It’s been a crazy, busy month, which seems odd since my butt has been plopped down in my desk chair most of the time. But now I know why. Not only has school been kicking into high gear for my boys, I’ve also been cranking out a lot of work and getting paid for work done earlier in the summer. Finances are looking very good this month.
That’s the problem with freelancing. You never know where your next check is going to come from. I’ve got a client who pays me twice a week and unfortunately, on occasion, a client or two who didn’t pay at all. Some clients pay on acceptance for an article, some pay on publication and some pay a few months after publication. So you can see how confusing it can be for a freelance writer to try and manage cash flow.
It’s one of the reasons I’ve discovered as a freelance writer that it’s hard to turn down a project even if you’re swamped. With different deadlines and payment dates, freelance writers are like those performers in the circus who keep eight or nine plates spinning on top of poles, except with freelancers, it’s more like three dozen plates.
The one thing I’ve managed to do is work a month ahead. The money I earn this month is the pool I use to budget my expenses for October. What I’d like to be able to do in the future is have my expenses manageable enough that I can take out a set amount each month from my business savings, move it into my business checking and work off that for the month. Just a tip for any of you considering trying your hand at freelancing.