Things You'll Need:
- Internet access
- Careful planning
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Step 1
Think twice before quitting your day job. If you have a regular full-time job that pays a salary (rather than per-project), consider initially keeping this job while pursuing some freelance work. You may have to scale back your hours at your primary job, but this will allow you to test the waters without losing your financial stability.
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Step 2
Make sure you have substantial savings. If you decide to transition to full-time freelance work, make sure you have sufficient savings beyond whatever you may need in the case of a medical or other emergency. You may need this money to subsidize your earnings as you get your career off the ground.
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Step 3
Keep track of billing. Create a system to keep track of your incoming and outgoing invoices, including when you expect and receive payments. Also make sure to keep earnings statements and check stubs for your taxes.
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Step 4
Don't abuse your credit card. As a freelancer, you may not be paid at regular intervals. Use, but don't abuse, your credit card if you have to, making sure to pay it off in full every month.
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Step 5
Research health insurance options. While you may qualify to continue previous coverage under COBRA, there may be other, less-expensive options available to you. One option in New York is the Freelancers Union, which is seeking to expand its coverage nationwide (the link is available below).
Comments
bluemoongoddess said
on 6/11/2009 very good advice, thank you.