Take for instance an aspiring freelance writer who is ready to start his career. Going out and buying a new desk, computer, and printer may sound like a great idea. And yes, these are all things that are needed. At the same time, he may already have one or more of these items. Why waste money on new stuff when you can use what you have for the time being?

As your freelance writing career grows there are things that you will need to buy. Don’t worry; you will get your chance to spend money. You just want to make sure you are established and earning a good living before you head out and begin to upgrade all your equipment.

If you do need to buy something, take a quick look around at free outlets before you do so. For instance, you may be surprised at how many items are being given away on a site like craigslist. Finding a free desk, or at least one that is very cheap, is more than possible.

It may not be glamorous, but if you don’t have to spend money you shouldn’t. Anything you can get for free should be able to hold you over for the time being.

I have said many times in the past that one of the biggest advantages of being a freelance writer is the cheap cost of startup. This is the case right now, and probably will be for many more years to come. So in short, freelance writers can and should be cheap – especially when they are first starting their career.

Of course, there is a big difference between being cheap and not spending one dime no matter what comes up. You have to be willing to part with money if you are going to grow your business. I buy supplies from time to time, while also hiring others who can help me take my projects and career to the next level. For instance, I am always on the lookout for experienced designers and programmers. These types of professionals may charge a lot of money for their services, but in the long run it is well worth it.

Not only can freelance writers be cheap, but they should get used to this way of doing things. If you are spending money uncontrollably and blowing through all your profits something is wrong. Simply put, it is relatively inexpensive to become a freelance writer and sustain this type of career. 

There are some things you can think about to make your decision easier. For one, do you really love writing? This is the first thing you should look into. If you find that you have a deep love for writing you are at least on the right path. This does not necessarily mean you should turn this into your career, but it is a very good start.

At some point you need to look into the finances of becoming a freelance writer. How much money do you need to earn every month to pay your bills? Once you know this number you can decide if working full-time in this capacity is doable. The last thing you want to do is start a freelance writing career and find that you cannot pay your bills. This will send you back to a “nine to five” in no time at all.

In addition to the above points, I always tell people to try things out on a part-time basis before moving into a full-time capacity. This gives you the chance to keep your regular job while getting a better idea of what goes into working as a freelance writer. If you begin to build your career and find that you love all aspects of it, it may be time to go full-time. On the other hand, you may learn that you don’t enjoy this path and want to give up altogether.

So, what do you think? Are you going to say yes or no to a career as a freelance writer? 

Here are three financial mistakes that all freelance writers need to avoid:

1. Spending too much money. Even if you are doing well for yourself you don’t want to spend too much on your career. One of the biggest benefits of becoming a freelance writer is the low startup cost. Along with this, once you have everything you need there are not too many expenses that come up. Does this mean I should never spend money? Of course not. Just make sure you are 100 percent comfortable with your decision to spend – no matter what it may be on.

2. Not tracking income and deductions. While this may sound crazy, I have had many freelance writers come to me with an issue based around this. From day one you should track every dollar you earn and spend. This is important for many reasons, and there is no way around it.

3. Not paying taxes. This goes along with number two above. If you do not track your income and expenses you will find it next to impossible to pay the proper amount in taxes. And as you know, messing with the IRS is not a good thing. As a freelance writer you have to be serious about your tax situation. This means paying the right amount on time (quarterly) and without making any mistakes. Tip: hire a tax professional early in your career. This is one of the best moves I ever made.

If you are not careful, these three financial mistakes can harm your freelance writing career.

There are many benefits of communicating with other freelance writers. As noted above, it can help to break up some of the boredom associated with working alone. A quick call or email to another freelancer can give you a break and make you feel that you are still associating with others.

You can also learn a lot. I love asking questions of other freelance writers. Along with this, anytime I am stumped, getting advice from a respected professional in the field is always a great idea. Over the years, I have built up a strong network of freelance writers who are willing to talk about whatever I want (within reason). Of course, I always return the favor.

You can communicate with other freelance writers in many ways. They include phone, email, and instant message. To go along with this, you can also use forums to get in touch with others. This may not be the type of direct communication you are looking for, but it is a good start nonetheless.

Don’t be afraid to talk to other freelance writers. Most of them, including me, are willing to open up and bring others into our circle. I believe that the more people I have in my network the better off we are all going to be. 

Personally, I believe that slow and steady is the best way to build a freelance writing career. When you progress slowly you have the chance to see what is going on around you, while realizing what you need to do to keep the momentum. Those who try to speed through the process often times look back and wonder what happened.

Of course, I am not advocating that you slow yourself down just to do it. In other words, if you are landing new gigs at a high rate of speed you should continue doing this as long as you are comfortable.

Although I believe that slow and steady is a good thing, you may feel differently. The one thing to remember is that every freelance writer is unique. You may move faster or slower than somebody else; there is nothing wrong with this. It is best to do whatever will make you comfortable.

In short, I want this post to be a reminder that becoming a successful freelance writer does not happen over night. You have to put in a lot of work, and slowly build your career over the period of many months/years. If you slowly and steadily move forward you will eventually reach all your goals. 

What are some of the most common worries of freelance writers? Here are a few:

1. Not making enough money. I list this as number one because I think it is the thing that bugs the majority of freelance writers; especially those who are new to the industry. When you work as a freelance writer you have to come to grips with the fact that you are not going to receive a paycheck every two weeks for the same amount – this is not how things work. Even though money can be a major concern, once you are established you will realize that this is not really that big of a deal. You will get on board with regular clients that are willing to pay you a good amount of money every month. This does not always come easy, but it will come in time.

2. Not finding work. As noted above, landing new clients is not a simple process. Just like every freelance writer I go through draughts in which I don’t close any deals for an extended period of time. Don’t let this get you down. Soon enough things will change and you will be back feeling good about yourself.

3. I will have to work too much. This is something I have never worried about because I love my job. In fact, I could work for 15 hours a day and never think twice about it. Of course, I try to avoid too many hours because it is not good for you from a mental or physical perspective. There is no denying that you will have to work long hours early in your freelance writing career. But remember, things will settle down over time.

These three worries are shared by many freelance writers. It is easy for me to sit here and say “you don’t have any reason to worry.” The fact of the matter is that you are always going to worry about something. As long as you work hard and are doing all the right things, you will see that you are moving in the right direction.

If you want to grab one of these two spots, send me an email as soon as possible. Judging by the past, they will only be available for 24 hours at the most.

If you have any general questions about the course, getting started, or what we will cover, send me a quick note. I would be more than happy to help you decide if becoming a member is a good idea.

Looking forward to working with a couple more of you in the very near future!

1. Ask your current clients for help. This is something that many freelancers overlook. If you have a good relationship with a client there is nothing wrong with asking them to send your name out to others who may be interested in what you offer. Don’t be pushy. Just make sure that your clients know that passing your name along would be greatly appreciated.

2. Try something different. If you never think outside the box you are going to be stuck in the same position, day after day. For example, if you usually only send cold emails you may want to mix in cold calling, face to face meetings, etc. The more ways you market your services the better chance you have of adding new clients to your list.

3. Offer something better than the competition. Can you play up the fact that you have more experience than the rest? What about your prices? Are they competitive? Give clients a reason to hire you.

As you can see, it is quite simple to get on the right track to landing new clients. There will be days when nobody wants to talk to you; expect this to happen. But on the same token, there will be times when you are “on fire” and new clients seem to be flocking your way. As long as you are always looking to land new clients, something will break soon enough. 

Here are three freelance writing startup costs to consider:

1. Computer and printer. It goes without saying that every freelance writer needs a quality computer and printer. Do you already have both of these? If so, you can forget about this expense and move on. Those who don’t have to purchase a computer and printer can really save a lot of money during the startup phase of their career.

2. Internet connection. This is something that many people forget about for whatever reason. For the most part, a computer does not do you any good unless you have an internet connection as well. Once again, you may already be paying for this for your own personal use. In this case, you are off the hook and are still doing well from a budgeting perspective.

3. Office supplies. What do you need in your office and on your desk to succeed? There are many office supplies you can purchase – some of them are more important than others. They include printer paper, staples, paper clips, notebooks, pens, and other items of the like. Fortunately, office supplies do not cost that much money. Believe it or not, I still have some of the same items I purchased during my first year as a freelancer.

Are there other freelance writing startup costs? There sure are. But these three are very important and cannot be overlooked. If you have any specific questions regarding startup costs and what you should be doing, feel free to shoot me an email or leave a comment for all of us to read.