As a freelancer, you know that you’re going to face more challenges than the average worker — and some of those challenges will feel like complete disasters if you’re not prepared for them. So, here is how you can prepare for four common disasters:
Tech Problems
You need your tech to stay in top condition. If your computer stops working, you also stop working. You won’t be able to get anything done until it gets fixed or replaced.
So, what can you do about this disaster? One of your best options is to set aside savings every month in an emergency fund. You can dip into that emergency fund whenever you have some urgent tech repairs or replacements that could put your work at a standstill.
What if you don’t have enough savings? Then you could try applying for a personal loan online. Remember to look for online loans available in your home state. So, if you live in Phoenix or Sedona, you should look for online loans in Arizona to help you deal with this emergency expense. You don’t want to search for loans that aren’t accessible in your location.
Not Getting Paid
One of the most common disasters that you’ll deal with as a freelancer is late payments from clients. You might not get paid for what you’re owed until weeks after the initial deadline. In some cases, you might get ghosted by terrible clients that think they can disappear and not pay you for all of your hard work.
What can you do? There are a few things that you can do to limit this problem:
- Create a legal contract with a clear deadline with additional fees for late payments.
- Have the client pay a down payment upfront.
- Divide up the payment so that you get a portion of the total once you’ve reached a milestone in the project.
Getting Sick
Getting sick can be a big problem for freelancers for two reasons: you don’t have health insurance through an employer, and your recovery time can impact your income.
So, what can you do? You shouldn’t continue working without health insurance. Medical costs in the country are way too high to risk getting sick without any coverage whatsoever. There are several options for freelancer health insurance that you can look at. Choose the best one for your situation as soon as possible.
Again, you should put together an emergency fund so that you can pay for your monthly essentials when something goes wrong. If you get sick, and that puts your next paycheck on hold, you can at least turn to your fund for help.
Burning Out
As a freelancer, you could easily push yourself too hard and end up with burnout symptoms that make it near impossible to finish your work. This could have a terrible effect on your mental health, and in time, on your financial stability.
So, what causes burnout?
- Working too many hours
- Not having any work-life balance
- Not getting enough sleep
- High-pressure deadlines
You can minimize your risks of dealing with burnout by giving yourself a manageable workload, making reasonable deadlines and setting clear boundaries between your work and regular life.
Save yourself the stress of struggling with these disasters! By following these tips, you can make your job much easier.