you see on social media are cherry-picked moments in a freelancer’s lifestyle. This is the tip of the iceberg you see from afar, from an outsider’s view.
Underneath, you don’t get to see the daily work and the discipline to stick to the routine. The risk appetite for uncertainties, which goes both ways. It could be a month where you have no active clients, thus, no income. Followed by a month with a 6-digit income.
But here’s what you need to remember — fluctuations and changes happen and it doesn’t mean abandonment.
The wealthy know it’s working even though it looks like it’s failing because they’re in it for the long haul. They’re zoomed out. The dips and troughs don’t mean something.
Wealth is a long game.
So, whenever you think about quitting your job and pursuing freelancing…
If you’re a freelancer and things are not looking so well for you for the past few months…
Whenever you doubt your career choice as a freelancer…
Ask yourself: Are you in it for the long haul?
If your answer is a battle-cry YES, just like mine, then have faith, soldier! Keep the fire burning.
