On the surface, the idea of working freelance might sound like a dream come true. As a contractor or freelancer, you get to pick your projects and the people you work for. Furthermore, you have the luxury of doing them in your own time when you see fit - so if you want to work at 2am in the morning, you can. Whether you’re looking to go fully independent or just working for a company on a freelance or contractor basis, then it’s easy to get caught up in the idea of how good it will be - forgetting that there’s a flip side. For every peak there must be a valley, so what are the pros and cons of choosing this way of working?

PRO: Control 

When you're a freelancer it gives you control who you work for, the hours of day that you work, and how much you do for them. You can do more work on some days and less on others, you can fit work around your other commitments. If you’ve lived up until this point with a boss breathing down the back of your neck, it's a very freeing way to work. 

There are lots of reasons why you can end up in a career that's not right for you. Maybe when you started out in the world of work you weren't aware of the options you had, or perhaps you left school without the qualifications needed to pursue your dreams. You might have got into a job that was perfect for you back then, but as time has gone on and you've changed as a person, you feel like your role doesn't quite 'fit.' You might be overworked and feeling constant pressure in your life, or be underworked and under challenged and bored a lot of the time. Maybe you want to work a job that makes a genuine difference in the world, instead of spending your working life lining the pockets of a big corportation. Either way, there are lots of reasons that you could reach a point where a change of career seems like a good way to go. Here are some things to consider before taking the plunge.

Our careers are a huge part of our lives, and so any decision to make a drastic change shouldn't be taken lightly. It can help to first have your reasons set out as to why you want to make this change and what difference it will make to your life. That way, you won't get cold feet later down the line as it's clear in your mind exactly why you're doing this.

A change of career will generally mean leaving a job where you're higher up and taking one where you're back at the bottom- or close to it. One of your reasons for changing career might be that the switch will allow you to eventually earn more money, but chances are you will need to spend time (sometimes years) building up to this. You may have to accept a bit of a knock to your salary at first, find out how this will affect the rest of your life and whether you're still able to afford your home, bills and everything else you need to pay for. A bigger salary long term could be worth the cutbacks in the here and now, do some research into how much you're likely to be able to eventually earn. And be sure to take regional differences into account, in regards to salary what is a good one in London and what is a good one elsewhere in the country will be vastly different.

While there are lots of bright young things out there, employers know what they are looking for and they realise potential when presented with it. So do all you can to improve yourself and your skills and if a change of career is right for you then get out there and go for it!

Graduates are finding it increasingly difficult to find a job relating to their course these days, but that doesn't mean that a degree is worthless. While you might struggle to get onto the exact career path you planned for, many job roles require a university degree just to apply. Having this kind of education and qualification behind you is never going to be a bad thing, you don't have to worry about paying debt until you're earning a significant amount each year so it's always worth going for it if you can. Here are some ways you can ensure that university does lead you to a great career.

You’re in business to make money. Yes, you might have goals beyond profit and a love for the work you’re in. However, at the end of the day, if your business is bleeding money then you won’t get to reach any of those other goals. As a small business owner (especially if this is your first venture) it can be difficult to find the balance and get your finances just right. Of course, you need to be selling quality products or services which cost money- but you need to be earning enough so that you're making enough back. Too many small company owners get into business without understanding how to really operate their finances, here’s how you make sure you don’t make that mistake.

Record Everything

Even before the business begins, it’s a good idea to get as prepared for bookkeeping that’s as simple as possible. Your tax and other contributions all depend largely on the reliability of your bookkeeping, and once you earn over a certain amount you will have to pay VAT too. So, if you need to register for VAT it's vital that you do so, and ensure that all records are being carefully kept. If you have many expenses to deal with in business, then it’s a good idea to start off by setting your business as a separate entity from yourself as a person. Having personal and business finances and expenditures tied together can make it very difficult to organize when tax season comes around. Accurate accounting of all incoming and outgoing money is essential for managing a cash flow plan, too.

Learn to Borrow Correctly

Record-keeping also shows that you’re using the money you borrow from investors and banks properly, too. When it comes to borrowing, you need to develop a more disciplined approach both inside and outside of the business. After all, getting in debt personally will put the business in danger too, as it will count as an asset of yours. Make sure that you have a reliable budget and plan for paying off any loan before you accept it.

Make Sure Your Money is Going Where it’s Supposed To

That budget shouldn’t only be used for paying debts, but making sure that you’re accounting for where your money goes as best as possible. It’s easy to find yourself spending more than you expected when it comes to taking on new projects in the business or making an attempt to expand. If you spend money you shouldn’t have, however, it can get you in real trouble. Especially if you’re spending money that should be going to any employees you have. If you have a larger workforce, then it might be a good idea to use payroll consultants to ensure they’re taken care of as soon as possible. You don’t want your forgetfulness jeopardizing the whole business.