One of the things that has me thinking this morning is the massive hemorrhage on Wall Street. As things slowly continue the implosion, I am a bit concerned about my job. See, I’m a freelancer. I do a lot of work for online companies especially. And as things worsen as far as the economic picture is concerned, I think about the fact that if something is going to get cut in some budget, it is probably going to be me.
So, it’s time to cut back, make sure my emergency fund is in order, and hope that I’ve got enough work of different kinds to see me through this.
Does this economy worry you in terms of your home business?
Ah, the cycle. At any rate, it's time for us all to get ready…
From my experience of past downturns there's usually a pattern. Yep, freelance workers will be squeezed first. Then the staff layoffs will come. Then businesses will find they have nobody to do the work so they'll start using freelancers again.
Thanks for sharing! I haven't seen a direct impact yet, but it's always best to be prepared.
So far, I don't think the economy has impacted my business. But, never say never. I have dealt with some slow periods, but nothing crazy, and things usually bounce back within a couple of weeks. But I'm not waiting until I'm backed up against the wall. I do have a "just-in-case" fund, and I've begun to experiment with opportunities that generate passive income.