How to quit your job and go to full time freelance, Part 1

About 1 in 3 Americans is currently a freelancer or a small business owner. By 2020, the number of freelancers are estimated to grow to 40%!

It’s becoming easier than ever to start your own business and work for yourself.

But the idea of giving up a steady paycheck, retirement benefits, and health insurance can be daunting.

The good news is that most successful freelancers and entrepreneurs don’t just up and quit one day. They take their time to build a foundation for their business and personal finances before they leave their day jobs, and you can too.

In Part 1, we talk about how to: – Start diversifying your income and exploring your skills with side hustle ideas – Categorize your skills and talents and identify potential income streams and customers/clients

In Part 2, we will talk about how to: – Calculate how much you need to have saved to take the leap – Put together 12-month cash flow projections to create measurable and concrete goals for how to financially transition to freelancing full time – Determine the best business entity to set up as your business grows – Separate your business and personal expenses and manage your self employment taxes – Get the right insurance in place

To hear this weeks podcast click here: http://brunchandbudget.com/podcast/?powerpress_pinw=728-podcast