Blog

Make More Money #1 – What You Should Know About Freelancing

By Debt.ca on September 13, 2013 No Comments

Getting out of debt requires a lot of discipline. Frequently the advice you hear is to cut spending, cut expenses, cut your lifestyle. What most people ignore is the possibility of just making more money.

Sure you can stop buying cappuccinos and cancel your top-tier cable package, but if you could earn an extra $500, $1,000, or $2,000 a month, wouldn’t that solve all of your problems?

There are several ways you can increase your income:

  • Negotiate a raise at work
  • Get a second job
  • Sell some of your stuff
  • Rent out your basement
  • Start a business
  • Start freelancing

Today we’re going to focus on freelancing. You’ll notice that ‘second job’ and ‘freelancing’ are separate items. This is because a second job is typically lower paying, and you won’t have as much room to increase your income to a substantial level.

What Is Freelancing?

At its core, freelancing is simply offering your services to one or more clients. Unlike employment, this is a business relationship where you’ll have much more input and control over the work you do. Unlike running your OWN business, you’ll probably have much lower overhead and startup costs.

What Service Should I Offer?

You already have a number of skills, talents, and interests that could all be turned into some kind of freelancing opportunity. That said, some areas are much easier to get into than others. Your fascination with mid-17th century Austrian theatre might make for some interesting dinner conversation, but odds are no one is going to pay to hear it.

What you’re looking for is something that people need, are willing to pay for, and that you can do well. Freelancing requires putting yourself in a business mindset, and at least at the beginning you may have to compromise on the types of jobs you take to get going.

From Pleasure To Business

Many new freelancers assume that just because they do something that other people get paid for, they should have no trouble getting started. Here are two common examples:

PHOTOGRAPHY

Thought-process: I have a decent camera and I like taking pictures. There are lots of professional photographers who get paid for their best shots, so I’ll do that.

Why you’re probably doomed: There are simply too many amateur photographers taking beautiful pictures for there to be a great opportunity for you. You’ll waste time buying better gear, better software, and more, and there STILL won’t be a market for your shots.

How you can make it work: Ask yourself what photographs people ACTUALLY pay for. Actors need headshots, real estate agents need house photos, and companies need product shots for their brochures. These people are willing to pay for a good photographer.

The lesson: Take your skills and find a niche that’s willing to pay for them.

WRITING

Thought-process: I love writing. Even though I haven’t published any of my short stories, they’re better than most of the junk I read. I’ll spend time talking to publishers and authors about getting my work published.

Why you’re probably doomed: Very few writers make it writing fiction. Although the internet is making self-publishing much easier, it’s going to be a long road. We’re aiming for quick-wins.

How you can make it work: Like photography, how can you combine good writing with people who are willing to pay for it? Websites are always looking for good content, so you could start by contacting blogs and offering to write guest-posts. A few articles a week on a few sites would be a nice chunk of cash at the end of the month.

You can also consider getting into copywriting, ebook writing, press release writing, etc.

Where To Start

The easiest services to offer are digital ones. Any service you can provide through the internet will have a lower overhead and less risk. Some examples are:

  • Copywriting
  • Article writing
  • Graphic design
  • Photo or video editing
  • Sound production
  • Sales
  • Marketing
  • Accounting
  • Video production/animation

Sites like oDesk, Elance, and Freelancer are full of people posting these types of jobs (and of people fighting to get them). Start browsing these sites in the categories that interest you and read exactly what people are looking for. If you find one category where you can say “Hey, I can do that!”, make a note of it.

Remember, you’re not looking for a new full-time job. Even a few hundred dollars a month is a great start. Be open-minded and think of every project as a learning experience.

Debt.ca

Admin


TFSA vs. RRSP: Where to Start Saving for Retirement

By Rubina Ahmed-Haq on January 23, 2017

After landing your first full time job the advice is often to start saving for retirement. Now it can be hard to convince a young person to put money away for an event that’s 40 years in the future. But what can be even more difficult is understanding where to save that hard earned cash….

Tackle holiday debt now

By Rubina Ahmed-Haq on January 13, 2017

The holidays are expensive. We know that. According to a recent survey from savings destination RetailMeNot.ca, the average Canadian spent almost $1000 this past holiday season on food, drink, travel and gifts. Another survey by PC Financial finds 77 per cent agree the holiday season tends to be more expensive than planned. If you went over…

4 Money Moves You Can Do To Start The Year Off Right

By Andrew Daniels on January 2, 2017

With 2016 in the review mirror, it’s time to turn our attention to the amazing year ahead, and see what 2017 has to offer. With all of the possibilities and opportunities it’s hard to know where to begin. To make the most of your money this year, make sure to get these money items off your checklist…

How to Set New Year’s Financial Goals and Actually Stick to Them

By Jordann Brown on December 27, 2016

As the New Year approaches many Canadians will begin planning their resolutions, and many of those resolutions will be financial in nature. Money-based resolutions are the third most popular type, yet only 19% of Canadians keep their resolutions for the entire year. That’s because setting a goal is one thing, but sticking to it is…

No Comments Leave a Comment  

Leave a Comment

Free Savings Estimate

How much do you owe?

$100,000

$5,000
$100,000
Live Chat
Welcome to our Live Chat
Agents are not available at this time. Please leave a message. Thank you.
First Name
Last Name
Phone
Email
Postal Code
Debt Amount
 
PHP Live! powered