From stable paycheck to freelance life: How do you deal with the uncertainties that come with this?

The gig economy has really taken off, hasn't it? I've got a friend who left her 9-to-5 to become a freelance graphic designer last year.

She loves the flexibility, but man, does she stress about income stability. It's got me wondering about the trade-offs.

For those of you who've made the jump to freelancing or contract work, what's been your experience? How do you handle the uncertainty?