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Breaking the Freelance Writing Income Barrier

What type of freelance writing income do you strive to earn? If you work as a freelance writer on a full-time basis, it is safe to say that you are hoping to earn at least as much as you would at a 9 to 5 job. The problem is that many aspiring writers have a difficult time breaking the income barriers that they set up for themselves. This is a very common problem among newbies, and the main reason that many quit before too long.

Before you start a freelance writing career, you should have two questions on your mind:

1. How much money do I need to get by each month?
2. What is a realistic monthly income goal?

Let’s start with the first question because it is definitely the more important of the two. Generally speaking, as long as you are making enough money to cover your bills you will be able to sustain your freelance writing career until you begin to earn more. For example, if your bills total $1,500/month you need to make sure that you earn at least that much money. Of course, if you have some cash in the bank you can make less and still get by.

Moving onto question number two, you need to set a realistic monthly income goal to work towards. Even when you are making enough to cover your bills, you will be thinking about how much money you would really like to earn. After all, who wants to spend all of their income on nothing more than bills? Without going into all my monthly expenses, I strive to earn at least $4,500/month from freelance writing alone; this does not include other internet related ventures. This gives me more than enough money to pay my bills, invest some, and save the rest for whatever I want. Luckily, I usually earn at least a few hundred dollars more than my monthly goal.

One quick note: read over question number two above once again. Do you notice the word “realistic?” Sure, it would be nice if I could earn $15,000/month through freelance writing. But guess what? At this time, that much money is not realistic. Maybe in the future it will be, but not right now. The bottom line is you do not want to set goals that you have no chance of reaching in the foreseeable future.

When working for yourself, there are always going to be barriers standing in your way; especially when it comes to income. By answering the two questions above, you will be able to take the first step to breaking the freelance writing income barrier.

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3 Comments »Freelance WritingOctober 25th, 2007

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