freelancing for making money online

Updated : Oct 01, 2019 in ACTIVE INCOME

Freelancing: a Way of Online Money Making: Pros, Cons and Future

Making money and leading life smoothly with that money on this earth are the prime concern of every living person. To do that, all are searching for congenial ways of money making. Some choose selling products on physical shops, some choose jobs, and some open their own companies. But there are some people who, like me, do not believe in hard and fast time schedule of work. Freelancing is the right choice for them. I am going to describe key ideas regarding freelancing, its pros and cons and its future.

What is freelancing?

To understand the concept of freelancing better, I would like to divide the word into two “Free” and “Lance”. By the word “Free”, we understand state of life where there is no limitations or boundaries of doing anything. And “Lance”, as described in the Oxford Advanced Learners Dictionary, means to move suddenly and sharply and quickly. Therefore, the etymological meaning of “freelancing” is “freedom to move suddenly and quickly”.

From the meaning, I want to define freelancing as the online money making work, where there is no limitation of sitting in a place and doing 9 a.m. to 5 p.m. job in exchange of a fixed salary. To me, freelancing is a concept where workers are free to work sitting in anywhere of the work and of course with a time to deliver the work.

Pros and Cons of Freelancing

Everything in this world has some advantages and disadvantages. Freelancing also has some advantages and disadvantages. Let’s discuss some of them:

Pros of Freelancing

  • Flexibility of choosing schedule hours and location of work.
  • Client selection according to terms and conditions and your will.
  • Limitless earning opportunity.
  • Casual informal dress for working environment.
  • Tension free regarding office politics and annual report tension.
  • No rebuke from boss
  • No transportation costs.
  • Work according to passion.
  • No monotony in work. Variety of work (e.g. graphics design, web development, writing, seo etc.).
  • Tackling various clients at a time.

Cons of Freelancing

  • Isolation
  • New work search problem
  • Inconsistent work.
  • Inconsistent cash flow
  • No job security
  • Tiredness in dealing with multiple clients
  • No fixed payment time

Future of Freelancing

According to Forbes magazine, there is an increase of 8.1% in the freelancer from 2015-2018 in America. The total number of American people who are in freelancing are 57.3 million. Fobres estimates that more than 50% of the American workforce will be in freelancing by 2027.

Similar is the scenario in the UK. Office of National Statistics (ONS) said there was 15% increase in freelancing profession from 2001 to 2017.

Xenios Thrasyvoulou, the founder of PeoplePerHour, a renowned freelancing platform, predicted that half of the total workforce will be in freelancing by 2020.

From the report and prediction given above, it is clear that more and more workforce is going to join freelancing. Employees are also getting inclined to freelance their work. Because, they are able to choose from the experts for their particular jobs.

According to Upwork study, a top level freelancing platform, by 2028, more 73% of all US companies’ departments will have remote workers. This repost was published in March 5, 2019. Therefore, the necessity of freelancers will also increase a lot.

It is obvious from the above mentioned reports that the future of freelancing as the source of earning money online is very bright all over the world. Freelancers just need to keep their skills up to date to work for the clients.

I am going discuss key necessaries of freelancing for earn money online in my next articles. Don’t forget to share your queries and opinions.

2 Comments

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