Have some savings before you start contracting.

If you're considering contracting, I'd recommend having 2-3 months' worth of bills and expenses set aside. Even more if you can.

Working as a contractor has a very different cadence to that of an employee, especially if you're doing 3-6 month contracts. You're usually hunting for the next one before your current one has ended and wondering where the time went.

It gets easier once you get into the rhythm of contracting, and you adjust to looking around more frequently. But it can often catch you off guard in the beginning if you haven't prepared.

I landed my first contract after about 6 weeks of looking for one, having already quit my perm job. One day a recruiter randomly reached out on a Thursday evening with an opening. We had a call the same night and I interviewed with the client the next day. I had a second interview with them the following Monday and started on Wednesday. Less than a week prior I hadn't heard of the company and they hadn't heard of me.

When things move, they move quickly! But when it's a down period, it can really take a while. So don't be hasty in leaving a role you already have, build up a small nest egg before switching to tide you over when you need it!