Let’s face it–being a professional writer these days doesn’t involve very many elegant salon parties or wistfully gazing at the misty moors from your manor’s window. If you’re just starting out, you might find yourself on a shoestring budget for a while. Even an experienced professional blogger might find that doing what you love isn’t always a good way to stay flush with cash. Fortunately, it is fairly easy to stay financially comfortable while still working as a full time freelance blogger.
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- One of the most important parts of keeping track of your finances is paying taxes. From the beginning, it is important to keep track of every dollar you earn from a client who does not have you fill out a W-2. If you expect to be paying taxes on your blogging income, start saving up for them well ahead of time. If you talk to a tax professional and it turns out that you overestimated what you needed, then congratulations! You don’t have to wait as long as some people do for a little tax refund.
- Another key to keeping track of your finances is a weekly budget that tells you how much you need to spend and how much you need to save. My rent is due by the fifth, but because I’ve saved a quarter of it from the past four weeks’ paychecks, it doesn’t strike a huge blow on my checking account. Don’t worry if it takes you a couple months to establish an accurate weekly budget; in the long run, you’ll figure out an accurate plan that works for you.
- I might get paid via PayPal, but I still try to use cash as often as possible. You’ll never overdraw your checking account or put too much on your credit card when you pay for things in cash, and many people feel less tempted to spend more when they know they have a limited quantity of cash on hand. This isn’t to say that you should abandon your credit card along with that office job; it’s fine to use your credit regularly to pay for things you know you can cover out of your checking account.
- Pay attention to those annoying insurance commercials, and see if you could be paying less for your car and health insurance. Call about some of those other bills, too, especially for services like internet and cable. Many companies would rather keep a customer’s business than have them pay a premium rate for services, and they count on a relatively small portion of their customers taking the effort to have their rates lowered.
- Think differently about the purchases you make, especially if one of the reasons you’re a professional blogger is to spend more time around the house. Things like eating out less often or planting a vegetable garden may be difficult to juggle with an office job, but they get much easier when you’re setting your hours as a freelancer.
These personal finance tips for bloggers have yet to make writing as romantic an occupation as some of my friends seem to think it is, but they have helped me manage my budget even during weeks when money is a little tight. Following them yourself can help you live comfortably while doing what you love as your main source of income.
Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit http://optimataxrelief.com/