Tag Archives: finances

How to Be Better With Your Freelance Writing Income

By on May 20th, 2013

Too bad we’re not born knowing how to deal with money. If you had a financial literacy class in high school, you were pretty lucky. For many of us, much of what we know about personal finance we learned from our parents or our own mistakes. It’s not too late to learn those critical lessons you may have missed. Here are some tips on being better with your money. Read about money. You don’t have to completely immerse yourself in personal finance, but learn what you need to better manage your money through books, blogs, magazines, and other people. A …

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What To Do With Extra Writing Income

By on February 11th, 2013

Is your freelance writing business netting you more money than what’s needed to pay the bills? It’s not a bad problem to have. Here are some ways you can spend that extra money. Make sure you set aside enough for taxes. If you’re earning more than you expected, you may also owe more taxes than you expected. Update your estimated tax calculation and set aside some additional funds if you need to. Pay at least your estimated taxes, i.e. what you paid last year, and you shouldn’t face any underpayment penalties if you happen owe at tax time. Having some …

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How to Budget a Freelance Writer’s Fluctuating Income

By on November 23rd, 2009

I know what you’re thinking, Ugh. Budgeting. The only thing worse than budgeting is licking sandpaper. As boring as it feels, budgeting is especially critical for you as a freelance writer, because your income is less predictable. Creating a budget takes just three steps: totaling your monthly income, subtracting your expenses, and adjusting your budget based on the result. You’ll create your budget using the same basic process, with some extra steps to compensate for your fluctuating income. Projecting Your Monthly Income You may not know for certain what your income will be for a particular month, but you can …

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