If you seem to be working for hours on end as a freelance writer and barely make enough money to make ends meet, you are not alone. Many freelance writers are barely scraping by, despite putting their best foot forward at the job. Other freelance writers, however, seem to be living the good life. They are staying busy with work, but they do not feel forced to work all day in order to make ends meet. So why are some freelance writers thriving while others are struggling?
The Right Assignments
When it comes to freelance writing, the pay rates on assignments can vary significantly. Some assignments truly pay peanuts. The equivalent hourly rate for some assignments is under $5 per hour. Other assignments are rather lucrative for freelance writers, their pay may well exceed the equivalent of $25 or $30 per hour. Of course, assignments typically are not offered to you with an hourly rate. Instead, they are offered to you as a lump sum fee for the completed assignment. As a freelance writer, your ability to sort through the details of an assignment and determine how quickly you can complete an assignment is important to earning the most money possible from your job. Even the most successful freelance writers have taken on a job that was truly not worth their time and effort. They learned from these errors, and they applied their lessons learned to future assignment hunting efforts. Consider how much money you need to earn per hour or per day to support yourself. Then look for assignments that offer a comparable rate.
A Smart Work Schedule
Of course, you can choose an assignment that has the potential of paying you $30 per hour, for example. However, if you squander your time, cannot focus on the work in front of you and so forth, that hour’s worth of work may end up taking you two or three hours. Those freelance writers who most successfully earn a decent living work on the right assignments, and they also work on assignments quickly and with a focused mindset. They understand that if they want to meet their income requirements, they have to complete said assignment within the hour and move onto the next assignment. This, of course, requires you to not only finish the first assignment, but also to have another assignment to do when you get done with the first. You can take steps to find higher paying assignments, to improve your work environment so you focus more fully on the work at hand, and to fill your work day with several assignments.
Your Personal Budget
Freelance writers simply do not share the same tax bracket with brain surgeons. If you have recently changed careers and are now freelancing full-time, it may be necessary to make some lifestyle changes to adjust to your new income level. Your budget and financial struggles are components of your income level as well as your expenses. By making adjustments to your lifestyle and decreasing your monthly expenses, you can more comfortably earn a living as a freelance writer that will support your needs.
Nobody wants to spend their days writing on the computer for eight, ten or more hours a day and not have any extra money to show for their efforts. By following these tips, you can more comfortably manage your budget and your work schedule.
