8 Investment Hacks for Rockstar Freelancers
These investments hacks for rockstar freelancers will greatly help you work smarter, be more productive, and give you security as you engage in your freelance work.
According to the results of Upwork’s commissioned survey released in September 2020, around 59 million Americans joined the freelance industry back in 2019. This figure accounted for 36 percent of the total workforce in the US, which generated a staggering $1.2 trillion in revenues.
Meanwhile, Flexjobs noted a rise in freelance job openings last year, which it predicts will continue well into 2021.
Such bright notes are what make recruitment platforms such as Glassdoor proclaim that the future of work will be through remote means, or simply, online freelancing.
Now, if you’re among the millions of individuals currently in this rapidly-growing industry, you have to be wise and start investing in essential things soon to achieve both success and personal security. Below we shared eight things you should invest in.
Here are eight (8) investments hacks for rockstar freelancers:
It’s critical to have a workplace that is conducive to a productive run. Your place should, preferably, have soundproofing (particularly if you need your client to hear you clearly), be well-ventilated, and be equipped with a comfortable chair and table.
It doesn’t have to be super fancy; it only needs to make you feel comfortable at all times, so you can perform optimally and deliver the results your clients need.
An insurance plan and medical coverage
Keep in mind that freelance workers do not enjoy the same benefits that permanent employees do, such as health cards and dental benefits. As such, you should allocate a portion of your regular earnings to purchase a life insurance and investment plan, plus a health card that has dental coverage. Remember that you can get sick any time, so you should invest in these things to have some sort of fallback should the worst happen.
Computers and peripherals
Aside from your workplace, you should likewise have a personal computer with specifications that correspond to your job’s requirements. You should have a desktop computer (with a wireless keyboard and mouse set) or a laptop, Bluetooth speakers (for voice calls and music), and an external hard drive for your data.
If you can’t afford a high-end PC or laptop, you can just buy a decent one and then gradually invest in more powerful computing devices as you earn more and have enough savings.
One of the worst nightmares of any freelancer is his or her personal computer and internet connection suddenly acting up, thus leading to failed deliverables. As such, you must invest in backup devices including a tablet, smartphone, power bank, mobile wifi or mobile data plan, and a step-up cable to power up your modem.
They may seem like overkill and an unnecessary expense, but if you’ll heed the advice of long-time freelance workers, then you’ll realize that they are worth the money you’re letting go of.
High-speed and reliable internet connection
Since you’re working from home, clients would expect you to be more relaxed and equipped to deliver commendable results and hit deadlines each time. And you can’t expect to do so if your internet connection is as fast as dial-up. For clients, this is just unacceptable.
Knowing this, you must invest in and choose a reliable internet service provider (ISP) that can provide a fast and reliable internet connection. You should ask around for recommendations and do your research to check for customers’ reviews to be sure that you’re getting the right ISP. Remember that most ISPs offer lock-in periods, so you should be very picky lest you want to regret your decision later on.
Practically every freelance worker these days has at least one app for collaboration and communication purposes. Among the most widely-used productivity apps include Zoom, Google Meet, Skype, Slack, and Webex. There are other apps out there that you can download and use for free, so be sure to install them on your mobile device or personal computer.
Cloud computing subscription or account
Aside from an external storage device, you should also invest in a cloud computing account to have another layer of data protection. There are plenty of paid ones out there that you can avail of for a few dollars each month, but you can always use the free ones such as Google Drive.
With a virtual private network (VPN) account, you can safeguard your privacy against online snoopers whenever you use the internet. Just like cloud computing, you won’t have a hard time finding a VPN service provider that can offer great online protection for a few bucks a month.
The COVID-19 pandemic gave a shot in the arm for freelancers and remote workers across the world. These investment hacks for rockstar freelancers should help you make everything worthwhile in this industry.