Amid layoffs, many are considering freelancing or part-time options.

Not many people will find freelance comforting. You have to be competitive with pricing bids in order to win projects (in case you are registered in popular freelance websites), and gaining reputation as a subject expert can take years. You could still tread this path nonetheless, but it accompanies other challenges too.

Some clients do not pay you on time, while others dodge full payments. Some customers will find loopholes in your work delivery to refrain payments that even bypass a freelance platform’s meticulous agreements.

Part-time implies that your work-commitment is officially less than 8 hours a day. There is an advantage for companies to do this. They need not pay for your insurance or retirement benefits. Your salary gets credited on time so there is a sense of security.

It is imperative to budget your monthly financial commitments and exercise options on freelancing or part-time work. You could prioritize part-time work, and experiment with freelancing depending on time-flexibility.

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