Achieving balance as a contractor
As a contractor, you operate as an independent entity, so you’re responsible for sorting out the benefits that you’d usually get from traditional employment. That includes private healthcare, life insurance, and more. Flexibility can be appealing, but can sometimes turn into never-ending workdays, with little time to wind down. In this chapter, we’ll explore the importance of work-life balance and self-care, as well as other essential benefits for your health, wellbeing and financial security.
The importance of work-life balance
Balancing work and personal life is essential for every professional, but it can be particularly difficult for contractors. The freedom of being a contractor can sometimes blur the line between work and personal time. Here are a few tips to find that balance:
Set clear boundaries: Designate work hours and stick to them. Don't let work spill over into your personal time.
Take time off: Because there’s no paid annual leave for contractors, you can sometimes work continuously without a break. Remember to take time off between contracts to rest and recharge.
Separate work and personal spaces: If you're working from home, designate a specific area for work. This helps create a psychological boundary between work and leisure.
Check out these services to help you rest and recharge:
Manage your calendar with Motion
Use Motion’s AI-powered technology to organise your calendar for a better work-life balance. It can intelligently schedule meetings around your work habits and personal preferences, prioritise
important tasks, and avoid scheduling conflicts.
Self-care strategies
Contracting can be intense and complex, making it easy to neglect your personal wellbeing. It’s important to practise self-care to maintain your physical and mental health—not just for your own wellbeing, but for your professional success, too.
Here are some self-care tips to improve your mood, energy levels, and overall productivity:
Stay active: Regular physical activity can boost your mood and energy levels.
Eat healthily: A balanced diet fuels your body and mind.
Prioritise sleep: Good sleep is essential for health and productivity.
Take breaks: Short breaks during your workday can help reduce stress and boost productivity.
Practise mindfulness: Activities like meditation or yoga can help you manage stress and improve focus.
Enhance your mental wellbeing with Headspace
Headspace tailors its meditations and mindfulness exercises to your stress levels and preferences. Its AI-powered features help you manage stress, boost focus, and find balance in your busy schedule.
Relaxation and recovery
During a demanding work week, it’s important to engage in self-care practices that rejuvenate your mind and body. Try out these activities to help you unwind.
Practise yoga or Pilates: Engage in mindful movement and relaxation with online and in-person classes.
Exercise or get involved in sports: Physical activity helps to clear your mind and relieve your body from stress.
Take light walks or hikes: Stay active and spend time in nature.
Read or listen to audiobooks: Find a good book to clear your mind from work-related stress.
Practise meditation and mindfulness: Use mental wellbeing platforms to help reduce your stress levels and improve focus.
Essential benefits for contractors
There are certain benefits—from private healthcare to financial safety nets like income protection and life insurance—that are important to consider, especially as you won’t have a traditional employer that provides them for you. We’ll explore a range of benefits that are suitable for your unique needs as a contractor.
Private healthcare for physical and mental health
Without health benefits provided by an employer, you’ll need to seek out private healthcare plans that offer fast and comprehensive access to medical care. Consider private healthcare plans that include mental healthcare too, because as a contractor, you’ll lack the support systems that traditional employees might be entitled to.
These healthcare plans offer a wide range of services, including general medical care, therapy and digital health resources, and can be tailored to fit your individual needs and lifestyle. Make sure you choose a plan with comprehensive coverage that gives you easy access to healthcare professionals and flexible treatment options.
Check out MoneySuperMarket or GoCompare to find the right healthcare plan for you. They’re great for exploring and comparing various plans, features and prices. Take a look to widen your search and make sure you’re getting the best plan that aligns with your health and financial situation.
Online solutions for healthcare
It might be a good idea to use digital health platforms, especially with a busy work schedule and lifestyle. They offer a mix of helpful features, including easy online access to physical and mental health consultations, continuous health management, and personalised health advice.
Insurance options for contractors
Your financial wellbeing as a contractor isn’t just in what you earn, but also how you safeguard yourself against unexpected or uncertain events. Without the insurance benefits you’d typically get from traditional employment, it might be a good idea to sort out your own. These include income protection, life insurance, and critical illness cover.
Each provides a layer of security on its own. But together, they create a financial safety net to help you and your beneficiaries during unexpected situations.
Income protection
Income protection insurance pays you a regular income if you’re unable to work because of an illness, disability or injury. It offers valuable financial security during unexpected downtimes, which is especially helpful for contractors who don’t receive this type of traditional employer benefit. There are different policies that cater to a host of needs and periods of cover.
Life insurance
This type of insurance financially supports your loved ones with a lump sum after you pass away. It’s a crucial part of financial planning, and offers various policies to suit different needs and life stages.
Critical illness cover
With this insurance, you’ll get a one-off payment if you’ve suffered an injury or are diagnosed with a life-changing illness, and have to take time off work. It also financially protects you and your loved ones if you pass away during the policy term.
Comparison sites for insurance providers
Insurance companies
Explore your options with Kingsbridge, trusted for their Public Liability, personal accident cover, and Employers’ Liability.
Financial breakdown for Chapter 10
Find out how much it could cost to maintain a healthy work-life balance and engage in self-care.
£
Fitness memberships or equipment
Monthly gym memberships or purchasing home exercise equipment.
Estimated cost range: £20 to £300+
£
Wellness programmes and platforms
Costs for joining wellness platforms, programmes, or weekend retreats.
Estimated cost range: £100 to £1,000+
£
To-do list and calendar management software
Costs to get software that helps organise tasks, schedule appointments, and manage deadlines.
Estimated cost range: £5 to £20 monthly
£
Private healthcare for mental and physical health
Costs for private healthcare plans that offer comprehensive mental and physical health services.
Estimated cost range: £100 to £500 monthly
Insurance options for contractors
Costs for insurance options like income protection, life insurance, and critical illness cover.
Estimated cost range: ● Income protection: £10 to £100 monthly ● Life insurance: £5 to £50 monthly ● Critical illness cover: £10 to £100 monthly
Total estimated cost range
Action Checklist: Maintaining work-life balance and self-care
Use this checklist to find a healthy work-life balance and prioritise self-care while contracting.
Maintaining worklife balance and selfcare
It’s an exciting time to be a contractor. Technology is evolving, and so is the world around it. You can stay ahead by keeping pace with technological advancements and anticipating how these changes could shape user expectations and industry norms. If you’re ready to tackle fresh challenges and embrace innovation, you can thrive as a contractor. Remember: your role goes beyond just building solutions. You’re here to lead the way in responsible technology use, continuous learning, and adapting to an environment that’s constantly changing.
So, as you take the first step into your contracting career, here’s to a journey filled with growth, success and endless opportunities.
