6 Things You Should Know About Freelance Writing...

Some of us depend on freelance jobs to pay the bills as we pursue our creative writing. Working our own hours, choosing the work we do, and earning a living doing what we enjoy – these all sound like fantastic perks, and they are! However, being a freelancer isn't without its drawbacks, so here's a rundown of things to remember if you're thinking about going freelance...

1. Rate of Pay

Deciding on a rate of pay is often a problem when it comes to becoming a freelancer. There seem to be a hundred different approaches: per word, per post, per project, per hour... However, there is no right or wrong way to go about it.

 

You simply must determine how much to charge based on how you work and what is fair to your clients. Determining the real price is often difficult... You don't want to charge too much, because then you won't get any jobs, but you also don't want to charge too little, because then you won't be able to justify spending the time on the job.

The amount of money your clients are able to pay you is determined by a variety of factors. Many businesses nowadays outsource their copywriting to freelancers in countries like India, the Philippines, and other low-cost countries where they can charge as little as $5 per hour due to their lower cost of living. This makes it impossible for Australian authors who are freelancing and struggling to make a living to charge reasonable rates.

 

Furthermore, in order to compete for jobs, many younger authors charge lower rates than they should, lowering the average cost that companies are willing to pay for freelance work.

All we can suggest is that you should stick to your weapons. Don't let someone tell you that you don't deserve what you're asking for if you have the experience and expertise to back it up.

2. Creating and Following Up on Invoices

When you work as a freelancer, you are your own boss, which means you are responsible for all of the complicated paperwork and other requirements. To begin, figure out what kind of invoicing system works best for you, whether you use an online app like Wave or manually build invoices. Wave Accounting is extremely useful because it provides you with models to which you can simply add your data. It ensures that all of your invoices are consistent in style and look elegant and professional.

Isn't it true that the hard work is finished once you've produced and submitted your invoice? There will still be customers who are a little 'chilled out' when it comes to keeping track of who they owe money to as a freelancer.

 

This involves keeping track of who you've invoiced, who's paying, and when you're going to be paid. It's a boring job, and it's not an especially pleasant feeling. You’ll wonder whether they’re going to pay you at all, or if they’ve received your invoice in the first place. Basically the challenge here is trying to follow up what you’re due in a respectful and professional manner.

3. Taxation

If you haven't seen the first episode of Dylan Moran's Black Books, you should... If you have, you'll understand how the majority of us feel about doing our taxes. Every country has its own tax system and record-keeping practices, and a lot depends on which ‘tax class' you fall into.

For the most part, we invoice our clients and then hand them over to an individual accountant who handles all of the nitty gritty information for us at the end of the financial year. You can, however, bill your clients with tax in mind – the tax that you would eventually have to pay.

Make a habit of keeping track of your expenses. There are several things that you can claim as "deductions" while filing your tax return as a freelancer. Computer repairs/purchases, software, subscriptions, printing costs, travel to see customers, internet bill, phone bill, and so on are examples of these expenses. Anything you've bought to finish a job is worth writing down and discussing with your accountant when you meet with him or her.

4. Lack of continuity

A freelancer's pay is unpredictable and seasonal, unlike that of a full-time employee. There will be plenty of jobs at times, and at other times, you will feel as if your income has dried up.

 

It's difficult to navigate an irregular income, and it necessitates being very frugal with your money, always setting aside some for when you may need it. If you're thinking about being a full-time freelancer, this is perhaps the most critical thing to remember...

Do you have some money in the bank? Are you certain that you will not have any sick days or annual leave? Unless you're incredibly wealthy, it's doubtful that you'll have a sizable superannuation fund to fall back on when you're ready to retire. Not only is freelance work unpredictable, but it can also be difficult to accept for these reasons.

5. Determination

Working for yourself can be a difficult task in terms of motivation. You don't have someone looking over your shoulder to see what you're doing; you don't have any KPIs (Key Performance Indicators); and no one knows what time you arrive at work in the morning.

Although all of these details are liberating, they also imply that you are solely responsible for the work you must complete. You don't get paid if you don't turn up to work – it's that easy and that difficult.

6: The Two Cents of Someone Else

At this point, you’ve probably thought long and hard about the challenges of being a freelance writer, but there is one more to consider: dealing with the opinions of others. It seems, if you want to live a creative life, one thing you’re still going to have to put up with is friends/family/strangers putting in their two cents on what you do.

 

There will be people who think you have it easy because you don't have to commute, people who don't take your job seriously because you can do your laundry at lunch if necessary, and your family will ask you to run errands simply because you're "at home."

As a freelancer, you'll have to deal with these issues whether you like it or not. Make a point of sticking to your ‘office hours.' Establish periods when you will be unavailable. Do whatever it takes, even if it means putting a sign on your study door. The more people realize you are serious about your job, the sooner they will be as well.