Welcome to the following edition of the Freelancer Review! As all the time, Freelance Life Magazine brings you exciting stories and reviews of popular topics within the freelance industry. These include evaluation, commentary from one of the best services on this field, in addition to coverage of the newest trends, tools and resources for distant staff throughout the freelance ecosystem.
Regardless that it’s only a latest 12 months, there’s already rather a lot happening. You will not need to miss these great events recorded in the primary and second week of January.
Payment methods for freelancers: what it’s best to know
Source: Global Banking and Finance
It isn’t latest that freelancers get excited in regards to the payment because it is an indication of success and a reward for all their labor. Getting paid to your services is an important feeling that motivates you to maintain doing what you like. Payments give freelancers the boldness that their work has been recognized and appreciated, and that their effort and time has been valued.
On this interesting topic, Global Banking and Finance shares the most well-liked payment methods utilized by freelancers and what it’s best to consider when selecting the appropriate payment method for your online business.
Payment methods for freelancers
The article provides an summary of a few of the hottest payment options, comparable to bank transfers, e-checks, and online payment platforms like PayPal and Venmo. He also mentions that several corporations are increasingly using specialized web sites and platforms comparable to Upwork and Fiverr to administer payments for freelancers.
From this, I conclude that selecting the appropriate payment method is vital for each the corporate and the freelancer, because it affects the benefit and speed of transactions, in addition to security and compliance.
Paying Freelancers: Approaches and Best Practices
That is for businesses that want to ascertain a smooth and efficient process for paying their freelancers. Let me suggest you concentrate on aspects comparable to the freelancer’s location, preferred payment method, and any applicable legal requirements.
The importance of clear communication and documentation, including drafting a written contract and specifying payment terms, invoicing procedures, time-setting and dispute resolution processes, can’t be overemphasized either.
Overall, the article provides a comprehensive and informative have a look at freelancer payments, providing readers with an excellent understanding of the assorted payment methods available and one of the best practices for paying freelancers.
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An increasing number of Americans are selecting to work as freelancers within the face of the struggle to seek out employees
Source: bank rates
This text by Gobankingrates could be very exciting because it discusses the rise of freelancing in the US in 2022. In accordance with a survey by Upwork, 60 million US staff were freelancers in 2022, representing 39% of the workforce, up 3% from the proportion of people that worked as freelancers in 2021.
The study also found that freelancers reported greater satisfaction in areas comparable to work-life balance, control of working conditions, and the liberty to do work that suits them, in comparison with their non-freelance counterparts. Moreover, 74% of freelancers said that working as a freelancer gave them more control over their lives overall, and 69% said that they had a healthy work-life balance. Who doesn’t want it?
Greater than only a trend
Experts suggest that freelancing is greater than only a trend, and its popularity will grow in the long run. Upwork’s VP of Talent Solutions, Margaret Lilani, noted that “we’re seeing this major shift within the workforce where highly expert professionals are finally questioning points of old, traditional ways of working.” Lilani added that it’s like people taking a look at freelancers who’ve more flexibility and control and asking, “why cannot their work be like that too?”
Furthermore, the study found that 73% of freelancers surveyed said their work was viewed in a more positive light (up from 68% in 2021), with younger generations exploring freelance opportunities greater than their older colleagues.
It’s secure to say that as more people realize the advantages of freelancing and technology makes it easier to work independently, it’s likely that more people will proceed to reap the benefits of freelance opportunities. Welcome to the long run!
Find out how to get back into freelancing after the Christmas break
Source: Creative boom
This particular Creative Boom article is personal to me since it speaks to me in a technique or one other as I discovered it hard to depart my comfortable couch and Christmas leftovers. This interesting read offers freelancers different strategies for coping with returning to work after the Christmas break.
The author begins by mentioning how many individuals find it difficult to return to their freelance routine after the vacation season and the way certain strategies can assist. Next, the article presents a few of one of the best suggestions and tricks from the Creative Boom Twitter community.
Start-up strategies
The primary strategy discussed is to set yourself a latest challenge. The concept is that by starting over with a special medium or learning something latest, the pressure to return to your usual work routine will likely be relieved, potentially resulting in inspiration. The second strategy is a smoother return to work. This might be done by taking the primary week of January off, or starting the 12 months with personal or self-promotional work, quite than immersing yourself in client work.
The third strategy is to blow away the cobwebs by going outside and being lively. This might be done by going for a walk with work colleagues or by joining local groups in the neighborhood. One other good idea is to work in a co-working space for at the least two weeks to ascertain a routine and work attitude. Overall, these are helpful and practical strategies for freelancers who’re having a tough time getting back into their work routine after the Christmas break.
Finally, it’s an important resource if you happen to’re searching for ways to kick off the brand new 12 months with a bang and gain momentum and productivity.
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A lie about fringe culture and freelancing
Source: bitch
I’m sure you’ve got seen those long Twitter threads or weird YouTube channels about the most popular side cases try to be doing and the way they’ll make it easier to retire early. Well, here’s SOUK’s try and pull back the veil on the lie about fringe culture and freelancing. What’s true and what’s hype?
The impact of latest technologies and software on the event of side industries
The independent shooter market is projected to generate a major amount of economic wealth in the long run. This might be attributed to the event of a spin-off industry with latest technologies and software that make it easier for people to create and sell products, connect buyers with sellers, and monetize their talents through digital platforms.
Actually, in line with Henley Business School, one in 4 people within the UK and 44% of Americans have some kind of money-generating commitment along with their typical job.
The collapse of the social contract and its impact on the rise of the side-hustle culture
The article also notes that the true motivation behind the emergence of the casual culture is the failure of the social contract that offered a stable wage in exchange for 40 hours of labor per week. Many staff receive little in return for his or her work and switch to side activities to complement their income and gain a way of control and empowerment.
From this I conclude that the culture of working on the side will develop so long as the standard model of employment doesn’t provide adequate income and security.
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For freelancers, a latest federal retirement saving aid
Source: NY Times
Distant staff face many challenges in terms of saving for retirement. This Latest York Times article explains how the Secure 2.0 Act, a latest retirement law signed into law by US President Biden in December 2020, can assist economic staff.
In accordance with research by the Pew Charitable Trusts, salaried employees often wouldn’t have access to workplace retirement plans available to full-time employees.
The challenges distant staff face in saving for retirement
Fluctuating income, short-term expenses and emergencies are common problems for freelancers, which normally make it difficult for them to avoid wasting for long-term retirement.
How the Secure 2.0 Act can assist Gig Economy staff save for retirement with The Saver’s Match
The Secure 2.0 Act introduced “Savings Match”, which is a latest incentive to assist low- and middle-income staff construct savings by providing a direct government contribution to their retirement account.
Under the brand new program, the federal government can pay 50% of an worker’s contribution into an organization or individual retirement account of as much as $2,000, with a maximum of $1,000 per person. Eligibility for this system is predicated on income.
Overall, I feel the saver match is a simpler way of encouraging people to avoid wasting, but this system is not going to be available for one more 4 years while the small print are worked out. Within the meantime, if you happen to’re a concert employee, you’ll be able to contribute to an IRA yourself by establishing automatic transfers out of your checking account to that account to make it easier to save.
Moreover, some changes to the Secure 2.0 Act that might help non-traditional staff start this 12 months include states which might be increasingly offering IRA programs for traditional staff who’re ineligible for retirement plans due to their work.
Post Freelancer Review: January 2023 Part 1 appeared first in Freelancelife magazine.