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Break the Cycle of “Feast or Famine” Now!

Break the Cycle of “Feast or Famine” Now!

For many freelancers, the “feast or famine” cycle is a common one. For a while, you get a big job that takes up all your time. When the job is finished, however, you are back to where you started, searching for new work with zero income. Getting out of this cycle is one of the biggest challenges for freelance workers. For people who love working on their own however, the freedom of schedule, and the ability to build their own businesses, makes freelance work still an attractive alternative.

If you approach freelance work with the right attitude, you can avoid many of the problems associated with freelance work and maintain a healthy work/income balance that will keep you going throughout the year. As a freelancer, time is money, so it is important to manage your time and finances effectively to maximize your income. Follow these tips to avoid the feast or famine cycle in your own freelance endeavors.

I. Networking

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For many freelancers, networking is the part of the job they hate the most, but proper networking is what can save you from times of famine. Always keep in touch with past clients and attend as many networking events for your field as possible. Connect with anyone and everyone that you meet and spread the word about your freelance business. This will help people think of you when they need a service, and will lessen  the effort that  you need to put into cold calling by having potential clients approach you first.

II. Cold Calling

Cold calling is a part of any freelance business, whether you actually do it on the phone or not. Freelancers have to contact companies and actively try to find work. Many freelancers only look for new work when their current job has ended, but a focused search for new work even when fully employed will help prevent gaps between jobs. You can always hire a helper to take over some of your extra work if you get too much at once, but if you go without work for several weeks or months, that is potential income that you will never recover.

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III. Search for big clients

Bigger clients are typically willing to pay more. The bigger the client, the larger the project usually is and the higher the salary. Often, one job from a large client can pay the same as multiple jobs from smaller clients. Manage your time wisely and search for clients that will pay you the most for your efforts. Big clients like to see professional portfolios and past work, so make sure you have an impressive portfolio and resume that helps you stand out from other freelancers.

IV. Manage finances

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Financial management is one of the hardest parts of freelance work. Not only do you have to pay a high tax rate for working as a freelancer, but managing invoices and payments can also take up a large part of your time. Many freelancers hire a separate financial advisor to handle all of the invoices, billing, and accounting for the business. This helps you maximize your time by spending it on income-producing work, rather than the side of work that will not bring in any more money. You should be very careful about taking out any loan because your irregular income patterns make it really hard to plan long-term; a short-term payday loan is much more suited to your lifestyle.

V. When you get in a bind

If you follow the above steps, you will eliminate much of the dead time that many freelance workers see from time to time. However, even with outstanding effort, it is possible that you may experience a gap in income-producing work. When this happens, you don’t have to give up. There are many options that can help you sustain yourself during periods of low-income. Set aside some money from each check while you bring in money to help cover the expenses between jobs. If you fall far behind, a short-term loan is a great way to help sustain your business until you find paying work again.

All of these tips can help prevent the feast or famine lifestyle of the typical freelancer. Not only will you have a steadier income throughout the year, but you will also appear more professional to potential clients, which could lead to additional work. Follow these tips and you will stay on the path of steady work while increasing your income.

Featured photo credit: This time, we go on the count of one via Shutterstock

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Last Updated on August 15, 2018

30 Fun Things You Can Do This Summer Without Spending Much

30 Fun Things You Can Do This Summer Without Spending Much

Summertime can be a real strain on your wallet. The sun is out, there are people to see, places to be; it’s no wonder you might be short of funds during these sunny months. Not everything has to cost you an arm and a leg.

Take some time to go through this list of 20 cheap summer activities and make some realistic goals to complete as many as you can.

Video Summary

1. Visit a strawberry festival

Summer is prime time for tasting strawberries. More often than not, an area that grows strawberries will have a strawberry festival. Indulge yourself in strawberry pies, jams, cakes and more!

2. Have a picnic

Take your partner or your family to the local park and enjoy a relaxing picnic. Designate each person to bring one food item of their choice to add to the fun.

3. Camp in your back yard

    The summer heat can sometimes make it hard to sleep. Why not enjoy the heat outside in the yard? Pitch a tent or gaze into the night sky.

    4. Take long walks

    Discover something new where you live. Take the afternoon off from your chores and go for a long walk. You may be surprised by what you discover.

    5. Break a world record

    Breaking a world record doesn’t have to be time-consuming. You could even break one on your lunch hour. Give it a go!

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    6. Go on a bike ride

    The number of bike paths on roads in big cities has increased dramatically over the years. Take advantage, and enjoy the summer breeze.

    7. Join a gym class

      The gym is not everyone’s idea of a good time, but why not go with a friend a join a class? Spinning, yoga and step classes are always more fun with friends, and a lot of gyms allow you to pay-as-you-go.

      8. Find a new hobby

      The summer is the perfect time to find a new hobby. Serotonin (our body’s natural “happy” hormone) is produced by the sunshine and will be at a yearly high, which is great for when we want to tackle something new.

      9. Join a sports team

      Not all sports teams are competitive and require huge amounts of your time. Join in the fun with like-minded people, get fit, stay healthy and make some friends along the way.

      10. Make a slip ‘n slide

        Gather your friends, some plastic sheeting, a hose, washing up liquid if desired, and make a huge slip ‘n slide just like these guys. Granted, yours won’t be as big, but you get the idea… it’s fun!

        11. Make a treasure hunt for your kids

        Today’s digital world sees our children more often than not playing inside than outside. Why not create a sense of adventure by making a treasure hunt? Only rule? It has to be outside.

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        12. Visit a free festival

        Towns and cities are awash with free festivals, with themes from film to science. Scout your local area and discover something new.

        13. Visit the zoo

          Let’s face it: we love animals. While browsing news websites and social media networks you’re bound to come across a few pictures of cats. Take a trip to your local zoo for a better experience.

          14. Take a road trip

          Enjoy the open road with a few friends and take a road trip somewhere–anywhere. Just go out and enjoy the sunshine!

          15. Play ultimate frisbee in the park

            Frisbee is always great fun down the park, but why not turn it into more of a competitive sport by playing ultimate frisbee?

            16. Make your own ice cream

            Ice cream is a very versatile dessert. Make a sandwich, enjoy a cone, or simply just enjoy a bowl full. Better yet, making your own ice cream allows you to create any flavor you want.

            17. Invite your neighbors over for a BBQ

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              When was the last time you invited your neighbors over? Do you even know them? Now’s your chance. Just ask each person to bring a food item so costs don’t mount up for you.

              18. Get a summer job

              For many students, summer is the time for relaxation and fun. But who said earning money and being productive isn’t fun? You only get out what you put into a situation.

              19. Attend a charity event

              Attending a charity event is a great way to raise funds and awareness for a cause, meet new people, and generally have a good time. Search for your local charity event today.

              20. Visit a national park

              National parks are a great way to explore nature and learn something new. You could even volunteer and make a difference in helping restore natural habitats.

              21. Visit your local comedy club

                Local comedy clubs are extremely underrated. They are cheap to attend and no doubt you’ll have a barrel of laughs.

                22. Make your own hammock

                  Hammocks are very relaxing, are perfect for summer afternoons and are surprisingly easy to make.

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                  23. Read in your new hammock

                  Now you have your very own hammock, the only thing left to do is enjoy it. Grab your favorite book and read to your heart’s content.

                  24. Watch a movie outside

                  Movies are great. Relaxing outside in the evening is great. Put them together and you’ve got a perfect combination. In D.C, Maryland and Virginia this summer, for example, you can enjoy a huge number of movies outside.

                  25. Take a hike

                    Hikes are a great way to keep fit and see more of Mother Nature. There are countless trails available for you to explore. Why not try some this summer?

                    26. Learn how to fly a kite

                    As a child, you probably had a kite and haven’t touched it since. Why not dust it off and attempt to fly it? It’s tricky, but well worth the challenge.

                    27. Work out at the park

                    American cities are full of parks with ample space for a work out session. No doubt you’ll be happier to work out in the sun rather than a crowded gym.

                    28. Take your dog to the beach

                      One of the many joys of owning a dog is taking him or her for long walks during the summertime. This joy is enhanced when visiting the beach, for both you and your dog.

                      29. Make a summer smoothie

                      Healthy, delicious and perfect for the summer. Not only that, there are countless recipes ready for you to try.

                      30. Attend a free yoga session at the beach

                      No experience needed and all skill levels are welcome. Take yourself and a buddy down to the beach and try some yoga. You’ve got nothing to lose!

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