There are affiliate links in this article which means, at no additional cost to you, we could receive compensation for our recommendations. You can read our full disclosure policy.
What Does It Mean To Be Self Employed?
Being self employed is often easier said than done. It is almost every individual’s dream. Most of us like to be our own boss, and not have to follow direction from others.
Self employed is defined as some one that works for one’s self. So you are your own boss, rather than having to report to an employer (manager, supervisor). Being self employed means you work for your self, and make a living. So if you don’t get any work done, you will not be earning. However, being self employed, has its own advantages and disadvantages.
Advantages And Disadvantages Of Self Employment
While self employment is almost each individuals dream, it still has its pros and cons. Below I will list what the advantages and the disadvantages of self employment are:
→ Being self employed means you are your own boss.
→ You make your own schedule, based on the type of life style you want.
→ You have full control of your finances. For example, you can take a vacation whenever you feel like you need it. You don’t have to wait to get approval from your boss to get time off.
→ You have to ensure that you always have work, in order to cover your day to day and monthly expenses.
→ You have to do all the paper work when taxes time comes around.
→ Less benefits. For example, when self employed, you would need to save each year to go on a vacation. Moreover, you would need to buy your own dental, life, and disability insurance.
Different Types Of Self Employment
→ Sole Proprietorship –
Sole proprietorship is simply one owner. When filing for income taxes, sole proprietorship is considered a type of business, while self employed is considered an independent contractor.
→ Partnership – In a partnership, 2 or more owners are involved. There are two types of partnership, general and a limited partnership.
Self Employment Job Ideas
There are so many self employed jobs out there, but below I have a list of self employment ideas for introverts. There are self employed jobs that require no qualifications. You can read more on that below.
⇒ Academic Tutor
If you are really good in certain subjects that kids struggle with. For example, math, science, or any other subject. You can become an academic tutor, and help students and kids. You can charge by the hour.
If you have a lot of patience, and love to work with the elderly. You can also charge by the hour, by helping elderly get their daily errands done. A lot of people are turning to such thing, because they prefer to stay living in their own homes, than having to move to a care home, which can be costly to them.
⇒ Free lance
There are so many types of free lance jobs out there. For example, if you love to write, you can become a free lance writer. Also, if you are into web design and development. You can become a free lance web designer. With this type of job, you will charge based on the project you are interested in.
RELATED: Make Money As A Freelance Writer
If you love to write, and have a passion about a certain topic. You can create your own website. Creating a website is very simple, and is affordable. There are various hosting companies, which you can host with. The best one out there, which is reliable and affordable is actually Blue-Host.
When you start your own blog, the opportunities are endless, as there are so many different ways to monetize your website. This could only mean more revenue for you. And you can do all that while blogging from your living room, and staying home with your kids.
We have reached the end of our post for today. If I ever say anything that captures your interest, please do get involved within my site. If you have anything interesting that you want to share or any opinions of any of the content I have created on my site, please do not hesitate to provide feedback.
If you ever need any feedback or support, I would be more than happy to connect. Simply leave your comment below and make sure you visit my site regularly as I am always updating it.