myth #6 Your self employment income will be too sporadic to cover your costs

It is common for employed people to fear the fluctuations in self employment income that many people experience. With good budgeting and planning most contractors are able to spread their income over the full year. In fact as an employee your income is fixed but as a self employed individual you can tailor your work schedule to earn more or less money as you need it. Many entrepreneurs find themselves filling downtime or earning “overtime” with smaller ventures such as project or interim work.



MY TAKE: Since I started my consulting company I have not had any downtime that I did not plan out as vacation, training or transitional time. Personally I enjoy having one to two weeks off between major projects to work on my own projects and take some time away - therefore I plan for this with both my work schedule and my budgeting.

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