Money Hacks

10 Reasons You Should Consider Self-Employment

When we were young, we were told we could be anything we wanted when we grew up. What we weren’t told was that growing up meant dealing with traffic, difficult coworkers, and someone else’s organizational structure. Even if you landed your dream job, you might have some complaints.

For many people, the “work dream” now consists of working from home and being your own boss. It might sound impossible, but more and more people are making the switch each year. In 2017, 40.9 million Americans were self-employed and that number is expected to keep rising.

If you think working from home sounds dreamy, you’re not alone; being self-employed comes with a lot of benefits. Here are just a few to get you motivated. 

1. You can be your own boss

Yup, you guessed it. Being your own boss is a big reason so many, people decide to make the switch. Somethings might feel overwhelming, but being in charge also comes with a feeling of empowerment.

You control every part of your business. Knowing that you finally control the direction you want your career to go in is an awesome feeling.

2. You control your income potential

You can set your own rates and work as hard as you want. | Submitted by Remoter Staff

Time is money, and when you work for someone else, you are making them richer. You are giving them your time in exchange for some of their profit. Not so when you’re self-employed. Your time, your money; you can choose to invest as much time in yourself as you would like. 

You already know what your time is worth. Don’t let someone else decide it for you.

3. Working remotely can save you money

Being self-employed and working remotely saves you money. Your commute alone can save hundreds of dollars each year. You might also save money on parking, eating out, and expensive work clothes.

4. Self-employment has tax advantages

You might get better tax breaks when you’re self-employed. | Submitted by Damien Housseau

One of the biggest 2018 tax changes is the 20 percent business deduction. You can save quite a bit of dough if you’re eligible for this deduction (and most self-employed people are). For specifics about this tax break spend some time on the IRS website.

If you’re self-employed, you may also be able to deduct your home office. This is excellent news for people who work from home and dedicate part of their apartment or home to a home office.

5. You can work from anywhere

If the idea of exploring every coffee house in Seattle sounds amazing, you can do that and still get your work done. Being self-employed gives you the chance to work remotely from virtually anywhere. Travel is a major benefit for the self-employed. 

Some remote workers might prefer to work from home. But regardless, if you’re self-employed and a parent you can have the best of both worlds. 

6. You can follow your passions

Maybe you have always wanted to be a writer, or you found a niche market that excites you. Whatever passion you want to explore is yours for the taking when you’re self-employed.

7. Enjoy a better work-life balance

Travel is a major reason to choose self-employment.| Submitted by Remoter Staff

When you work for someone else you work on their schedule. You might find that you have to miss out on family events or vacations. Depending on the company hours, you might not have time for self-care and unplugged time with your family and friends.

Working for yourself means that you can choose which hours you need or want to work. Take all the holidays off, go to all the school events, get your life back!

8. Control over your life and career

When work gets stressful, it might feel like we have little control over our careers. At its worst, stress may spill over into our personal lives, impacting relationships, health, and happiness. Being self-employed comes with some stress, but you will get your sense of control back.  

9. Wear what you want

If you’re not feeling the mandatory dress code your current employer requires, clothing might be a reason to consider self-employment. When you work for yourself, you decide what you want to wear.

In addition, you might find that self-employment saves you money. Professionals that need to buy expensive dress clothes spend a lot of money not just on the clothes, but also on dry cleaning. If every day is casual Friday, you could save some big bucks.  

10. Like who you work with

Work with people you love. | Submitted by Leilani Franklin-Apted

Many people gather around the water cooler hoping to hear a little office gossip. Others might be over the drama altogether. When you work for someone else, you have to deal with many different kinds of people. Some might turn into lifelong connections. Others might grind you down. If you are self-employed, you get to choose the people you work around. 

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