Freelancers aren’t promised a weekly or monthly paycheck. Their income is based entirely on performance. No work, no pay - it’s that simple.

Although this simple rule applies to every type of occupation - it’s a little different in the freelance world. Most telecommuters work on a per project basis. They complete an assignment and then move onto the next. The key to continuous income is a steady flow of clients. Thus, freelancers have to guard the work at home job boards and look for new contracts.

Sooner or later, every freelancer experiences at least one slow period. We get too comfortable with assignments and think that they’ll last forever. This is rarely the case.

I’ve made this mistake - twice. But, you live and you learn. Now, I try to stay one step ahead of the game.

I’m happy with my current work load. I generate enough income to meet my monthly expenses and have a little leftover. And the best part…I’m able to work part-time (most of the time). Still, I look for new contracts every day. You never know when you’ll stumble upon that perfect opportunity - great pay, great topic. I know it’s crazy, but even with a full schedule - I keep applying for new jobs. It’s like an addiction - or rather a fear.

For the most part, I’ve had a positive freelance experience. Yet, my worst month ever stays fresh in my mind.

It was early February 2007, and two of my highest paid contracts ended - at the same time. Inside a three day time span, my monthly income dropped 50 percent. Talk about painful!

I always plan for a rainy day, so the income plunge didn’t impact my finances. Still, I don’t like to dip into the nest egg. Now, I do everything in my power to ensure enough work, and few surprises.

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