In the fast-paced world and gig economy, everyone is looking for ways to increase their income. And one of the common ways of doing that is to freelance while working full time. Balancing a freelance job while working full time is daunting but if you want to capitalize on your skills or want to diversify your income sources, this is the way to go.
Also, owing to innumerable US companies open to hiring freelancers, this business trend is on the rise these days. So, if you are also planning to try your hand at freelancing while maintaining your full-time job, read this article.
The article explains how you can juggle between a 9-to-5 job and freelancing to successfully navigate through this dual career path and shares some work-balance tips.
Balancing a Full-time Job and Freelancing
It’s true that balancing a full-time job with freelancing is quite challenging. However, if you keep the right approach, you can manage things easily. Firstly, when you are thinking of diving into this freelancing world, analyze your mental capacity. See which time, morning or evening, will be more suitable for you to complete your freelance projects. Don’t push yourself too much because you need to maintain boundaries between full-time work, freelance work, and your personal life.
Also, it is always better to have transparency and honesty with your freelance clients so that your clients keep reasonable expectations from you. Additionally, it becomes easy for you to set clear boundaries. Don’t set unrealistic expectations in your freelance work. Always maintain some flexibility with your freelance work as that is the key to sustainable work-life balance.
Setting Realistic Goals and Expectations
If you are wondering how to freelance while working full-time, the most important thing for you to learn is to set realistic goals during freelancing. Don’t try to overcommit as it will make you lose from all sides. You won’t be able to meet deadlines, the workload will affect your full-time job and you will burn out in your personal life.
Remember, why are you freelancing? Is it for money? Is it to capitalize on your skills or just to utilize your free time? Whatever your reason is, nothing is more important than your physical and mental health.
So, always set clear expectations, both from clients and from yourself. Let your clients know how much of a workload you can handle. Ask for some flexibility in deadlines.
Make sure that you enjoy what you are doing. Always pick freelance projects or full-time opportunities so that you remain committed to both. Put your best efforts into it, but also find time for yourself.
Time Management Strategies
While balancing freelancing with a full-time job, it is essential to implement some time management strategies. Some tips for freelancers include:
- Maintain a clear boundary between the two jobs. Never work on your freelance projects during your full-time work hours. Balancing your time is essential for the successful management of two jobs.
- Take help of time-tracking tools to know how much time you need to spend on a particular project. This also helps in improving efficiency.
- If you are already loaded with different freelance projects, learn to say NO to new ones. Declining a few projects helps you in delivering on-going projects on time.
- Let your client know when and how much time you can give to your freelance work. Clear communication helps your client set realistic expectations with you.
Managing Workload and Avoiding Burnout
Balancing two jobs at one time can be overwhelming. There is no point in freelancing if you are feeling burned out, exhausted and tired. You need to stay balanced and adopt some strategies to reduce and manage your workload. Here are some tips every freelancer needs to know.
Prioritize tasks
Categorize your work based on urgency and importance with the help of some online tools available. First of all, pick something that is urgent as well as important.
Use project management tools
Use online tools that help you track your project deadlines so that you can work more efficiently.
Take breaks in between
Working in short bursts can help you increase productivity and avoid getting tired. Try to work a maximum of 25 minutes at a stretch and then take a 5-minute break. In this break time, eat something healthy, exercise, watch TV or just meditate.
Use automation tools
Some tasks are repetitive, and you need to be smart to handle them. Use automation tools rather than doing them personally.
Divide your time:
Allocate a fixed time for your freelance work and stick to it. Don’t overlap the timings of the two jobs.
Legal and Financial Considerations
Are you aware of the legal and financial considerations of freelancing while working full-time? If not, you must be. Knowing all legal and financial aspects helps you protect your interests and make informed decisions.
Legal considerations
Don’t indulge in any freelance service that competes with your full-time employer. The conflict of interest can raise legal problems for you. Before you start, check your employment contract. See if there is any freelance activity restriction clause mentioned in the contract. If it is there, it may be illegal to start freelancing.
Another important aspect is to check whether your local laws allow for dual employment. Some laws prohibit people from getting into two jobs simultaneously.
Start your freelancing work only after considering all these legal aspects. For more information, you can also contact a legal advisor.
Financial aspects
Freelancing in addition to your full-time job definitely adds to your income source. If you can plan your finances properly and manage your funds, you can make better use of your dual income.
Just because you now have freelance income, don’t indulge in unnecessary spending. Save money for self-employment taxes as freelance income falls under different tax regulations. Also, remember that freelance income is variable. So, save money for your lean times. Use your freelance money to market yourself for better brand building and attract more profitable freelance clients.
Conclusion
A healthy working balance is essential when you are freelancing along with a full-time job. Plan and organize carefully, set clear boundaries, prioritize tasks and utilize time management tactics to handle demands from both jobs.
Hopefully, our tips will help you enjoy your professional growth and extra income in freelancing without getting burned out.
Here, Ruul can share some of your workload by helping you with easy invoicing for your clients. Contact Ruul for freelancer invoicing tools and payment collection solutions.
