A lot of people mistakenly believe that the only way they can support themselves is to take a regular job with an employer, such as being secretary to a Canadian lawyer or working shifts in the local Wal-Mart. But in these tough economic times, there aren't always steady jobs to be had. If you're having trouble finding work, you might consider the alternative: contract work. We'll fill you in on the pros and cons of such work in this article so you can see if it's something you'd like to pursue.
One of the biggest boons of contract work is that you get to set your own hours. You might get a contract from RMT Mississauga to clean their buildings, which you can do on any day of the week at almost any time. If the contract's requirements don't suit you, you can always turn it down, whereas you can't turn down shifts at a store without eventually being fired. This makes it ideal for people who have other obligations, such as caring for children. Though you work for others, you are essentially your own boss.
Another major boon of contract work is that often times when regular work is unavailable, contract work will still be on offer because it is a fixed expense that businesses can easily plan for. By hopping from contract to contract installing daylighting in various buildings, you can make a living where other people are still making fruitless cold calls hoping to find a job before their unemployment insurance benefits run out.
One of the major disadvantages of contract work, however, is that its piecemeal nature makes it very difficult to budget for your household expenses. If you have a great month selling discount aquarium supplies, how will you know whether you can spend the extra on a new TV? The next month could be even better or it could be a bad month and you will need that extra to make ends meet. Some people find they are not able to secure enough contracts to get by, especially if they are not aggressive in promoting themselves.
Another major disadvantage of contract work is that it's akin to constantly searching for a job. One month you might be installing laundry room art, the next paving driveways, with each contract needing to be applied for or bidded on. It's a lot of work, and it doesn't always pay off. You may put a lot of energy into winning a contract only to have it go to someone else. In addition, contractors do not have their salaries docked for taxes and must come up with the lump sum during tax time - they never get a refund on their taxes.
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