This is part of a series of The Rules of Home Visiting in Early Intervention. You can read it from the beginning here.
The Contract Employee: Early Intervention
While some of you enjoy the stability of a full-time gig with benefits, others of us roam the freelance frontier as glorious (but sometimes slightly stressed) contract workers. There’s a certain freedom to this path, a chance to be your own boss and set your own schedule (hello, afternoon naps with the little one!). But let’s be honest – the whole “benefits” thing? Yeah, that can be a bit of a…well, let’s just say a forced vacation when your contract renewal is delayed.
The Facts: The Financial Balancing Act
A recent study by Delivering Happiness: https://blog.deliveringhappiness.com/blog/77-of-contract-workers-said-they-are-happier found that 77% of contract workers reported being happier than their full-time counterparts. There’s something undeniably appealing about flexibility and control over your schedule. But here’s the flip side: no health insurance, no paid leave, and no retirement plan. Suddenly, that “forced vacation” when your contract ends takes on a whole new meaning (and not the fun, beach-side cocktail kind).
Plan Ahead
So, how do we, the intrepid contract crew, navigate this financial obstacle course? Here are a few survival tips I’ve learned along the way:
- Save: This one’s a no-brainer. Treat every paycheck like a precious nut and squirrel away a portion for future needs to make those rainy days a little less…rainy.
- Health: Research affordable health insurance options for contract workers. Remember, a healthy you is a happy you
- Retirement: Explore options like a Solo 401(k) to get your retirement savings on track. Future you will thank you!
- Balance: While those Disney vacations look tempting, prioritize saving for necessities first. Fun can (and should!) still be part of the equation but within reason.
The Takeaway:
Being a contract worker in early intervention has its advantages – flexibility, freedom, and the joy of making a difference. But it also requires financial responsibility and careful planning. By weighing the pros and cons, and implementing some smart saving strategies, we can ensure that our journeys as contract superheroes are filled with happy endings, not financial headaches.
What are your best practices for thriving as a contract worker? Share your wisdom in the comments below!
P.S. Feeling lost in the financial wilderness? Check out these resources:
- IRS Self-Employed vs. Employee Information: https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee
- The Balance Careers: Working as an Independent Contractor: https://www.thebalancecareers.com/working-as-an-independent-contractor-4047544
All Things Early Intervention 