As for anyone else, credit cards can be a great asset for freelancers. It lets them purchase much needed equipment and supplies, and pay for any other important expenses without having to carry large sums around.
On the other hand, again as for anyone else, credit cards could turn out to be a liability. Despite credit limits (or perhaps because of them), the owner of a credit card may spend like there’s no tomorrow, and run up huge bills that will limit his financial versatility.
This is why debit cards can be great for freelancers who suffer from poor financial management. A debit card won’t eliminate the tendency to spend beyond means, but it still makes that scenario less likely. It comes with the convenience of paying with plastic, while making sure that the owner won’t spend more money than he has, since a debit card is tied to his bank account; if there’s no money in the account, he won’t be able to buy anything.
Of course, it’s quite possible that a debit card user will drain the bank account and leave himself with no money. But it’s also quite possible to maintain two bank accounts, transferring money from the main account to the debit card as the need arises. This process also keeps the freelancer aware of how much he has left, meaning he can abort transfers if he’s low on funds
In short, a debit card can be convenient as a credit card, but allows certain controls that make sure you won’t fall into the feast–famine spending pattern.
Working at Home Saves You a Lot
I’ve barely scratched the surface about the advantages of working at home. And even if they’re pretty obvious (to me at least) they deserve expounding:
Time Saver. For office workers, the daily commute is a necessary evil. To make a living, they have to spend some time to do so. Some of them take two hours—or more—to head to the office. And don’t forget the time needed to go back home. Those who work at home simply have to get ready for the day to start working. If corporate employees can go through the morning routine in 20 minutes, how quickly do you think contract workers can begin getting things done?
Money Saver. The daily commute always involves money. Whether you pay for fuel or the bus fare, you pay. Some employees spend half their salary for transportation. Walking to a home office is free, and home cooked meals can be a lot cheaper than eating in a restaurant (even an employee’s canteen).
Sanity Saver. Fighting through crowds of cars and people can be very stressful; not really the best way to start the day. Home workers always avoid the rush hours, since they don’t have to leave for work. Even if they have to go out, they can do so when the traffic isn’t that bad, since they have better control over their schedule.
Reputation Saver. Office workers need to highlight their accomplishments. Those who fail to do so may gain a completely unwarranted/distorted reputation. In other words, they have to play the political game. And constantly managing how they come off to their officemates requires efforts they could’ve devoted to work. The house is a less competitive environment, where freelancers simply focus on what needs to get done.
Environment Saver. People suggests that working at home cuts down pollution, and I agree with them. Since you don’t have to travel so much everyday, that’s less energy used.