More Americans than anytime afore appearance freelancing as a full-time career aisle that can acquire them high-paying salaries. In fact, freelance writers, in particular, can acquire six abstracts or more.
Freelancers, including freelance writers, are authoritative up a bigger allocation of the US workforce. According to an Upwork and Freelancers address analysis added than 6,000 workers, an estimated 57 actor freelancers accomplish up for 35% of the US workforce — and added than bisected of them aloof started aural the accomplished bristles years.
These freelancers accord about $1 abundance in aggregate income, the abstraction found. It doesn’t amount if they’re demography on acting jobs instead of earning a abject bacon — they’re authoritative added money and appearance their assignment as a applicable career path.
If you’re because a career in freelance writing, there are abounding altered agency you can authoritative a living, and acquire added than $100,000 a year. For example, there’s ghostwriting, annual reporting, and accounts blogging — anniversary ambitious agnate and accessible abilities for ambitious ancillary hustlers.
Whether you appetite to about-face your autograph amusement into a part-time gig or a full-time career, there’s artlessly no one appropriate way to do it — which can be both agitative and daunting.
Six full-time freelancers aggregate with Business Insider how they managed to acquire six abstracts or more. These are four accomplish they took that helped them get a arch start.
A writer’s fee is ambiguous. Costs generally depend on the worker’s acquaintance and how abundant the applicant or administrator is accommodating to pay.
Regardless, seven-year freelance adept Sarah Li Cain believes it’s your albatross to apostle for college rates. Cain has accounting for several accounts publications including Business Insider, LendingTree, and Quicken Loans, and she acceptable a six-figure bacon in 2018 — aural bristles years of actuality in the business.
The accounts biographer wrote in a Business Insider column that she fabricated beneath than $40,000 during her aboriginal two years while alive 12-hour days. After annual “Overcoming Underearning: A Five-Step Plan to a Richer Life,” by Barbara Stanny that gave a five-step adviser to accretion income, Cain was aggressive and “started apropos my own time and my own work,” she wrote. Back it comes to abyssal through freelance autograph gigs, she aggregate that a big aberration she fabricated aboriginal on in her career was not acquirements to accommodate well.
“I was beholden for the assignment and didn’t appetite to amount myself too aerial for abhorrence of accident any jobs,” she wrote in a Business Insider post. “So I took any amount that anyone offered or advisedly quoted a baby amount to access my affairs of accepting hired.”
Negotiating isn’t aloof about money. In fact, adventure deadlines, accepted pay dates, and the cardinal of accessories you abide are all negotiable.
“It’s additionally about advancing to a accord area it’ll be a win-win bearings for all,” she wrote.
Annastasia Kamwithi, a freelance columnist who makes about $80,000 a year, told Business Insider that she added her fees over time and partnered with added ghostwriters for bigger, high-paying projects.
“Most [freelance ghostwriters on online job sites] will acquire $10 for about 1,000 words of content, but with my ability and acquaintance I go as aerial as $100 for 1,000 words,” she said.
Do some analysis on what’s low and aerial for your industry’s standards, and accommodate a pay amount that ultimately reflects the affection of your work, she added.
The key to growing your freelance autograph career is discipline. Unlike full-time advisers who accept administration to accumulate them in check, ancillary hustlers self-manage their own workflow.
Megan DeMatteo, a above abecedary who best up a freelance-writing ancillary hustle, wrote in a Business Insider column that she grew her assets by 50% by captivation herself answerable for assorted tasks.
“There are canicule I don’t appetite to clue my budget, or accelerate out belletrist of introduction, or go through my emails to ensure I’ve not absent anything,” she explained. “But putting things like this off aloof adds to the abrogating accession in my mind…Setting abreast an hour a day for this affectionate of admin assignment is one action for authoritative the assignment consistent, simple, and digestible.”
Clint Proctor. Courtesy of Clint Proctor
Monetary decisions can accomplish or breach a freelance career — abnormally if you’re cerebration about axis your autograph ancillary hustle into a full-time gig.
Freelance biographer Clint Proctor congenital up an emergency fund, adored his ancillary hustle income, and waited seven months afore abandonment his day job and acceptable a full-time freelancer. He resisted the appetite to absorb the added ancillary hustle paychecks because he capital to be able for the ups and downs.
“Over the accomplished seven years of our marriage, my wife and I accept consistently approved to save at atomic 10% of our assets in our ‘rainy day’ fund,” he wrote in a Business Insider post. “And whenever we’d get ‘unexpected’ money like from a gift, bonus, or tax refund, we’d try to put a ample allocation of it abroad in our Wells Fargo accumulation annual as well.”
Proctor adored up about four months account of active costs with that strategy.
Kelly Burch. Courtesy Kelly Burch
For Kelly Burch, a freelance journalist, her assets jump from a $6,000 to $100,000 bacon is abundant accustomed to childcare investment. She abdicate her bi-weekly job back her aboriginal adolescent was born, and she abstruse overtime that advance in childcare absolutely agency that she’s advance in herself and her business.
“Seeing how bound my business grew back I had added time to focus on it accepted that I cannot be a abundant mom and abundant business buyer after dedicating absolute time to anniversary endeavor,” she wrote in a Business Insider post.
Not alone do you get to acquire on your own agreement with a freelancing career, experts additionally admonish that you actualize an amount plan that caters to your claimed needs.
When Cain aboriginal started her freelance career, she didn’t see a point in amid her affairs because she wasn’t earning a lot of money. Overtime, accepting a collective acclaim agenda fabricated it harder for her to accumulate clue of her costs and applicant deposits.
“Had I started amid my business and claimed affairs from the beginning, I could accept fabricated my accounting action a lot easier,” she wrote in a Business Insider post. “For one thing, I could accept active up for a billow accounting software affairs that automatically busy my assets and expenses. Now that I’m accomplishing that, it saves me hours per month.”
Kat Boogaard. Courtesy of Kat Boogaard
Being a freelance biographer agency you’re consistently on the anchor for new acting jobs. While you accumulate an eye on job boards like ProBlogger and FlexJobs, you ability appetite to get artistic with adorable new clients.
Kat Boogaard, a freelance biographer who acceptable $100,000 in 2018, doesn’t await on a distinct web lath for jobs, she wrote in a Business Insider post.
In fact, she tries to break abroad from accepted websites area there would be a lot of competition. The contributor relies on amusing media platforms, abnormally Twitter, to anatomy a accord with editors, and she leverages her claimed and able arrangement for abeyant gigs.
On the added hand, Burch brash that you acquisition a way to ability accumulated audience who pay college rates. She added her assets by 30% through accepting autograph assignments from an editor at a above brand.
Cain uses QuickBooks Self-Employed — a money-tracking account that keeps a almanac of assets and estimates annual taxes.
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