Up until this year, I’ve only ever had one job at a time. The idea that I could make money outside my main employment baffled me. But, since I started this blog, I’ve been able to expand my revenue stream to include 1) money I make from writing under my own name, and 2) freelancing. These two additional income streams have helped me pay down debt, reinvest in myself, and pay for infrequent expenses such as movers when I moved into a new apartment two months ago.
So why did I say goodbye to my recurring freelance client who has been nothing but wonderful and has offered me as much as work as I’d like?
Time. It was taking up my most valuable resource. Although I was only writing one blog post per week for them, it resulted in precious time away from working on my own writing, recording my podcast, and spending time with my loved ones. Saying yes to one thing means saying no to another. Simply put, it was too time-consuming.
Money. While the money was decent and, even better, consistent, it was nowhere near the amount of money that I make writing under my own name. In some cases, what I would make from freelancing each month would be equivalent to what I would earn under my own name each week. Eventually, it seemed to be more financially sound to double-down on what was working – and that was writing about issues that moved me and connecting with those who find value in my writing.
One Less Boss. I already have two wonderful bosses at my main job, and I don’t particularly need another. Yes, freelancing has its perks: you can work remotely, the pay can be great, you can (often) work for multiple companies/organizations, and so forth. But there are downsides: deadlines that you didn’t create but are forced to adhere to, edits that you disagree with, and demands that are non-negotiable. Luckily my main job provides healthcare and retirement benefits, because being a consultant or freelancer doesn't entitle you to those either.
Yes, I’ll miss the security of another income stream, but my finances have never been better. It’s not because I make more but rather I spend with intention. Unfortunately though, money can’t buy time. And time is the most precious resource of all.
In the limited time that I have available, I want to focus at excelling at a few things rather than half-ass several things. Diversifying your income is important, but only if it doesn't come at a cost of sacrificing things that matter more.
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