What would it take for you to quit your current job and move into freelance writing on a full-time basis? You all know what may freelance writing income looks like, but when I started I was not nearly as successful. It took many months of making no more than $2,500 to reach my current income level.
Before you decide to jump into freelance writing full-time, you need to know what number you are chasing. Generally speaking, this should be the income level that you must reach in order to keep your head above water. For instance, if you can live on $2,000/month, you should strive to make at least this much. And remember, you will have to pay taxes on your income. If you need $2k to live, you will have to bring in right around $2,500 or so per month to break even. Not knowing how much you need to earn can make for a very painful transition into the world of full-time freelance writing. This is why it is a good idea to have some extra money saved that can carry you for a few months.Â
As you can see, you are the only one who knows how much money you need to make. Some people will do just fine with a couple thousand dollars from freelance writing, whereas others would need much more to support their family and current style of living. No matter what position you are in, make sure that you know what you are striving for. From there, break down your income goals into smaller chunks. This will allow you to know just how much you have to earn each day to successfully reach your freelance writing income goal for the month.
Personally, I always find this time of the year one of the most difficult for keeping my freelance writing career on track. There is a lot going on at the end of December, and every year I seem to get off track even though I try not to. While there is nothing wrong with taking some time off for the holidays, I always find this difficult to do. This time around, I hope to cope a bit better than in the past.
There are two main reasons that this is a difficult time of the year for me.
1. With so many distractions, it can be hard to concentrate on the task at hand. After all, I have to buy presents, entertain family, and of course, think about the gifts that I will receive! In all seriousness, this can begin to slow any freelance writer down as Christmas gets closer and closer. I must say that this year I have done a great job staying on schedule with my work. In fact, as of today, my freelance writing income is ahead of pace for the month of December.
2. During every other month of the year, clients are usually quick to respond and offer new work. But in between Thanksgiving and the new year, this slows down considerably. Just like me, I am sure that my clients have a lot on their plate as well. In addition to personal tasks, they also have to get their business ready for the upcoming year. For this reason, you do not want to pressure your freelance writing clients too much during this time. Instead, give them some room to breathe, and then regroup after the first of the year.
When it comes down to it, you do not want your holidays to get ruined because you are too caught up in your work. Even though I work hard day in and day out, this time of the year should be for relaxing as well. With that being said, I know that I will be at my computer checking emails the first thing Christmas morning. Oh well, I guess I am addicted!
Many of my recent posts have been based around setting freelance writing fees. With the new year on the way, this is a topic that a lot of aspiring writers are interested in. After all, the first of the year is among the best times to put new fees into effect. Of course, if you do not know what goes into setting your freelance writing fees, you will be a bit lost when it comes to doing so.
Here are three important factors that will affect your freelance writing fees.
1. How much experience you have is essential. If you are a beginner, you will have to start out at the bottom of the food chain. This is not to say that you should short change yourself, but at the same time you will not be able to command the same rates as an established veteran. Base your experience on how long you have been a freelance writer, as well as the samples that you have compiled.
2. What are your competitors charging? While it is impossible to get information on every competitor, you should do your best to collect some details. For instance, many freelance writers have websites that publicly offer pricing information. When you find this information, bookmark it or begin to make a list. Just remember, you must consider the experience of the writer in correlation to their fees.
3. How bad do you need new business? If you are struggling to find work, there is a good chance that you may want to temporarily lower your freelance writing fees. This will definitely help you to attract new clients, especially if you have experience. But remember, you do not have to keep your rates low forever. After you secure new business and are comfortable with where you are at, you can then slowly increase your fees.
By now, you are probably working on your freelance writing fees for 2008. When doing so, keep the three factors above in mind. They will help you to best position yourself for success in the new year.
