Category Archives: Finance

Another calendar year means another fiscal season for freelance writing businesses.  It’s a great time to organize your finances. You may have had an ineffective organization system last year, if you had one at all. No matter what you did last year, the start of 2013 is a great time to tweak your old system or to create a new one. When I talk about organizing finances, here are a few things that will be part of your system. Invoices, note whether they’re paid Payments received Business expenses paid, e.g. web hosting, internet Estimated taxes paid Writing contracts/agreements The most …

If you’ve freelanced at all before, you probably already know: there are no guaranteed paychecks in freelance writing. I often tell my family and friends, particularly those who dream up things for me to do during work hours, that my pay is tied directly to my productivity. I don’t write, I don’t get paid. It’s not like a desk job where you clock in, stay for awhile, get paid for the hours you were on the clock. And certainly not like a salary position, where you’re paid the same amount every payday almost regardless of the amount of work you …

This is one of my favorite times of year, not because it’s the holiday season (that part is actually more stressful than enjoyable), but because it’s the perfect time to reflect on the past year’s progress and make plans for the upcoming year. I like to start doing this earlier in December, that way I’m ready to put the plan into action at the start of the year. Make more money Make sure you have a concrete goal to work toward. For example, you might want to increase your annual income by 10% or your monthly income by $500. There are …

By far, most freelance writing advice is building a successful freelancing writing business, not about leaving one behind. But, sometimes, writing businesses fail. Or, writers decide to pursue other opportunities. Your freelance writing business may morph into another business. There’s nothing wrong with that. The most important thing is to continue doing something that pays the bills and keeps you (somewhat) happy. If you have an active freelance writing business, you can’t shut down operations and never look back again, as if you worked drive thru for a fast food restaurant. Take certain steps to be sure you’ve tied up …

“You want to hire me, but you don’t want to pay my rates. Tell me again how accepting a project that pays far less than what I need to survive on is going to benefit me.” My honesty is never this brutal, but it’s sometimes exactly what I want to say to those clients who want to hire me, but want to pay me in chicken feed. My time is far more valuable and so is yours. Think About It… Why should a client benefit from your hard work without paying the cost? Imagine if you walked into a nice …

Some surprises are nice: surprise birthday parties, surprise gifts, surprise breakfast in bed. Other surprises are not so nice, specifically surprises that cost you. When you’re a fulltime writer, your income fluctuates often, so surprises are typically unwelcome. But they happen, even to the most experienced writers. Success and longevity hinge on your ability to manage these surprises. A big project falls through. Not every lead will turn into a client. It can be very disappointing when it’s a big project, especially one with a big payout. Not that we’re chasing dollars, but there is a certain degree of excitement …

If you asked my 20-year-old self what kind of job I wanted after graduating college, writing would not have been my answer. But, if you asked that same me what I was passionate about, I would have answered “writing” without hesitation. I’ve talked to many people who, like I was, are afraid to follow their dreams of being a full-time freelance writer because they’re worried they’ll fail with the financial part. Dreams don’t just come true by chance; you make them happen. With freelance writing, it means staying on top of your finances to make sure you can do it …

If you bank with a major bank, you’ve probably received notice that a monthly fee is being added to your account. For the most part, these fees can be waived if you maintain a certain balance, make a certain number of debit card transactions, or have a certain amount direct deposited into your account. Basically, you may have to go through a little bit of hassle to get that $10 to $14 fee waived each month. I got the notice for one of my accounts and immediately decided to close the amount and move to a credit union. Not only …