Relationships Are You Ready to Freelance Full-time? Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint.com Published Jun 17, 2019 - [Updated Apr 26, 2021] 1 min read Sources Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. Working from home is easier than ever before. Video conferencing and chat communication platforms are close to replicating the experience of working in office. This advance in technology is one of the main reasons why the United States is seeing a huge rise in the gig economy. There are currently 57 million people who freelance, and that is expected to grow to nearly half of all workers in the next decade. While it’s now simpler than ever to find a freelance gig on an online job board, it’s still a big leap to go from the occasional side hustler to full-time freelancer. If you’re already being paid to work the odd freelance project, you may be attracted to the flexibility and freedom that full-time freelancing offers. However, there’s more to doing your hustle full-time than meets the eye. With flexibility comes more instability. Your income won’t always be consistent, and without an emergency savings, paying for expenses in the early stages can get tough. Plus, you’ll be responsible for all of your own taxes and health care coverage, which can set you back further than you might anticipate. Because of these additional costs, and the time spent doing unpaid marketing and administrative tasks, many experts recommend that freelancers double their usual hourly rate in order to take home an equivalent amount to salaried employees. While it can be a challenge to manage your finances as a freelancer, for many people the extra work is worth the rewards of getting to work whenever you want, on only projects you enjoy. To help you decide if freelancing full-time is right for you, check out our infographic below: Previous Post 3 Types of Financial Accounts New Grads Should Consider Next Post #RealMoneyTalk: What I Wish I Knew About My Student Loans Written by Mint.com More from Mint.com Sources Forbes | FreelancersUnion | SmallBizTrends Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance