A reference to a weekend with no plans. A combination of the phrase free weekend.
Has nothing to do with sexual things which is a common guess by those who assume it is a "freakend" which is something completely different.

Often a freekend is something used to make plans to party.
or otherwise smoke marijuana.
"Dude do you wanna get together soon and toke it up?"
"Yeah man! i got a freekend comin up if you wanna make plans."
by Jake Gianuzzi January 22, 2008
freek-end. (free weekend); When you're in college or a 20-something and live paycheck to paycheck (or off Financial Aid checks), a freekend is the experience of having your parent(s) come visit for a weekend and pay for everything. You make reservations for those restaurants you could never afford to treat yourself too, and order the Goose martini instead of the House Red.
Thank god it's the freekend, I just used my last 20$ on laundry.
by babyburnsalot May 22, 2014

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