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Getting Paid Without a Job – Self Employment

The idea of getting paid without a job has a very appealing ring to it.  A number of people become self employed solely so that they can ditch their box and the office cubicle.  There are a number of benefits to doing this, but also some factors that need to be carefully considered as well.  Some people thrive in an environment where someone is constantly looking over their shoulder, which means that they wouldn’t likely do well on their own.  Here is a closer look at what getting paid without a job really means and a quick introduction to the benefits of self employment.

The idea of getting paid without a job doesn’t mean that you don’t have to do any work at all.  Instead, it means that you don’t have a traditional 9 to 5 and you don’t get paid per hour.  Instead, you earn exactly what you are worth, whatever that may be.  Additionally, this means that you can have a lot of different sources of income, rather than just one employer.  The most common example of someone who gets paid without a job is a freelancer.  They take on projects and get paid for the work that they do on each project.  The reason that it isn’t considered a traditional job is because they get to choose what projects to accept and when they want to work on them.  If they get a bunch of high paying projects, they could take a month off of work and no one could say anything about it.

What Are the Benefits of Getting Paid Without a Job?

The biggest benefit of getting paid without a job is the freedom to do whatever you want.  If you don’t wake up and don’t want to work today, then you don’t have to.  On the other hand, if you get into the zone and want to work for 12 straight hours, you can.  Another benefit of doing this is that you get to set your own rate of pay.  If you don’t think someone is going to pay you enough for something, then you can simply say no.  Finally, you are in complete control over your future.  You can do whatever you want, however you want.

2 Quick Things to Think About With Self Employment

The most important thing to consider before you decide to try getting paid without a job is whether or not you can handle the responsibility.  A big concern for some people is not having a predictable income.  When you first start out, there is a good chance that there will be some weeks or months where you aren’t making much money.  This can be very stressful, so make sure that you can mentally cope with this happening. While it may be tempting to establish and utilize new small business credit cards to keep yourself afloat, you can quickly get yourself into trouble if you don’t keep your spending habits in check.  A credit card is a good way of keeping track of your business expenses and taking care of short term cash flow issues, but your focus needs to be on generating income.

You should also consider implementing a two pronged approach regardless of how you plan on generating income.  The first strategy is making money directly for whatever you do.  These are often one-time payments for a specific action.  The second part of the strategy is often overlooked, but the most important piece of truly getting paid without a job.  You need to find at least one source of recurring income.  This is income that you make no matter what, over and over again for something that you did once.  A common example of this is network marketing.  You recruit people to your downline and then get paid every month for actions that they take, such as making a purchase or recruiting others.  Your one action is recruiting them and you get a consistent recurring income from it.

Getting paid without a job is an excellent solution for most people.  However, make sure that you really think about what it takes to be self employed and have your own home business before you get started.

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