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Determine Your Freelance Writing Fees - 1a

Working With Tracked Expenses

What it all means

Once you've developed a way to record all your income and spending, you need to do something with that data so you can actually use the information to support your writing and living. Start by categorizing your expenses.

Create Categories

Since, as a freelance writer, you're in business for yourself, you'll need two 'parent' categories - personal and business.  Take a look at the template from Microsoft -  http://office.microsoft.com/en-us/templates/TC062062791033.aspx it's free and will give you a place to start with your categories. (You'll need to download this using Internet Explorer.)

Keep your categories simple - 15-30 should do it. If it's too complicated you'll never figure out what's going on. On the other hand, you won't get clear about your spending if you don't have enough. If you're 'other' or miscellaneous category gets too big, break it up. Your categories will change over time as you discover exactly what you need.

Spread sheets can work, but QuickBooks is better - I buy all my software from  www.ebay.com and got QuickBooks for less than half.

Benefit From Your Work

You can start benefiting from your expense tracking in as little as a week or two. You'll probably spot some money leaks - places you spend money unconsciously, like espresso or paperback books.

But the real benefit will start when you've got several months worth of expenses recorded and categorized. You'll be able to see your income and expenses with much more clarity than before.

This clarity will tell you a great deal about what you should be charging for your freelance writing. It will also help you save and generally handle your money in positive and productive ways.

Write well and often!

Anne Wayman, Ghostwriter

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Email Anne: Anne@AboutFreelanceWriting.com

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Copyright 2004 - 2008 Anne Wayman