Gig Economy: Gigs or Gloom?

In recent years, the rise of gig work has been one of the most significant changes in the global workforce . From Uber drivers to freelance writers, more and more people are working outside the traditional nine-to-five employment model. This article will explore the impact of the gig economy on the workforce, the economy, and society as a whole. What is gig work? Gig work, also known as freelance work, refers to any type of temporary or freelance work , typically arranged through an online platform or app. Gig or contingent workers are often paid per task or project rather than receiving a fixed salary or hourly wage. Examples of freelance work include driving for ride-sharing services such as Uber or Lyft, delivering food or packages for services such as Grubhub or Postmates, and providing freelance services such as graphic design or writing. This is often characterized by flexible work arrangements, with workers able to choose their own hours and work as much or as little as they like. However, it is also typically characterized by a lack of job security and benefits, as contingent workers are not classified as traditional employees and do not have access to the same protections and benefits as traditional workers. How has gig work impacted the workplace? The gig economy has given rise to contingent workers in the workforce. These workers are oftentimes not considered employees of an organization but make it their duty to offer their services to business owners. Here are ways in which the gig industry has made an impact on the labor market: 1. Flexibility and Autonomy One of the biggest appeals of freelance work is flexible work arrangements and autonomy. Gig workers have the freedom to work when and where they choose, allowing them to balance work and personal commitments more effectively. For some, it provides an opportunity to pursue their passions or start their own businesses. This level of autonomy can also provide a sense of empowerment and control over one’s work life, which can be incredibly empowering. 2. Income and Financial Stability One of the benefits for gig workers is that it can provide a reliable source of income for those who might otherwise struggle to find work. This is especially true for those in disadvantaged or marginalized communities, such as people with disabilities or those with criminal records. However, while freelance work may offer a flexible income stream, it is often characterized by unstable earnings and a lack of job security. This can make it difficult for contingent workers to plan for their financial futures and access benefits such as healthcare or retirement savings plans. 3. Impact on Traditional Employment The rise of freelance work has challenged traditional employment models, with more people opting for the flexibility and autonomy offered by it over traditional nine-to-five employment. This shift has implications for both employers and employees, with many businesses struggling to attract and retain talent as a result of the allure of freelance work. Traditional employees […]

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6 Signs You’re Ready to Start a Full-Time Freelance Career

Readers like you help support MUO. When you make a purchase using links on our site, we may earn an affiliate commission. Read More. Are you ready to start a full-time freelance career? Freelancing can be scary, especially if you’re used to a regular income and schedule. But freelancing is also one of the most fulfilling and lucrative jobs today. Consider these factors if you’re still on the fence about starting a freelance career. 1. You Know the Role You Want to Pursue Freelancing is a broad field. For instance, you might want to become a writer. But will you focus on SEO content, copywriting, ebooks, email, white papers, grant writing, or blogs? Let’s say you decide to become a blogger. You’ll still have to consider the best blogging niches for beginners . Knowing the role you want will help ensure a consistent flow of income as a freelancer . You can market yourself better and dedicate your time to professional growth in a specific industry. It will also be easier for clients to find you, since people usually search for particular services online. Don’t worry, as your chosen role is not set in stone. As you gain experience, it’s natural to go through career transitions. A news release from the Bureau of Labor Statistics shows that changing careers is natural, with individuals holding an average of 12.4 jobs from ages 18 to 54. Next Steps: If you’re unsure of the niche or role to focus on, you won’t have to look far. What’s your job experience? Which tasks do you enjoy the most? Focus on the things you can do well, and you’re interested in doing. If you want to explore other roles, dip your toes into the ones you find most interesting. Browse the best places to find freelance work , like Upwork and Fiverr; join freelancing groups on Facebook; and go through a free online course. 2. You Have Both Hard Skills and Soft Skills Freelancing is very similar to running a business. You’ll have to do the heavy lifting yourself. Who will answer the client inquiries, do the bookkeeping, market on social media, and look for leads? You can outsource some of these. But if you’re starting, the most obvious answer is you. That said, you’d have to arm yourself with hard and soft skills. Excellent verbal and written communication, time management, customer service, creative thinking, project management, and digital marketing skills are must-haves if you want to succeed as a freelancer. Next Steps: Note the underrated soft skills you can practice online . Soft skills like active listening and presentation don’t get much attention since most focus on gaining hard skills. However, if you want to land and retain clients, you need both. 3. You Have a Dedicated Workspace and Equipment One of the best perks of being a freelancer is working from anywhere. However, make sure that your workplace helps you get your work done. An article on Forbes shows that office space […]

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16 Best Side Hustles for Introverts

Introverts may feel shy or uncomfortable when it comes to taking up new challenges and opportunities, especially if these involve interacting with people. It can be tough to take the plunge and start looking for a new job or side hustle being an introvert. You might not know where to start or what’s out there. And on top of that, you’re probably feeling shy or uncomfortable about putting yourself out there. Many people view side hustles as a way to escape the 9-5 grind, but this can be daunting for introverts. It’s hard enough to muster up the energy to talk to people at work, let alone work on additional projects in your spare time. If you’re also an introvert looking for a side hustle to make some extra bucks, you’re lucky because today’s world is full of opportunities. You can work from the comfort of your home, expand your skillset, and generate a new income stream without even talking to anyone (you’ll have to email and text, though). So, if you’re in between jobs or need something extra to keep your head above the water, this list of side hustles will be your savior. Keep on reading because this quick guide is all about the best digital skills, online work options that fit your personality type, and a bit of motivation to start making money in no time. Top Side Hustles for Introverts to Make Money Looking for a way to make some extra cash? If you’re an introvert, you might not be cut out for a traditional job. But don’t worry – there are plenty of side hustles that are perfect for introverts. Here are a few of our favorites: Start a Blog or Website- My Fav Side Hustle For Introverts One of the most popular side hustles these days is starting your own blog or website. It’s a great way to earn some extra cash, and you can do it all from the comfort of your home. Plus, you get to write about topics that interest you and build an audience of people who share your same interests. All you need is a computer and an internet connection to dip your toes in blogging. There are a few different ways to make money from your blog or website. You can sell ads, offer copywriting or web design services, or create and sell digital products such as eBooks, courses, or templates. Social Media Management If you’re good at using social media platforms such as Facebook, Twitter, and Instagram, you can make money by managing social media accounts for businesses and individuals. This is a great side hustle for introverts because it can be done entirely online, and you don’t have to meet with clients in person. As a social media manager, your job will be to create and post content, engage with followers, and grow the number of followers for your client’s account. You can find clients by searching for a “social media manager” on job boards […]

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Five Best Freelancing Jobs For College Students

Let’s go through some of these suitable freelancing jobs for students. Earning extra cash as a student means you don’t have to depend solely on your parents for pocket money; you can afford some personal items and even save. The upside of taking up freelancing jobs is that you can fit them into your schedule so they don’t eat into your school time. Part-time jobs may not always be viable since you should be available when your employer needs you. However, depending on how free you are in school, you can plan your timetable for freelancing jobs. So let’s go through some of these suitable freelancing jobs for students. Tutoring Students struggling with schoolwork sometimes turn to sites such as essaywriter.org for help. So you can help such students improve their academics and something from it. You can choose either online or physical tutoring, whichever favors your timetable. Some students in your school may need clarification around certain topics for physical tutoring. If you are good at these units, you can help them at a fee. You can also opt for online tutoring, which is the best option, especially with several websites offering tutoring services. You can register as a tutor to help other students improve their academic performance. You’ll get paid according to the number of hours you put in. Online tutoring is more flexible since you provide teaching services only when available without the pressure to clock a specific number of hours. Additionally, you’ll be free to choose which students you want to tutor, whether younger ones in lower levels or your peers. The best part about online tutoring is that you can do it from the comfort of your campus room. Graphic designing If you are creative, you can try a hand at graphic design. Just from your school, several events are held in school so you can ask to print their advertisement posters for a fee. Starting with small projects such as printing adverts will help sharpen your skills. Graphic design is a business you can continue after school, especially if you build a client base. If you are a design student, you’ll sharpen your skills in your niche and gain experience, which can be a great addition to your resume. Online marketing With the advent of social media, marketing took a new turn which you can explore. Marketing is now more effective if done online. The good thing is you only need a little marketing knowledge to be good at online marketing. You can explore various marketing sections online, from being a social media manager to finding influencing gigs and giving product reviews. If you are a marketing student, finding a freelancing marketing job will be a good way to gain experience before joining the job market. Research the various online marketing jobs you can take up and settle for one that favors your school schedule. Blogging Blogging can be an excellent freelancing job, especially if you write and review things you love. When […]

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What Freelancers Need To Know About Student Loan Forgiveness

WASHINGTON, DC – FEBRUARY 22: U.S. President Joe Biden speaks during an announcement related to … [+] Getty Images Nobody ever said paying off student loans would be fun. Despite Biden’s efforts to forgive some student loans, change is tricky and slow. For freelancers whose financial situation is constantly changing, student loan policy is even more complicated. Here’s what you need to know. Biden’s plan has three parts : a final extension of the student loan repayment pause, a one-time cancellation of up to $20,000 in student debt for eligible borrowers, and a reform of the income-driven repayment (IDR) plans. As of mid-2022, if your total income is less than $125,000, you should qualify for up to $10,000 in student loan forgiveness under the American Rescue Act. And I say “should,” because we’re still awaiting a court decision on whether or not it will come to fruition. But—the current pause aside—let’s assume you’re a freelancer with student loans. It’s a match made anywhere but heaven, as freelancing is unstable, and student loans are annoyingly stable. Extremely, extremely stable. In fact, your loan payment can be the same for months and months and months, and your principal will barely decrease—it’s nice to have a shred of predictability in your life! How Biden’s Plan Will Affect You It depends on your income. But if you’re a freelancer, that’s not quite a straightforward calculation. The number you should be looking at is your adjusted gross income , which means that you get to deduct your business expenses, if you’re a freelancer. So if you make $150,000 and spend $30,000 on an office, you’re in the clear. If you make $125,003 and buy one business-related latte, you should also be in the clear (and if you’re not, make sure to get it with oat milk). But, while no one’s income is 100% steady, freelancers’ incomes mimic those pirate ship rides you see at street fairs. The ones that make little kids vomit. Not only do most freelancers not earn the same amount every year, many of us don’t earn the same amount every week. So, what if your income is sometimes above $125,000, sometimes below? What matters is what you filed on your 2020 and 2021 taxes . If your Adjusted Gross Income is less than $125,000 either of those years, you would qualify. Caixin Services PMI Exceeds Expectations As Chinese Semis Rally The Best Tummy-Control Swimsuits With Flattering Support The good news is that the extension of the student loan repayment pause means that you don’t have to make any payments on your federally-held loans for 60 days after the Supreme Court gets around to deciding on it. If there’s no decision by June 30, 2023 (a date that quite literally gets closer every day), payments pick up 60 days after that. This applies to everyone with federally-held student loans—even freelancers. What You Can Do Before Biden’s Plan Is Passed I want to offer general advice on how freelancers can manage student […]

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Self-Employed or Freelance? You Likely Need To Pay Estimated Taxes

Ground Picture/Shutterstock The tax system operates on a “pay-as-you-go” basis. If your taxes aren’t being withheld from your income, the IRS expects you to pay estimated taxes four times a year, usually in January, April, June, and September. If you work full-time for an employer, your company typically withholds federal taxes from your paycheck. But if you’re self-employed — or if you have a side gig on top of a day job, get a big alimony check, or win a prize — you probably need to make estimated tax payments to avoid both penalties for underpayment and a big bill when your taxes are due. Here’s what you need to know. Who should make estimated payments? The most common category of people who must pay estimated taxes are the self-employed. But many other people should make estimated payments, too, including: Retirees who take required distributions from retirement plans People who earn income via the gig economy Anyone who wins a prize that has cash value Anyone who expects to owe $1,000 or more on their taxes at the end of the year How much should you pay? The IRS generally expects you to make quarterly payments that equal at least 90 percent of your estimated tax liability or 100 percent of the tax shown on your return for the previous tax year. You can pay whichever of those amounts is smaller via the Electronic Federal Tax Payment System . Note that the last estimated tax payment for 2022 is due on January 17, 2023. The first estimated payment for the 2023 tax year is due on April 18, 2023. Plan for future payments now to avoid a painful cash crunch at tax time. A version of this article appeared in our partner magazine, The Essential Tax Guide: 2023 Edition.

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Fun Part-Time Jobs Ideas For Retirees

Dear Savvy Senior, As a 68-year-old retiree, I’m interested in finding a fun part-time job that can occupy some of my time and generate a little extra income. Can you write a column on low-stress part-time jobs that are popular among retirees? Part-Time Retiree Dear Retiree, Working part-time in retirement can be a terrific way to occupy your time and earn some extra income. The key, however, is finding the right gig that’s fun and satisfying for you. While there are literally hundreds of different part-time job opportunities out there for retirees, here are a few possibilities to explore. Pet Services: If you love animals, consider pet sitting and/or dog walking. Pet sitters, who attend to a pet’s needs when their owner is away, can earn $15 to $40 per visit. Dog walkers can make $10 to $30 for a 30-minute walk. To find these jobs, advertise your services in veterinarians’ offices or online at sites like Craigslist.org or Care.com . Or, if you’d rather work for an organization that offers these services, visit Rover.com . Teach or Tutor: Depending on your expertise, you could substitute teach or tutor students privately on any number of subjects. Substitute teachers typically make between $75 and $125/day, while tutors can earn between $15 to $30 per hour. To look for substitute teaching positions, contact your local school district to see if they are hiring and what qualifications they require. To advertise tutoring services, use websites like Wyzant.com and Tutor.com . Or, if you have a bachelor, master or doctoral degree, inquire about adjunct teaching at a nearby college or university. Drive: If you like to drive, you can get paid to drive others around using Uber or Lyft apps, or become a food delivery driver through Instacart or Uber Eats. Drivers make around $15 per hour. Babysit: If you like kids, babysitting can be a fun way to put money in your pocket. Hourly rates vary by location ranging anywhere from $10 to $40 per hour. To find jobs or advertise your services, use sites like as Care.com and Sittercity.com . Tour guide: If you live near any historical sites or locations, national parks or museums (anywhere that attracts tourists), inquire about becoming a tour guide. This pays anywhere from $10 to $40/hour. Write or edit: Many media, corporate and nonprofit websites are looking for freelancers to write, edit or design content for $20 to $60 per hour. To find these jobs try FreelanceWriting.com , FreelanceWritingGigs.com and Freelancer.com . Consult: If you have a lot of valuable expertise in a particular area, offer your services as a consultant through a firm or on your own through freelancer sites like Upwork.com , Fiverr.com , Freelancer.com or Guru.com . Translator or interpreter: If you’refluent in more than one language you can do part-time interpretation over the phone or translate documents or audio files for $20 to $40/hour. Try sites like Translate.com , ProZ.com or Gengo.com to locate translation jobs. Public events: Sporting events, festivals, […]

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9 Lucrative Freelance Jobs That Allow You To Work Remotely

Many people are interested in becoming freelancers, and it makes sense when you think about the possibilities and freedoms. For example: You have a flexible schedule that you can dictate. Now you can work from home or wherever you like Your earning potential is up to you and more in your control. You do not have a traditional boss or manager to answer to Of course, freelancing is not all glamorous and can be tough to break into the job market initially. Many people like you have the same interest and desire to work for themselves , and it can get a bit competitive. But luckily, depending on your ultimate career goals , there are many categories of freelance jobs you can choose from. Any skills you potentially have can become a lucrative way to make money from home. Below you’ll learn about some of the best freelance jobs that can pay well and freelance job sites that will help you get work much faster. Best Freelance Jobs From Home The beauty of freelancing is you can typically work from anywhere in the world with an internet connection. Certainly, some freelance or contracting work may require you to meet in person, but mostly it can be done from the comfort of your own home. This is an attractive feature if you like to make money working alone or find that you do your best work without the distractions of a traditional 9-5. Below are a few of the best freelance jobs that are not only in demand but can pay well. 1 – Digital Marketing Digital marketing is a top in-demand set of skills because every company needs marketing and an online presence. You can be a generalist, meaning you do it all in digital marketing or focus on specific areas like social media, paid advertising , email, etc. Although I do digital marketing full-time, I used to do quite a bit of freelancing and contract work in various digital marketing focus areas. Plus, the more experience and track record you have, the more money you can make. 2 – Writing Probably one of the more popular freelance jobs is writing. Again, this can be a broad category, but getting paid to write can be lucrative as you build your portfolio. You can make money from being a blogger or starting your own blog, being a copywriter, or an editor/proofreader. Although it can be competitive, there is no shortage of writing work. 3 – Designer Similar to digital marketing, looking for quality design work is a much-needed area for most businesses today. Small businesses, start-ups, solo entrepreneurs, and enterprise organizations have numerous areas where quality design work is necessary. It could be as simple as creating logos and social media banners to create various display ads, even designing a new website’s layout. But being a freelance designer can also be areas like UX/UI design where you help create layouts and interfaces of products. Or, if you are a talented […]

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Making Money With Freelance Travel Journalism

Freelance travel journalism is often a coveted career. Sauntering around the world with publications picking up the bill is total fiction but undeniably appealing. In reality, writers often linger on the precipice of poverty; rates have stagnated since the mid-90s despite a cumulative living cost increase of 97.40%. The industry also comes with few to no tangible benefits – no health insurance, pension plan, unpaid sick days, or absences for unexpected life events. Dwindling fees have made it near impossible for many to imagine a full-time career in the field. Travel Journalism Then and Now Travel writer Kristen Luna puts the year-on-year comparison into sharp perspective. “In 2006, rates were a standard $2 per word. Even when many magazines launched websites back then, they paid a minimum of $1 per word. In 2008, my entire income was based on travel writing, more than $50,000 a year, from travel assignments from anchor clients like Forbes, who paid $1 to $2 per word.” Luna states she currently limits travel assignments. Here’s why. “I hardly ever take travel assignments as the hassle, the pitching, the sourcing of images, the whole hullabaloo is not worth the paltry $250 many publications offer.” The sizeable investment of time and personal funds expected in travel writing research negates the financial rewards, with rates quartering in the space of fewer than 20 years.” One former newspaper and magazine editor reported paying $0.37-0.50 per word in 2001, a rate which has not increased in 22 years despite the steep hike in the price of being alive. Writers Haven’t Been Quiet About Their Frustrations Other travel writers have tweeted their frustrations recently – they’re being paid the same day rate as in 1995 and paid $100 less in 2023 than in 2015 for the same publications. In a subscriber survey by the industry newsletter Talking Travel Writing , 177 journalists aired their grievances with the industry. Sixty-four percent said finding well-paid commissions was one of their biggest struggles, along with securing regular income (52%) and negotiating fair rates (31%.) Industry fees’ steady wane is intensified by the time investment required by travel writers. According to former Conde Nast Traveler features editor Fiona Kerr, a feature story in the major publication includes a minimum of four days of on-site research, plus set up and writing time, before edits. No other stories could be sold off the back of trips conducted for Conde Nast Traveler, meaning that journalists could expect a maximum return of $1000 on this significant time investment. Major Publications Haven’t Raised Rates in 20+ Years, and Some Publications Have Reduced Pay Despite being one of the best-paying publications in the UK, the magazine’s rate per word has remained unchanged since the publication launched in 1997. In a tweet, travel writer James Stewart noted that he had been offered day rates of $150-200 from mid-size magazine publishers. Similarly, Francisca Kellert noted on Twitter that some publications she works with had halved their rates over the past 20 years. Responses […]

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Top 5 Hobby Hustles

Got a hobby that takes up the bulk of your free time? Why not make some money at it? Hobby hustles are not only attractive because they allow you to make money doing things you love, they’re also beneficial at tax time. How so? Money spent on hobbies are personal expenses and never tax deductible. But if you do the same thing with the intention of making a profit, you can deduct all of your costs as business expenses. Consider Katie, who loves to paint and spends thousands of dollars on canvases, brushes and paints each year. If she uses her paintings to adorn her walls, she’ll have a beautiful apartment. But if she lists her paintings for sale, she’s launched a profit-making enterprise. Now she can fill out a Schedule C — profit or loss from a business — and deduct those expenses on her federal tax return. Assuming she pays 25% of her income in federal tax, she saves $250 in taxes for every $1,000 she spends on art supplies. And, presumably, now that she’s selling her paintings, she’s making more income, too. Hobby hustles Better yet, popular freelance marketplaces make it easy to turn your hobby into a for-profit business without the hassle of getting a business license, creating a website, or doing a lot of marketing. We took a look at Statistica’s ranking of most popular hobbies in the U.S. and matched them with highly-ranked side hustle platforms that can make it easy to turn your hobby into a side hustle. Cooking and baking The most popular hobby in the U.S. is cooking and baking, with 38% of respondents listing this as their favorite leisure activity. And there are dozens of online platforms that can help you turn this hobby into a hustle. Some of the best: A site called EatWith can help you host paid dinner parties in your own home. You set the menu, schedule, price and number of people you can accommodate. The site advertises your meals, books reservations, and collects payment. You pay nothing for this service. The site adds a 20% commission to the client’s bill. Meanwhile, Tastemade — a media site for foodies — helps professional and amateur chefs hosts in-person and online cooking classes. Like EatWith, Tastemade invites chefs to design, price and schedule their own classes. The site simply advertises your offerings and takes a commission when they sell. If you’d prefer to cook for take-out, you can sign up with Shef or DishDivvy. Both sites invite home cooks to offer meals for pick-up or delivery. Like the other cooking sites, these expect you to design the meal; set the price; decide when you’re cooking; and package everything for pickup or delivery. Reading Reading is the nation’s second-favorite hobby with 36% of respondents saying that’s how they prefer to spend their free time. There are a couple of ways for avid readers to make money. One is to review books. U.S. Review of Books pays between $25 […]

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