4 ms·

> I view 3 weeks without work as a feature, not as a problem. 3 weeks without work can mean real cash issues, especially for those who are just starting out in

by pathy 13y ago

> I view 3 weeks without work as a feature, not as a problem. 3 weeks without work can mean real cash issues, especially for those who are just starting out in freelancing. It may be nice to have a three week break but let's be honest, most would be terrified and be frantically hunting for work. Hardly a feature. >But I believe that a freelance should always keep at least six months of living expenses worth of funds in liquid assets. But if you have a six month emergency fund, then it may be a feature I guess ;). Many do not though.

nbouscal 13y ago
If you don't have a six month emergency fund, regardless of whether or not you're a freelancer, one of your top priorities should be building a six month emergency fund.
- pjungwir 13y ago
  I strongly agree with this. I freelance, and having the savings to cover slow periods is not just reassuring, it also helps me advance professionally. I feel safe passing on bad clients and insisting on my rate, because I'm not living check-to-check. I'm not saying you should keep your day job until you have a full 6 months, but you should have something, and you should aggressively save until you've reached 6 (or more). I also like to have one big (20 hours/week) project at a time, along with a bunch of smaller long-term relationships that bring in steady low-volume work. That means even if you're between big projects, you still have some work and some income. I don't think I've gone 3 weeks with truly zero work since I started freelancing.
pessimizer 13y ago
I'm working a corporate job now, and wistfully looking back to when I was freelancing 2 years ago, and could take a month off to travel when work was slow. Three weeks in a row with no work to do is like a dream. In life, living check-to-check is always a bad thing. Everything becomes an emergency; you can't wait for a better deal when making purchases, you have to take any work that comes along, you end up borrowing money...

by pathy 13y ago

nbouscal 13y ago

If you don't have a six month emergency fund, regardless of whether or not you're a freelancer, one of your top priorities should be building a six month emergency fund.

pjungwir 13y ago
I strongly agree with this. I freelance, and having the savings to cover slow periods is not just reassuring, it also helps me advance professionally. I feel safe passing on bad clients and insisting on my rate, because I'm not living check-to-check. I'm not saying you should keep your day job until you have a full 6 months, but you should have something, and you should aggressively save until you've reached 6 (or more). I also like to have one big (20 hours/week) project at a time, along with a bunch of smaller long-term relationships that bring in steady low-volume work. That means even if you're between big projects, you still have some work and some income. I don't think I've gone 3 weeks with truly zero work since I started freelancing.

pessimizer 13y ago

I'm working a corporate job now, and wistfully looking back to when I was freelancing 2 years ago, and could take a month off to travel when work was slow. Three weeks in a row with no work to do is like a dream. In life, living check-to-check is always a bad thing. Everything becomes an emergency; you can't wait for a better deal when making purchases, you have to take any work that comes along, you end up borrowing money...