LaToya Irby

When it comes to unauthorized bank account and credit card charges, the sooner you find out these charges have hit, the better. Checking account and Paypal account fraud are the worst because these charges reduce your available money. Depending on your bank’s policy, you may have to wait until a fraud investigation is complete before you can get your money back. In some cases (mentioned

One of the things that keeps me out of financial trouble is spending only the money I have on hand. Call me skeptical, but I avoid spending freelance money before I actually have it, even when I’ve already done the work. When you’re a freelancer, you can pretty much count on something going wrong with payments at any given time. Here are some rules I

Everyone who’s been freelancing for a while knows that there are ups and downs in a freelancer’s income. Though I don’t like the decrease in cash flow, I sometimes appreciate the downs because it means I get a bit of a break from working so much. Fortunately, even my “down” months bring in enough income to cover all my expenses, so I’m never depressed about

Getting paid to write isn’t always seamless. While you may have some clients who pay you automatically, most of them probably need to be told what to pay, how much to pay, and how to pay. No problem. There are all types of clients and you need to be prepared for all of them. An invoice is basically a bill for the work that you’ve

Earlier this summer, the (U.S.) government passed a law that requires you to opt-in before banks can charge you an overdraft fee. By opting-in, you agree that banks can process transactions that are over your account balance and you agree to pay the associated overdraft fee. You can also opt-out, which means banks won’t process transactions that exceed your balance and therefore your account won’t

Throughout the time I’ve been freelancing, I’ve worked with several different clients. I’ve encountered all types of payment situations. While some clients have sent payments on time without a hassle, not all clients payments have been ideal. As you work with clients, you’ll notice their payment habits fall into one of several categories. “The check’s in the mail.” This is the client who claims they’ve

When you’re a freelancer, your money comes in spurts. You might get $500 this week, $200 next week, and $1,500 the week after that. Some money comes by check, others direct deposit, and others through PayPal or maybe even wire transfer. And you have to keep up with all of it. Managing a freelance income is hard enough. If you’re spending money as it comes

At 22 years old, I was making $55K per year and I was the envy of all my friends. But I was still broke and I couldn’t figure out why. For months, I was unhappy about my job partly because I wasn’t enjoying the money I was making. Then, it dawned on me – the money’s going somewhere, I just had to figure out where

When you make the switch from full-time employee to full-time freelance writer, your health insurance options will change dramatically. If your spouse is still employed, you may be able to enjoy their group health benefits. Otherwise, you’ll be seeking an outside source for health coverage. There are more options than you may believe. I can’t cover all of them extensively in a single post, so

Back in April, I promised to tell you about retirement options available for freelance writers. I’m three months late, but better late than never right? I have to admit, thinking about retirement savings is not the most interesting topic. In fact, it can be boring. But I’ll do boring if it means I get to spend my 50+ years enjoying the world’s beaches. Let me

Now that half the year is gone, it’s a good time to take a look at your overall financial situation to see how you’re doing so far this year. Here are some things you should include in your mid-year finance check up. 1. Progression toward your salary goal. You should have started the year with an idea of how much money you wanted to make

I’ve decided to open a third checking account. Right now, I have two accounts – one business account that holds my income until I’m ready to “pay” myself and another that receives my monthly paychecks. The second is a personal account that I use for paying bills and other various spending. While most of my bills are paid by the 5th of the month, I

Ultimately, the question of whether you’re ready to make freelance writing your full-time job comes down to whether you consistently make enough money to pay all your bills each month.  But just how much money do you need to make to quit your job and freelance full-time? I don’t know the exact number, but I can tell you how to figure it out. You need

Freelance writer vacations are important, but for many freelancers vacation days are non-existent. If you do manage to take a vacation, you’ll probably be stuck working early mornings and late nights because you can’t afford to abandon your work completely. There are still bills that need to be paid. At my last corporate job, allowed us to buy an extra week of vacation. Payroll simply deducted

The lack of employer-sponsored retirement plans is another drawback of freelancing and self-employment. But just because you don’t have a corporation matching your 401K contributions doesn’t mean you should forgo retirement savings all together. Sure, freelance writing is flexible, but do you really want to continue doing it for the rest of your life? Can you do it for the rest of your life? During

Reading Yo’s last post about accountability really got me to thinking, “Are people having financial trouble because they failed to take ownership of their finances?” Could that one word – ownership – have prevented the entire mortgage meltdown and subsequent recession? Taking ownership of your freelance finances means charging a rate you can live on. It means managing the money you have and storing the