Saturday, September 17, 2011

Can you really make money freelance writing?

I get this question a lot from family, friends and random Joe’s that ask what I do for a living. The answer is “yes and no.”. In all honesty, YES you can make money freelance writing, but NOT if you do it wrong. Did that help? Didn’t think so.

Freelance writing is a lot like gambling. You have the odds stacked against you and have to hope you pick a winner in order to score big. Some clients will pay well, others will not. When first starting out, you will not make much money without working 80 hours per week and for little to no money. Once you build yourself a hearty portfolio, however, you will get better paying jobs and eventually work when or as much as you want.

The problem with freelance writing, however, is you do not and never will have a steady paycheck. As with any self-employed job, you control how much you work, but also where that money goes and how much money comes in. One week you could make $2,000, but the next week drop to $500. With the pay going up and down worse than the ocean tides, you need to be money smart, organized and savvy in order to actually make money.

Over the next couple of weeks I will post a few blogs that help freelance writers make money, but also survive during the slump times. Check back throughout the week for the updated posts (the link will be active once the article is posted in the Tip Section):

·         Making Your Money Work for You, Not Working for the Money (Passive Income)
·         Keeping BUSI: Budgeting, Underestimating, Saving and Investing
·         Paying Yourself Last
·         The Basket, the Eggs and Where to Put Them
·         How to Find Freelance Work Locally
·         Making Money Even in Hard Times

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