Although freelancing is similar to working overtime because you're doing work outside of your normal working hours for the company you already work for, it's a little different.

In general, freelancing involves taking on a project that no one within the company has the time (or the expertise) to complete. It can involve projects from typing a handwritten manuscript or sewing a banner to creating a graphics-heavy company brochure or catering a company event. You work on the project in your spare time, usually on your own equipment at home.

• Freelancing allows you to use your unique skills and talents to earn extra money.

• Freelancing on a particular project doesn't lock you into working extra hours for an indefinite period of time.

• Freelancing can improve your reputation with your current employer, especially if you're able to come through on a difficult or time-sensitive project.

• Freelancing can spin off into a full-time gig if you're able to find more clients in addition to your current employer.