What does freelancing offers- advantages or advantages?

This I copied everything from a very nice blog titled Graphic Design Blog. Written by Charlie B. Johnson and nothing is taken out. 

I know this endless discussion about the advantages and disadvantages of freelancing is not new… but recently when one of my friends, who has served quiet some years in real professional world got really confused when informed by someone that things are far much better in freelancing than the apparent cruel reaches of the real world.

As she is considering the world of freelancing and asked me for a sincere suggestion, I thought of listing the advantages and disadvantages of freelancing but things will really become easy if you give your opinions according to your experience.

Freelancers are found in all fields — designing, writing, photography, consultants and many others, but as for any job, freelancing also comes with its pros and cons. Let me list both, so we might come to a final decision….

The Positive Picture of Freelancing – Advantages:

• Be Your Own Boss:

  The most fascinating part is when you get to take your own decisions, choosing which jobs to take, negotiating contracts, and determining your prices.

• Getting A Raise Anytime:

  If you feel that you are worth more money an hour then give yourself a raise and up your quote when the next company comes a calling.

• Choice To Select A Project:

  As an employee in a company whenever your manager assigns you a project, you have to accept it dutifully, although it is not of your interest at all. Freelancing, offers you enough choice to take your decision.

• Choosing Your Working Hours:

  You get a chance to work in your comfort zone, as some people find working early hours convenient while others work more efficiently during late hours…so you can make a choice.

• All Eggs Not In The Same Basket:

  If you are a full time employee in a company and all of a sudden loose your job, it becomes difficult to pick up a new job. As a freelancer, you are working on multiple projects and are always on work, almost.

• Saving On Your Conveyance:

  With the growing price of gas, it’s becoming a real savings to stay home.If you stay at home and work, you will figure out how much you can save on conveyance.

• Don’t Have To Be Responsible For Other People’s Blunders:

  Working in a company means to work like a team and have to compromise with other people’s work wether you like it or not. Working individually saves you from making compromises and answering for the blunders done by your team members.

• Experimenting Your Skills:

  At times, you feel like experimenting your skills and want to come up with something innovative but your company will not allow you to do things your own way. Freelancing, gives you enough space to know your talent.

• Same Clothes, Different Days:

  Another option where you get to save your money is not spending big amount on your maintenance.

The Negative Picture of Freelancing - Disadvantages:

• Instability:

  In freelancing, a month you can be loaded with too much work but the next one you are looking for a waiter job because you can’t pay your bills.

• Freelancing, A 25 Hour Job:

  I am sure my freelancer friends will surely agree with it. There is no resting, as your brain never stops working, always looking for a design or thinking about a marketing strategy to help you progress.

• More Distractions:

  Not working in a professional environment definitely makes your mind wander many times while working.

• Loneliness:

  90% of your cases you have to get solved yourself as you have no colleague designers sitting around to help you in any way. This way stress and worries keep going on with you.

• Pressure:

  You are your own boss, if you aren’t able to do a task by yourself, because of your lack of motivation or capacity, there is no one to help your customer understand.

• Continuous Change:

  One freelancer may find that she has enough work to keep her happy and wealthy while another may find the work coming in very slowly.

• Multitasking:

  Freelancing is not only about designing, drawing, writing or whatever you do but like a good businessman, you should also know about law and accountancy.

• Long Vacations:

  Working as a freelancer, when you have no one eyeing you, you tend take long vacations, which often results in loosing the potential clients.

Both sides of the fence have its pros and cons and I hope I explained them in the right way. However, I am sure your opinions according to your experience will be most helpful to take a right decision.
I am waiting for your votes, “What does freelancing offers more – Advantages OR Disadvantages?”