Working from home is not just an option, it is a way of life. Overhauling the way you work can either make or break your career and sanity. Follow these helpful tips to get you started:
One of the first steps to straighten out your finances as a freelancer is to know what your filing status is. In the Singaporean tax code, there is a huge difference between employment and small business types. Knowing which one you fall under on will save you in the long run. The government judges your status based on whether you take some risk of doing business or you get a share of the profits.
For instance, you may think that you are subject to the self-employment tax as a sole proprietor of a company. However, the law may consider you as an employee if you only have one client who supervises you, dictates your regular hours, pays you per hour, and gives you benefits.
As a freelancer, it will help to develop both long-term and short-term goals. The former helps you to create a direction, a purpose, and a will to push forward. Long-term goals enables you to improve your money management and increase your job satisfaction despite working from home. For example, in 3 years time you can expand your business to reach international clientele.
While, short-term goals give you achievable targets. These targets will help you pay the bills and track your cashflow.
From my experience of working from home, I noticed how important it is to keep everything organized. You must have time management skills and motivation to finish each task. For example, you may set defined working hours when you work from one company. Try to avoid phone calls or emails beyond your regular schedule.
It is easy to get trapped into working any time and any day when you are working from home. Devise a plan to balance out your work and personal time to maintain your sanity. Every morning, you may plan a couple of breaks such as half an hour for coffee drinking or fifteen minutes to go outside. In reality, you must pull out your body from the laptop and have brain breaks.
Working from home can be isolating for most people. When you are used to being in an office filled with lunch buddies, it can be a significant adjustment to leave everything behind. This is why you must meet others on a regular basis. Meet your clients face-to-face, socialize with a group of people who share the same hobby, or invite your office friends for dinner.
Working from home saves you from a lot of awkward and embarrassing social encounters. But, you still need to interact with others to keep your mental health in tact.
As you are working in the comfort of your own home, things can get mundane and exhausting. Your life can be a series of completing tasks without a weekend to look forward to. Be different!
Allot at least two days to enjoy yourself without having to think of work. Spend time with family and friends during your weekend sanctuary. Otherwise, you are comparable to the lifestyle of graveyard or red-eyed shift workers.