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Forecasting a Freelance Writer's Income

by Johnny Kilhefner

Freelance writers are seldom certain of how much they will get paid and when they will get it. The closest freelancers come to forecasting their income is through ensuring they have paying clients for weeks and months to come, as well as abiding by a budget and enforcing their rates for work.

Finding Clients

Financial security for the freelancer comes from having more than one client. Freelancers cannot devote their entire time to one client, because that client will not always have work available. To keep income flowing in, searching for new clients is vital.

Budgeting

Inconsistent workflow is an occupational hazard, so freelancers must be able to save money for those periods when the work just isn't there. Adjust your budget accordingly to account for the good and bad months, and don't spend lavish amounts of cash just because you are getting it at the moment. Freelancers can never be too certain what the future holds.

Compare Article Rates to Your Purchases

Once you've freelanced for enough time, you might find yourself looking at the price of luxuries such as dining out and furniture by the number of articles it takes to afford them. This is a practice that keeps freelancers from overextending themselves, when an impulse buy of a television is no longer identified as $500, but instead as 20 or 30 articles.

Hold on to Your Receipts

Freelancers getting paid without taxes taken out must pay their taxes when they do their tax return. Saving receipts is an invaluable practice for freelancers, as expenses related to their work and work environment are tax deductible. The receipts freelancers want to hold on to range from coffee shop and accessory costs to phone bills and home utilities.

About the Author

Johnny Kilhefner is a writer with a focus on technology, design and marketing. Writing for more than five years, he has contributed to Writer's Weekly, PopMatters, Bridged Design and APMP, among many other outlets.

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