I suppose I am technically self-employed when I do my blog work. Of course, I have two other jobs where I am employed by employers, but for this aspect of my life I am my own boss. I like being my own boss... self-employment definitely has it's perks! I love that my blogging job doesn't have to follow the every day 9 to 5 routine.
I like being able to work at my own pace, and make my own hours. With my crazy busy life I couldn't imagine fitting a third job into my schedule if I had to live with the demands of another boss. I also love that I can work from home. Now, that isn't always the case with self-employment, but the beauty of self-employment is that you can do what works best for you. Your business idea can fit your lifestyle!
However, if you choose to be self-employed and it's the only employment you have things can get a little tricky. Especially on the health care front. It can be difficult to find self employed health insurance. Health insurance is an important aspect of any job, so finding insurance that will work with you when you're self-employed is important.
You also have to take into consideration that you will be the one who is doing all of the financial accounting. I have found that I have many business tax questions when tax time comes around. Taxes just aren't my strong point, so I usually use a professional tax service for taxes and small business accounting.
No matter how you choose to work, employed by someone else or self-employed, you should always choose to do something you enjoy. Money can be a great motivator, but I have learned that even if the money is great if you hate the job it's hard to be successful.