New Delhi, Aug. 13 -- Freelancing offers independence, flexibility, and the freedom to develop a variety of skills while opening up additional avenues for earning money. But that freedom also brings financial and operational risks that salaried employees typically do not face.

For freelancers and gig workers, moving away from the security of a fixed monthly salary can be liberating. Whether someone is managing global teams from home, creating content or conducting art therapy sessions, independent work can offer a level of professional freedom that traditional employment often cannot.

Yet this flexibility requires greater financial discipline because freelancers lack the conventional safety net of a regular paycheck and employer-provide...