Being a full time web designer for a company would mean 9 hrs of your day dedicated to your company, and around 3 - 5 hrs more for your side business (freelance). Freelancing is a business and it will take you more than just do this, and do that kind of thing to get it going. You have to do the accounting, invoice writing and the dreaded customer support. You know you can't go forever with this kind of set up, juggling full time work and your freelance web design business. You'll soon realize that you have to pick. Full time web designer or full time freelance web designer?
Full Time Web Design Job

People loves security, no doubt, we want a better and safe future. That is why sometimes having a full time job is the best way to go. I think this is one of the best reason why people can't quit their job. It's for the security. Being a web designer, you know that you only need to design sites for the company, day after day. And wait till the end of the month to get paid. The only thing is, you'll always hope to have an increase of maybe after a year? The good thing is you only have to work 9 hours a day for the pay check.
Freelance Web Design

Freelance web designers are entreprenuers at heart. They depend on their skills not only in design but people management and social skills. Maybe some business skills but the basics are all there, you can research the internet for that. Now, the advantage of this is that, the more you work, the more you earn. And time is flexible. BUT, the draw back is that, you are not sure of your income. It may decline or rise. There are income fluctuations, just like in real business.
Things to Remeber If You Want To Become A Freelance Web Designer

There are a couple of things I always think about before I took the plunge and quit my full time job. They are:

1. Do You have money to pay your expenses? If you quit your full time job, you have no more income source. Do you have the money to pay the bills without working? What I did was to set aside money to pay my bills for 6 months. Secure that money and quit to become a full time freelance web designer.
2. Do You feel limited, bored at work and think that work is getting in your way of improving? I always felt that doing routine work can bore the hell out of people. And the hardest part is that, you're like a robot that does things over and over and over again, without consciously thinking about it. This will stop improvement in your skills and, come on people, its plain boring, if that hits you, you know there's something wrong with your life or you're better of doing business yourself than browsing youtube in the office.
3. Do You have a good number of clients and works to sustain your freelance web design business? If you are doing freelance web design jobs while having a full time job, it is best to have and keep clients that trusts you and those that have more work for you. When I quit my full time web design job, I have no rock solid client base, I only depended on contests to hopefully feed me. So, if you have the guts to go and try what I did, this I say to you, don't you dare, or your family will think you're stupid. Build a list of clients first and think if these clients will come back to you for more work and hopefully sustain your business.
4. Do You have a strong control of your emotions? Believe me, this one is a biggie, most people will think you're stupid to quit a high paying web designer job. Do you have the guts to control the urge to get angry? If you don't mind what other people think, you are on your way. Always remember that: "An entrepreneur stands tall against the tide of popular belief".
5. Have you prepared yourself for the worst and planned for the best? Freelance web design is a business. In business, there are no certainty. We are all at risks. Business will come and go, are you prepared to accept that fact? No one will give you pay check, you are in command of how much you could earn now. Make plans for expansion, harness your skills. Learn more skill set. These are the traits that a full time job won't teach you.
6. Don't Be Afraid To Fail! If you never failed, you never lived.

If you follow this pointers, it will help you get started in the freelance web design industry. Always remember that freelancers are entreprenuers, selling their skills, it takes a lot of confidence to sell their skills to people. If you got these trait of an entreprenuer, making money by freelance web design will be easy for you.