Id pretty much landed my dream job.
I wanted to be there for them before that could use turned into needed.
I had no idea what my life as a full-time freelance writer would have in store for me.
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Well, besides the promise of working in PJs and yoga pants the vast majority of the time.
No Interest Til Almost 2027?
What I learned along the way is harder to quantify, of course.
Although I only scored three new bylines, those clients alone accounted for $2,000 of this quarters earnings.
(How to land dreamy publications, you ask?
Persistence and thick skin.
About 85% of my 2017 pitches were rejected or ignored entirely.)
Thus, my weekly copy quota got cut back a bit.
First-Year Total: $50,046 (!!)
Of course, I didnt actually have Scrooge McDuck-style stacks to roll around in.
But I was simultaneously building my emergency fund, which today is over $10,000.
(Note to self: Call accountant.)
I also only worked about 25 hours per week on average.
I think that calls for some Champagne, dont you?
Want to Start a Freelance Business?
Heres My Advice
That #freelancelife isnt always easy, but its worthwhile and totally achievable if youre dedicated.
Heres what I wish someone had told me before Id started:
1.
Nothing is a sure thing, so dont spend money you dont have.
Remember how I said I went several weeks without any assignments in Q1?
Well, I didnt goanyweeks without having to buy groceries.
Freelance clients are often late with payments, and projects are frequently discussed that never come to fruition.
Theres no guarantee until theres a guarantee and sometimes, not even then.
So if at all possible, dont spend money unless its actually physically present in your bank account.
(This means you, Q1 Jamie, expensing a trip to Portland on credit.)
Take advantage of long-term agreements even if it means a lower pay rate.
These kinds of arrangements can pay dividends in the long run, so dont overlook them!
Say yes as often as possible, at least at the beginning.
(Notice I did not write pick up chicks.
That said, DONT WORK FOR FREE.
Or if you do, dont make a habit of it.
Yes, you need clips and bylines, butexposure doesnt put food on the table.
Its time-intensive and often thankless; youll be rejected lots and hear nothing at all even more.
Although its not directly earning you money right now, you should definitely consider it a regular responsibility.
Set aside time to do it and count those hours as part of your work week.
Separate out your taxes IMMEDIATELY.
Just make a whole separate bank account and funnel a third of your earnings directly into it.
Consider it Uncle Sams money: It doesnt belong to you, so dont touch it.
Dont even go there.
(Until, of course,quarterlies come upand you get to write four-figure checks to the IRS.
Like I said, freelancings not all rainbows and unicorns.)
Max out your IRA if at all possible.
Now to see what 2018 will bring.
Good luck, you entrepreneurial Penny Hoarders!
Her writing focuses on food, wine, travel and frugality.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
