Why Gig Work is the Future of Making Money

Why Gig Work is the Future of Making Money?

What is Gig?

Originally gig was referred to as a music piece or a music composition, but currently, a gig refers to a single performance by a talent. It can be related to writing, designing, programming, video making, developing, etc.

What is Gig Work

Gig work can be anything from becoming an Uber driver to working on freelancing sites.

You work for a company without being a part of it, you do a company’s jobs or tasks but you are not on its payroll.

Why people are interested in gig work, instead of becoming fully employed?

Baby boomers were interested in job security, they wanted a regular income. However, Gen Y and Gen Z are more interested in freedom, freedom to choose any work they want, and freedom to work any time they want. They don’t want to go to a 9-5 job, instead, they want to work in a schedule that they feel is appropriate. They don’t want to go to work, instead, they want to work from anywhere.

Gig Working Vs Full Time Job

Gig working means you are paid per project, per presentation, per day, or per hour. A full-time job means you work in a 9-5 job (or similar work schedule) and you are on the company’s payroll.

As a gig worker, you use a freelancing platform that connects you to employers or app-based companies that provide short-term works/gigs.

Zoomers believe that gig working is more secure than being fully employed because it offers flexibility and a long-term work-life balance.

Contrarily, Boomers believed that working full time will make financial stable as you don’t have to look for jobs frequently.

My father retired from a job after working for 20 years. I cannot imagine working for the same company for that long. In my 6 years of working, I switched to 4 different companies. My father believed in working for a secured job so that money comes in regularly. However, I like to work on short-term projects and work on projects that give me as much money as I need.

The Gig Income: Can You Freelance For Life?

Gig working and freelancing has been enabled by the advancement in technology and the possibility of remote working. This is the era of the gig economy, here are some Statistics about Gig Economy that you might find interesting.

About 57.3 million Americans are working for gigs. By 2027, about 50 percent of Americans will be gig workers.

The Size of gig workers has doubled in the UK in the last 3 years.

In 2023, the world gig economy is expected to be $455 billion.

However, the main question is can you freelance for life. Can you make freelancing your career?

Gig workers are uber drivers, delivery guys, wedding planners, realtors, independent contractors, freelance writers, freelance journalists, data scientists, white hackers, etc. In order to become a gig worker, all you need is a smartphone and high-speed internet connection (also a computer and other software in some cases).

Can you actually earn full time through these methods, will you find financial security with gig income?

Working on Remote Jobs: How Remote Working Has Changed Your Life?

I worked for 6 years in various day jobs before I began as a freelancer and started working remotely. When I had a job, I had signed a contract that did not allow me to work elsewhere. I would have to reject the work even if I could have done it in my extra time without affecting my job schedule. However, I am a freelancer working remotely and I am free to choose whatever job I want to do. I can do even 3-4 jobs at a time. This is the most evident change remote working has brought in my life.

However, there is also a downside of freelancing and remote working.  The job brought me a regular income and I did not have to worry about my finances as my paycheck paid my entire bill. I was even able to save some money. However, as a freelancer, I always worry about my finances because if I cannot reach my monthly earning target, I cannot pay my bills, let alone save money.