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Why You Need a Nest Egg Before Becoming a Full-Time Freelancer

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Working as a full-time freelancer is a freeing experience. There’s no one to tell you what to do when to work, or what projects to take. You get the opportunity to set your own rules and chase your passions. Once you get the hang of this lifestyle, it’s a rewarding experience. However, as with anything in life, being a full-time freelancer has its challenges. One of the most significant is finances. 

You may have heard stories about freelancers that were able to supplement their income and lead decent lives. Though it’s a lot easier to be successful these days, the reality is that it doesn’t happen overnight. If you don’t have a financial cushion, things could get pretty stressful. Continue reading to learn more. 

You’ve Got Bills To Pay

Before deciding to quit your job to be a full-time freelancer, consider your finances. You still have to cover the costs of living. Without a stable income to rely on, this could be challenging at times. As you’ll soon find out, freelancers don’t get a regular paycheck. If you can’t cover your bills, your passion ends up becoming a chore as you take on any assignment to stay afloat. 

The Pay Isn’t Consistent

As stated previously, a freelancer doesn’t get regular paychecks. Sure, you can secure clients who pay you weekly or monthly, but it can take months or even years before you generate enough clients to acquire a stable income. Unfortunately, some freelancers run into clients that request work and don’t even pay for it. Since you can’t bank on a paycheck, you need a nest egg to dip into when funds are short. 

There Are Associated Costs

Whether you decide to start a blog or sell beauty products online, there are associated costs with running a business. As the owner, you’re responsible for everything from internet services and website maintenance to marketing and production costs. You’ll also have to cover other expenses like a business, health, and life insurance premium. Until your business is generating enough revenue, you may need to use funds from your nest egg to cover these costs. 

Slow Periods

You’ll soon learn that there are periods when business is booming and times when things are slow. Perhaps you offer seasonal products and services, or something has impacted the economy, causing clients to scale back. Whatever the case is, going weeks or months without income is rough. Having a cushion, however, could help tide you over until things pick back up. 

Things Happen

As much as you try and plan and prepare for unforeseen circumstances, sometimes things just happen. Something could happen with your personal or professional life that requires a large sum of money to resolve at a moment’s notice. You might need a home or car repair. You could face a slow period or have a client that doesn’t pay your fee. If this happens, you need to be able to bounce back quickly. A nest egg could cover these costs and avoid the need to go into debt. 

Peace Of Mind

Being a freelancer comes with a lot of ups and downs. Wouldn’t it be nice to know that when things are rough, you have the means to survive? The best way to do this is to have a nest egg. It gives you peace of mind in the midst of a storm allowing you to get back on your feet without the added stress. 

Working as a freelancer isn’t for everyone. For those who wish to pursue and succeed in this line of work, you must prepare. Though there’s a lot of advice that can make your experience easier, one of the most significant things you can do is create a nest egg before taking a leap of faith. A financial cushion ensures you can handle everything from household bills to unforeseen circumstances while continuing to do what you love.

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

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Lifestyle

How Critical-Thinking Skills Will Enable Your Kids to Battle Misinformation

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Photo: Tuttle Twins

Michael Currier of Massachusetts is an unvaccinated gastroenterologist and entrepreneur, and he’s seen misinformation firsthand. He’s long been teaching his kids how to spot misinformation, but they were naturally skeptical when they didn’t hear it from anyone but him. However, the right books taught his kids how to combat misinformation, and they will teach your kids too! If you’re wondering how to raise independent thinkers who can spot misinformation, the Tuttle Twins books are essential tools for your toolbelt.

How Critical Thinking Combats Misinformation

When kids can think critically, they become able to evaluate the credibility of sources and look for evidence, also identifying their own and others’ biases. Critical thinkers don’t just passively absorb information; they take it apart piece by piece to see what makes it “tick.”

Critical thinkers question the credentials of an author or source, alongside their motivations and whether they provide supporting evidence that goes beyond just statements that require trust. Kids who can think critically also spot confirmation bias, which is the tendency to believe something that fits in well with the thinker’s current belief system or worldview. This reduces demand for fake news that simply elicits an emotional reaction.

When your kids can think critically and independently, they will also be able to spot logical fallacies, like drawing causal conclusions from data that’s simply correlational. Critical thinkers can also tell the difference between scientific evidence and someone’s opinion.

Independent, critical thinkers don’t just read a page. They look up information from other trusted sources to verify that the original source is accurate. Critical thinking also encourages a healthy skepticism that causes independent thinkers to pause and assess emotionally charged content before they spread it around, realizing that misinformation frequently exploits outrage or fear.

Critical thinkers can also recognize propaganda tactics such as loaded language, false dilemmas, and “alternative facts.”

Photo: Tuttle Twins

Seeking Out Books that Teach Critical Thinking

At this point, parents wondering how to raise independent thinkers will want to look for books that teach critical thinking, like the Tuttle Twins series. The Tuttle Twins books explain things like misinformation, freedom of speech, and even the World Economic Forum while explaining that certain people get to decide what is and isn’t misinformation.

Books that teach critical thinking don’t just present facts. They encourage kids to analyze, evaluate, and put together arguments, frequently shining a light on logical fallacies and biases while calling for active application instead of a passive taking-in of information. Books that teach critical thinking will help you with how to raise independent thinkers by guiding you and your child through reasoned questioning and requiring evidence behind facts.

The Tuttle Twins series wraps every lesson in an engaging story that doesn’t just teach the information presented. The Tuttle Twins books also encourage all the above elements found in books that teach critical thinking. You can even enhance the critical-thinking skills embedded in all the Tuttle Twins books by pausing throughout the story and asking open-ended questions such as: What do you think the character should do next? What were some alternate solutions to the problem? What do you think could have been the consequences of those solutions?

Books that teach critical thinking like the Tuttle Twins series will go a long way toward helping you learn how to raise independent thinkers. They will also help you create special moments with your kids that they’ll remember forever! Join the growing number of parents who don’t want their kids to just be passive absorbers of information.

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